Emert Law Firm, LLC
Call for a consultation
678-926-9284

trusts Archives

Amending a trust to make changes

Many people in Georgia may have created a trust as part of their estate planning process. However, after the trust was created, they may want to make changes to the document and the way that their assets are handled. They may wonder how they can best change a trust to ensure that their intentions are clear, even after they have passed away.

Estate planning should be kept current

Estate planning can be a difficult task for many people in Georgia; as it involves dealing with complicated family issues and considering death, many people are happy to draw up the necessary documents and then file them away for the future, content that their family will be properly taken care of after their passing. However, due to changing laws as well as life changes, estate planning documents like wills and trusts can rapidly become outdated.

Common errors in creating a living trust

A living trust can be a powerful tool in estate planning for people in Georgia. With this legal tool, assets skip probate and go directly to beneficiaries. Unlike a will, a living trust is also private. Furthermore, it does not require the creator to give up ownership of assets. The creator simply acts as trustee. If the creator becomes incapacitated, a successor trustee can manage the assets on the creator's behalf.

About charitable trusts

Georgia residents who want to leave part of their estate to their favorite charities may consider using a charitable trust. One of the many advantages of doing so is that it can provide tax benefits for the donors. As the name implies, charitable trusts are created for a charitable purpose. According to Uniform Trust Code Section 405, the charitable purpose may be related to the propagation of religion or education, relieving poverty, encouraging health, fulfilling municipal or governmental purposes or any task geared toward benefiting the community.

Why business owners should make an estate plan

Georgia residents may think that they only need to create an estate plan to account for their personal assets. However, business owners in that state and elsewhere may want to create an estate plan that accounts for business assets as well. One of the best reasons to have a business estate plan is that it may ensure the survival of the company after the owner passes on.

The many benefits of trusts in Georgia

People in Georgia often put a great deal of thought into their legacy and how their assets will be distributed upon their death. Most people are aware of the importance of having a last will and testament. However, there are other estate planning tools, including trusts, that can help ensure that a person's assets go to the beneficiary of their choosing rather than to taxes.

Using trusts to protect an inheritance in Georgia

Many parents work hard to ensure that the needs of their children are met. Over the years, they could ultimately amass a significant amount of wealth -- assets that they want to pass on to their children upon their death. However, some parents in Georgia may be concerned about their child's spouse receiving part of an inheritance in a divorce. Fortunately, there are trusts and other options that can provide protection.

Using trusts to protect a beloved pet

The vast majority of people in Georgia worry about their family, especially about a time in which they may be unable to provide care. As a result, many people go through the estate planning process to ensure that their family members are provided for when they are no longer around to do so themselves. Because many people consider their pets to be parts of their family, some take measures, including the creation of trusts, to help protect their furry family members.

Email Us For A Response

Schedule A Free Initial Estate Planning Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

6340 Sugarloaf Parkway
Suite 200
Duluth, GA 30097

Phone: 678-926-9284
Fax: 770-932-5195
Duluth Law Office Map