What is a Special Needs Trust?

Any parent, guardian or caregiver of a person with special needs has at one time or another wondered, “What will happen when I’m gone?” Whether your loved one is a child with autism or an adult with a traumatic brain injury, the uncertainty of what happens to them in your absence can be daunting. It’s a difficult reality to face and, unfortunately, the financial aspects may be even more complicated than you Read More

Creating a qualified personal residence trust

Georgia residents who are making an estate plan may wonder if they can place their home in a qualified personal residence trust. This kind of trust allows a person to transfer their home into a trust and remain a resident on the property. Usually, parents use it to transfer a home to their children. A QPRT may help save on estate taxes. A vacation home can also be placed in a QPRT. A taxpayer may place a maximum of Read More

Why healthcare directives should be included in every estate plan

While no one ever wants to ever think about the possibility of being diagnosed with a terminal illness or incapacitated following a serious accident, the fact remains that these things can-and-happen with alarming regularity. As much as this can make a person feel utterly powerless, the truth is that they can actually exercise a considerable degree of control over these situations, and provide their anguished loved Read More

The importance of preparing for incapacity in an estate plan

Georgia residents might wonder what they need to do to ensure that their loved ones can make decisions on their behalf in case they are incapacitated. In many cases, appointing a family member as agent under a power of attorney can accomplish this goal. Failing to do so may result in problems later. For example, one person’s mother developed Alzheimer’s disease. Although the person had prepared a power of attorney Read More

Trusts and annuities

Some Georgia residents might wonder whether their trusts should be named as the beneficiaries of the annuities they have as well as whether the annuities should pay into their trusts. There are some good reasons that people may want to have their annuities funded directly into their trusts. For annuities, the annuitant is the life on which the annuity is based and the owner of the annuity is able to control what Read More

Divorce and estate planning

Georgia couples who are contemplating ending their marriages may need to think beyond the short term to determine how the divorce may affect them for the long term. In fact, they may need to consider whether estate planning decisions need to be adjusted given the pending divorce. In the vast majority of cases divorcing spouses are able to work out their own settlement which is ultimately incorporated into a court Read More

How a revocable living trust can make life easier

When loved ones pass away, family members are often left with the daunting task of handling the remaining possessions of the deceased. Whether it’s a home, antique collection or household items, dealing with these matters can be difficult in the wake of the grieving process. But the process doesn’t have to be this way; there are ways to prepare. A revocable trust is one estate planning avenue families should consider Read More

Money fights and strategies for avoiding them

As Georgia parents make plans about the distribution of their assets after they are gone, worries about money-related fights among their offspring could arise. After one’s death, there is little that can be done to head off such issues, and even good intentions can leave an estate vulnerable to legal action if one or more children believe that they have been slighted. The best time to head off such trouble is during Read More

Extensive Prince coverage highlights something important to us all

Media outlets across the country and around the globe are covering of death of musician and superstar Prince. Regardless if individuals were avid fans of the pop star or indifferent to his music, there is one thing about the late musician we can all relate to. First, there was the initial shock of his passing. Then, an intimate funeral service  and subsequent cremation. But now comes the task of administering his Read More

The importance of beneficiary designations

A lot of people in Georgia think that a last will and testament is the single most important piece of an estate plan. While a will is very important, there are other documents that are just as crucial. People should give special attention to the beneficiary designations on their financial accounts because these designations can overrule what is written in a will. Though beneficiary designations are sometimes Read More