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

The versatility of trusts for children

Parents in Georgia who are creating an estate plan may think that a will is the best way to pass assets down to children. A will can appoint guardians for minor children, but other vehicles have advantages as well. Beneficiary designations and titles are a way of ensuring that assets pass to heirs quickly and privately. Beneficiary designations can be used with assets such as retirement accounts and life insurance Read More

The hidden culprit inside many nursing home contracts

After avoiding the issue for years, a 67 year old man knew it was time. He admitted his parents to a nursing home. According to him, the paperwork was simply “a little more than a formality.” But that small formality is now part of a broader elder law issue that has stirred nationwide attention. The basic facts are as follows: Three years after his mother was admitted, she was found dead in her room at the hands of a Read More

The role of the settlor of a trust

Estate planning can be confusing for Georgia residents, and the process is filled with terms that are unfamiliar to many people. One of the most common terms involving trusts is settlor, which is often confused with settler but has an entirely different meaning. The settlor of a trust is simply the person who creates it. This is accomplished by first establishing the terms of the trust in a legal document. Then the Read More

The importance of will and trust reviews

A Georgia couple that has a bypass trust in place in order to minimize federal estate taxes may want to revisit their estate plan if there has not been a recent review. In some cases, this type of trust may be in place based on estate planning that took place during a time period that was known for high tax rates and low exemption levels. In the 1990s, only $675,000 per spouse was exempt from the extremely high Read More

Worried about nursing home costs? Don’t transfer your assets

Many people today are included in what’s referred to a “sandwich generation.” They are raising children of their own but also taking care of the needs of their aging parents. When handling Medicare and other issues involving elderly parents, many worry about nursing home care and the costs associated. They often wonder whether their parents will lose their home if they have to be placed into a senior care facility. Read More