Owning a dock often conjures images of peaceful sunsets, tranquil escapes and lazy summer afternoons casting lines into the water. It comes with a unique set of considerations, including the ownership and management of dock permits. But what happens when life changes and you want to transfer ownership of your home and its dock, perhaps to a trust? Transitioning a home with a dock permit into a trust can be a strategic move for various reasons. We work with our clients to provide guidance and support through the permit transfer process, ensuring your dock remains a ..read more

Estate planning is not just about distributing your assets among loved ones; it’s also an opportunity to leave a lasting impact on causes you care about. Charitable planning involves incorporating charitable giving into your estate plan, whether through charitable trusts or specific gifts to charities. It allows you to support causes and organizations that align with your values and passions, ensuring that your wealth contributes to positive change even after you’re gone. By strategically integrating charitable giving into your estate plan, you can optimize tax benefits, provide for your loved ..read more

Imagine having the power to motivate and inspire your loved ones even after you’re no longer around. An incentive trust is a powerful tool that allows you to do just that. While traditional trusts provide financial security and asset distribution, an incentive trust takes it a step further by encouraging specific behaviors and rewarding beneficiaries based on predetermined conditions. By incorporating incentives and conditions into the trust, you can influence your loved ones’ choices, values, and actions, ensuring that your legacy extends beyond mere financial support. An incentive trust is a ..read more

Today, we’re diving into a complex and often emotionally charged topic: blended families and their inheritance rights. Join us as we shed light on a scenario that might resonate with many of you. Imagine this: your father, a kind and loving soul, found happiness in a new marriage after a previous one. However, he didn’t adopt his wife’s two children from her previous relationship. Fast forward eight years, and your father has sadly passed away. As the dust settles, a pertinent question arises: Are his stepchildren entitled to an inheritance? Are the stepchildren heirs? In the intricate world o ..read more

Life insurance is important to have but imagine a life insurance policy that doesn’t pay out until both covered individuals have passed away. Sounds unusual, right? That’s the essence of a second-to-die life insurance policy, also known as survivorship life insurance. It’s not your typical life insurance, but it can be a valuable tool for specific situations. Second-to-die life insurance is a policy that covers two individuals under a single plan. Unlike traditional life insurance, the death benefit is not paid out until both individuals covered by the policy have passed away. Think of it as a ..read more

Contemplating the protection and management of your residence often leads to questions about whether to place it within a Limited Liability Company (LLC). This consideration involves weighing legal, financial, and personal factors to determine the best course of action. While LLCs offer some enticing benefits for business ventures and investment properties, the same logic doesn’t always apply to your primary residence. Potential Perks of an Limited Liability Company Home One key consideration for placing your residence in an LLC is the potential for enhanced asset protection. LLCs provide a l ..read more

Losing a loved one is already an emotional ordeal. Adding the complexities of probate, the legalities involved in settling the deceased’s estate can feel overwhelming. While navigating this unfamiliar territory, heirs and beneficiaries deserve clarity. One important element is understanding the information they are entitled to during the probate process. Notification and Documentation Heirs and beneficiaries have the right to be notified when the probate process begins. The executor or personal representative of the deceased person’s estate is responsible for sending formal notices, informing ..read more

Executors and trustees are appointed by a court or in a Will or Trust to manage someone’s estate or trust. The role of an executor or trustee is important in the administration of an estate or trust, involving various responsibilities such as asset distribution, creditor payments, and adherence to the deceased’s wishes. A common question that comes up is whether the executor or trustee is entitled to compensation for their services.  Understanding the Basics  In many cases, executors and trustees are eligible for compensation, with the specific amount typically outlined in the Will o ..read more

Ancillary probate refers to a legal process that typically occurs when an individual owns property in multiple states at the time of their death. This can result in their loved ones having to initiate probate proceedings in each of the states where those properties are located. Such a process can be complicated, as it requires compliance with the legal requirements of each state where the property is located.  Key Aspects of Ancillary Probate Ancillary probate involves several important aspects for individuals managing assets across multiple states. It becomes relevant when someone passes ..read more

Georgia does not have a small estate probate process; however, Georgia code, O.C.G.A. § 7-1-239, does include a provision that allows heirs to acquire financial assets from a financial institution without having to go through probate court when the deceased died intestate. In Georgia, an Affidavit of Small Estate allows collection of not more than $15,000.00 from financial institutions under certain circumstances. The Affidavit of Small Estate offers a more efficient and cost-effective way to handle these assets when there isn’t a formal will and when the financial assets are not more tha ..read more