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When preparing your estate plan or going through the probate process, you may hear the term “heir” or “beneficiary” with regard to inheritance. In TV shows and movies, they like to depict the heirs of the decedent inheriting from them automatically upon their death. In reality, however, this is not always the case.

Whether you are preparing your own estate plan or probating a loved one's estate, you might notice a great deal of legal jargon that may or may not be hard to understand. It's easy for us to explain what certain terms mean for our clients when we sit down and talk about their estate plan, a...

You may have seen a movie or TV show once or twice that has portrayed court cases, interrogations, and my personal favorite, will readings! It usually goes like this: The family is gathered around the deceased patriarch's mansion library or attorney's office; the walls are paneled with dark wood, and everyone is dressed extravagantly (except for that one eccentric son wearing jeans and a t-shirt and trying to put his feet up on the table). You’ll then see a lawyer dressed in a 3-piece suit walk in with his brief case, sit behind the large wooden desk, pull out a file, and say, with some authority, "We will now read the will," which will later be followed up with the family fighting or being completely shocked that grandpa left his fortune to the nurse that was taking care of him.

Sometimes we do things the easy way, and sometimes we do them the hard way – whether by accident or by choice. Often, I have clients tell me that they want to make things as easy as possible for their family if something happens to them, such as incapacitation or death. That desire is the driving force that gets them into our office to design an estate plan to address their situation, concerns, and goals.

For some, the probate process can be a daunting responsibility that must be undertaken after their loved one has died. Most people are unfamiliar with the process and may be unsure even where to begin. One of the most surprising things people learn while probating an estate is that not all assets are distributed through the probate process, but rather are distributed to persons outside of probate. These assets are referred to as “non-probate assets” while the assets that do go through probate are called “probate assets.”

Whether you are going through probate or doing your own estate planning, you might hear the terms, “testate” and “intestate” estate mentioned at some point in either process. To put it simply, “intestate” is a term used when someone dies without a will. Their estate will then be referred to as an “intestate” estate and the state will decide who will serve as the administrator of the estate and how assets shall be distributed after the decedent’s expenses are paid. On the other hand, if a person were to die testate, it means they died with a will.  In a testate estate, the will would set forth who should serve to administer the estate and have a plan as to how the assets should be distributed after all valid debts and bills have been paid.

If you or someone you know is going through probate to settle the estate of a loved one, you will likely be exposed to some terms that you may have never seen before or don't understand. Probate can be a confusing process, but understanding what some of these terms mean may make the process easie...

            It's no secret that people dream about their summer vacation when they are slammed at work or have a long list of to-dos for the week. In fact, some people might even start planning for their vacations in the winter. However, something people don't normally plan for, or even think abo...

          When planning for what happens to our assets after we die, we must look at our family and decide who gets what, if anything at all. Not all our family situations are one-size-fits-all and, in some instances, creating a will is not a simple task to bear when making these decisions. This ...

Last week we discussed the estate tax, and learned that individuals can shield $12.6 million dollars of their estate from the federal tax at their death. This is good news for the majority of folks whose estate totals far less than $12 million. However, some people prefer to give away portions of...

You may have heard the old saying, “Only two things are guaranteed in life; death and taxes.” It's a pretty safe bet that these two realities rank pretty far down the list of your favorite things to think about, but think about them you must, especially when considering your estate plan. Everyo...

Thanks to you and your support, Peach State Wills & Trusts is excited to announce that we have once again been named among the best estate planning firms in Gwinnett for 2021 by Gwinnett Magazine's Best of Gwinnett. This is our third consecutive year to receive this honor, and we owe it all t...

The Truth About Revocable Living Trusts: What They CAN'T Do We discussed previously the proliferation of misinformation regarding Revocable Living Trusts, and why you should carefully do you own research. In the next few blog posts, we are going to discuss some of the most common misconceptions ...

What is the most misunderstood element of estate planning? In our experience, the answer hands down is the revocable living trust. Why is there so much confusion surrounding revocable living trusts, or RLTs? One of the main reasons is simply a widespread misunderstanding and ignorance of estate ...

Many people think of estate planning as something to be done later in life, after the kids are grown and out of the house and you're nearing retirement. While folks at this stage of life certainly should make sure their planning is complete, we recommend considering your estate plan much earlie...

We can hardly believe it, but 2021 is drawing to a close. This is a great time to review your estate plan and consider what planning needs you might need to take care of in 2022 to protect yourself and your loved ones. Take some time in the coming weeks to ask yourself these questions… Do I ...

In our experience, one of the most overlooked estate planning needs is business continuity planning. Many business owners don't realize that they need to plan for what will happen to their business should they die, become incapacitated, retire, or simply be out of the office for an extended per...

When drafting their estate plan, many people want to make the task of distributing their estate as easy as possible for their Executor when the time comes. The most important way to do this is simply to have a properly executed Will and/or trust in place. If you are using a Will-based plan, an ...

In the last few weeks, we have received several calls from folks who have recently moved to Georgia from other states. While they have a completed estate plan from their home state, they are under the impression that their documents are invalid in Georgia, and they must re-do their planning. Th...

It's that time of year again! Voting has opened for Gwinnett Magazine's Best of Gwinnett 2021, and Peach State Wills and Trusts needs your help. Thanks to you, we were voted a Best of Gwinnett estate planning law firm in 2019 and 2020. With your support, we're hoping to hold onto th...

Technology has revolutionized our society. Even in the last two years, we have seen more and more go digital. From school to work to doctor's appointments and even grocery shopping, many things are now done online from the comfort of our own homes. In an increasingly paperless world, clients so...

A Power of Attorney is an essential document that ensures one's assets, bank accounts, and other financial affairs can be managed by a trusted loved one. But what about after the principal of that POA dies? Can the agent under the POA still manage his or her affairs? The answer is no. The au...

Once your Will has been properly signed and witnessed, your estate plan is officially in place.  You don't need to take it to the courthouse or file it with the state. There's no waiting period for it to take effect.  It won't expire. It is valid, and will remain valid… Unless something happ...

We've discussed the advantages of revocable living trusts before. While (contrary to popular belief) they aren't necessary for everyone here in Georgia, RLTs may be of benefit to those who own property outside of Georgia, have blended families, concerns about asset protection for children, or p...

What is the difference between an estate planning attorney and a probate attorney? Many people use the terms interchangeably, but while some attorneys may handle both estate planning and probate matters, these are actually two distinct practice areas. At Peach State Wills and Trusts, we prac...