In Georgia, traditional domestic asset protection trusts (DAPTs) are not permitted, potentially leaving your foreign and domestic assets unprotected. However, a hybrid domestic asset protection trust (HDAPT) offers a viable alternative for asset safety. An HDAPT...
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Estate Planning
Nobody is too young for an estate plan
You are young, healthy and busy building your life. Estate planning might seem like a premature idea, something for older relatives or retirees. But life is unpredictable, and having an estate plan in place can bring peace of mind and protect your loved ones, no...
Caring for your pets after you pass away
You may think of your pets as cherished family members, and planning for their care can help prevent them from facing uncertain futures or ending up in shelters. Addressing your pets in your estate plan can help you feel more confident that they will be cared for if...
Does debt pass to the next generation in an estate plan?
When someone passes away, there is a wealth transfer. Their assets move on to the next generation. If they die intestate – without an estate plan – then state law may dictate how these assets should be divided. If they make an estate plan, they can choose...
How can an estate plan help people prepare for cognitive decline?
As people age, preparing for the future becomes crucial. Cognitive decline could affect their ability to make decisions and manage our affairs. Thankfully, estate planning can help people prepare for cognitive decline, ensuring that both they and their loved ones have...
How political polarization is affecting estate planning
Politics always could arouse heated discussions, but the current political climate in the U.S. is seeing things taken to even more extreme levels. The polarization of politics, in part aided by the influence of social media, has led to a situation where many families...
What does an executor of an estate do?
As you make your will, you may be given the option to name an executor of the estate. An executor is responsible for fulfilling your last wishes and settling your estate. Anyone of legal age can be your executor. However, you may want to pick someone who is trusted...
Estate planning checklist after receiving a terminal diagnosis
Learning you have developed a terminal illness is both emotional and challenging, to say the least. Once the immediate shock fades, it is not uncommon to begin thinking about more practical matters. For instance, how you want your final days to pass and how to provide...
2 benefits of a payable-on-death account
Did you know that you can add a beneficiary designation to your bank account? You can turn it into a payable-on-death account. When you pass away, then the beneficiary takes over control. Of course, you could always just list the money from that bank account in your...
3 probate expenses that can drain an estate of value
Family members and other beneficiaries or heirs often take some comfort in inheriting from an estate. Individuals planning for the future often go to great lengths to leave the resources that their loved ones may require along with assets that may have emotional value...