Trusts Archives - Page 2 of 8

October 15, 2024

How Do I Know What Assets I Have?

Today we are taking a close look at assets! Asset is a fancy word used in the legal and financial world to describe things that hold value. Meanwhile debts are used to describe monies owed. The tricky thing here is that you may actually hold a debt on an asset! Whether you’re here hoping to learn more about your own net worth or trying to ascertain what assets

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October 15, 2024

Trust Distribution Examples

Are you considering a Trust but don’t know how the money practically gets to the beneficiaries after your death? This article addresses just a few of the more popular types of distribution options and how those work. https://youtu.be/I9PjzIAVdrU Health, Education, Maintenance, and Support This option allows the trustee to release funds to pay for the beneficiary’s specific needs as they pertain to health, education, maintenance, and support. Often

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October 15, 2024

Who makes decisions if you’re incapacitated in Georgia?

Imagine this: You’re in a car accident. You’re unconscious. The doctors need to act quickly, but no one is legally authorized to make decisions on your behalf. Your mortgage is due, but you’re the only one who knows how to access your account. Your kids need someone to pick them up from school, but the school has never met your sister, who lives nearby. In an emergency situation,

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October 14, 2024

How to Use an ILIT to Keep Life Insurance Proceeds Out of Your Estate

Today we are taking a close look at a very important estate planning tool: the Irrevocable Life Insurance Trust. While the Irrevocable Life Insurance Trust is a very simple Trust with a very simple purpose, it is also very simple to screw it up—especially if you DIY it. Let’s take a closer look at the Irrevocable Life Insurance Trust and best practices so it doesn’t become a headache for

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September 17, 2024

Video: How To File For A Tax ID Number

A Tax ID Number, also known as an employer identification number or EIN, is needed for new businesses and is often needed for Trusts. Maybe you find yourself in a situation where you need an EIN but you don’t know how to go about getting one. Today we are taking a closer look at the EIN and how to get one. How Do You File For a Tax

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August 1, 2024

PROFESSIONAL TRUSTEE, OR FAMILY AND FRIENDS – WHAT’S THE BEST CHOICE?

Choosing a trustee is one of the most important decisions you will undertake when setting up your trust, and it’s often one of the most difficult. There are many things to consider, and each situation is different, so it’s important to talk through your goals and intricacies with a competent estate planning attorney before you settle on your choice of trustee. Click here for more information on setting

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June 10, 2024

At What Net Worth Do I Need A Trust

Today’s video delves into trusts and at what net worth you should get a trust. So many people have asked us this question and we want to answer it for you! Watch the video below then read on to learn the answer may be different than you think. https://youtu.be/9jcuuTBzgPk?si=P_ZRKlc20pFxgu2W What Is a Trust? A Trust, simply put, is an entity that owns property. The trust agreement, or trust document,

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June 3, 2024

Georgia Estate Tax: What You Need To Know

Today we’ll be looking into estate tax and how it affects your estate plan. Specifically, we are taking a closer look at estate tax in the state of Georgia. https://youtu.be/-S44EZkjGZ4?si=YkMFchATlGaLa2Ii What Is Estate Tax? Estate tax is also commonly referred to as “death tax”. Estate tax is assessed on and paid by your estate after your death—if your estate is valued above the exemption limits. As it stands right now,

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April 12, 2024

How to Keep a Vacation Home in Your Family for Generations

Whether it’s a little mountain cabin, a lake house with a view, ranch land out west, or a beachy bungalow on the coast you have worked hard to purchase your vacation home. We know a benefit of having this property has been the laughter and joy of your whole family enjoying the use of it for years. The next big question on your mind is probably how do

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February 27, 2024

Protecting Your Privacy In Your GA Estate Plan

Privacy is one of the most important things to many in your GA estate plan. Today’s article focuses on privacy and the steps you can take to protect it. An important distinction about privacy is: do you want it now, while you’re alive? Or is your privacy important even after your death? Some people don’t mind that certain documents become public record after their death, while others don’t

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