Trusts Archives - Page 8 of 8

January 24, 2017

Special Needs Trust Fairness Act Promotes Independence, Self-Advocacy

Summary: The new Special Needs Trust Fairness Act helps empower adults to be independent and advocate for themselves. It makes it easier for those with disabilities to establish their own trusts, and to improve their own lives without sacrificing government benefits. The Special Needs Trust Fairness Act recently passed into law, making it easier for those with disabilities to establish their own trusts. The Special Needs Trust Fairness Act,

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December 1, 2016

Federal Gift Tax and How it Applies to You

Each calendar year, a person can gift up to $16,000 in money or assets to an unlimited number of different recipients, without having to pay the federal gift tax. If an individual gifts more than $16,000 to another person within the calendar year, he or she (the one gifting the money) is subject to the federal gift tax. Georgia does not apply a gift tax at the state level.

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September 21, 2016

What A Will WON’T Do

Summary: Siedentopf Law explains the limitations of a Last Will & Testament and the type of functions it cannot -- or should not -- do. A Last Will & Testament plays an important role within the field of estate planning. With a will, you can memorialize decisions about who will inherit your property, or who will serve as guardian for your children. Wills are valuable tools – but they

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September 6, 2016

Should I Accept the Role of Executor?

Should you accept the role of an estate executor? Siedentopf Law explains the qualifications under Georgia Law, the skills needed, resources available to executors, as well as other issues to consider. We also take a look at what may happen if you turn down the role. You may be surprised to learn that a friend or family member wants you to serve as estate executor, or that you

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June 14, 2016

Can I include my pet(s) in my estate plan?

Summary: Siedentopf Law explains the different ways you can include your pets in your estate plan. Estate planning is an important process through which a person can provide for their family members and other loved ones. For many of us, our “family” includes our parents, children, partners, relatives… and our beloved animals. When it comes to our pets, is there a way to ensure they will be taken

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March 21, 2016

Dealing With Digital Assets in Your Will and Power of Attorney

Summary: You've prepared a list for your executor that includes all of your digital assets (social media accounts, cloud storage, online files, etc) and the corresponding log-in information. The next step is making sure that your estate plan includes language that gives the executor permission to access those accounts. UPDATE: Find out more about Georgia's new legislation here. My blog has been on a bit of a digital assets

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March 14, 2016

Best Practices for Password and Account Information Storage

Summary: As you prepare a list of digital assets for your executor or personal representative, it is also important to provide them with the passwords and log-in information for those files and/or accounts. You can keep a physical list or utilize an online password vault. While I absolutely recommend giving the executor of your estate the authority to deal with your digital accounts, that isn’t enough. Knowing passwords

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March 7, 2016

Who Owns Your Digital Assets After You Die?

Summary: Who owns your digital assets after you pass away? Social networking platforms each have their own policies in place. Georgia has enacted legislation that allows an estate executor or personal representative to access digital accounts with the owner's permission. UPDATE: Find out about the new 2018 Georgia legislation. Who owns your digital assets after you die? You own them now, subject to lengthy user agreements of course,

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February 29, 2016

Facebook Options After Death

Summary: When someone passes away, it can be difficult to decide what to do with their Facebook account. The social media platform is now offering memorial accounts, legacy contacts, and other specialty settings. When someone near you passes away, social media accounts are not the first thing that comes to mind. But soon enough, the issue will present itself. It can be difficult to decide what to do with

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