Last Will and Testament is a significant part of any estate plan, especially if you want to ensure assets are passed to those individuals or organizations of your choosing. A Will includes the probate process meaning that the Probate Court will oversee the administration of the estate. Therefore, the Executor of your Will has to conduct himself or herself in accordance with the laws of the State of Georgia and can only be relieved from those duties after completion and upon petitioning the Probate Court for discharge. This can be a significant burden on the Executor so many clients choose to avoid the probate process by putting a trust in place instead.
Trusts come in many varieties and forms. The most common trust is a Revocable Living Trust to avoid the Probate Court process. This means that upon the decedent’s death, another individual or company can step-in as the trustee to pay the decedent’s creditors and distribute any remaining assets to trust beneficiaries. In other words, it is a smooth transition without the headaches of court. We also specialize in Asset Protection Trusts to limit tax exposure and for Medicaid long-term care planning.