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Monthly Archive for: ‘June, 2016’

  • Is Your Will Valid?

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    In 2015, the Georgia legislature updated the requirements for executing a valid statutory Will.  Does your Will need to be reviewed?  Consider the following points for a Will to be valid in Georgia. 1.    Testamentary Capacity.   In order to have testamentary capacity, which is …

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  • Per Stirpes or Per Capita: Does it Matter?

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    Two ways for distributing property in a testator’s Will are per stirpes (Latin for “by the roots”) and per capita (Latin for “by the heads”). Distributions made per stirpes provide that members of a designated class, for example, all of a testator’s children, including deceased children, shall inherit as members of …

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  • Six Reasons to Consider Creating a Trust

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    Control Asset Distribution.   Your beneficiaries may not be prepared to manage their inheritance.  You can create a Testamentary Trust and appoint a Trustee who will make distributions to your beneficiaries according to your wishes.  For example, your Trust might stipulate that your Trustee make money …

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  • Keep That Asset Out of Probate!

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    Last month’s Hearsay discussed the importance of coordinating the beneficiary designations of your non-probate assets with the beneficiaries in your Will.  Now consider what can happen if you fail to designate a beneficiary of your non-probate assets. Your estate is liable for outstanding claims your creditors have …

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  • Coordinate Your Will and Non-Probate Assets’ Beneficiary Designations

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    A Will is only one part of a comprehensive estate plan.  Make sure the beneficiary designations for your non-probate assets are coordinated with your Will to ensure that the appropriate persons inherit from you. The distribution of non-probate assets, such as investment/retirement accounts and proceeds …

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  • Plan for the New Year

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    Make 2016 the year in which you create or update your estate plan! 1.   Update your beneficiary forms.  The distribution of non-probate assets such as investment and retirement accounts and life insurance policies is dictated by beneficiary designations – not your Will.  Coordinate your beneficiary designations …

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