Frequently Asked Questions About Estate Law in Atlanta

Estate law can be complex and overwhelming, especially when navigating it for the first time. To help demystify the subject, here are five frequently asked questions about estate law in Atlanta, along with detailed answers.

1. What is estate planning and why is it important?

Estate planning involves making arrangements for the management and disposal of a person’s estate during their life and after death. This process includes drafting documents like wills, trusts, and powers of attorney.

Importance:

• Ensures Your Wishes Are Followed: Estate planning allows you to specify how your assets should be distributed, ensuring your wishes are honored.
• Minimizes Taxes and Expenses: Proper planning can help minimize estate taxes and other legal fees, preserving more of your estate for your beneficiaries.
• Provides for Loved Ones: You can designate guardians for minor children and make specific provisions for family members with special needs.
• Avoids Probate: Effective estate planning can help your estate avoid probate, which is often a lengthy and costly process.

2. What happens if someone dies without a will?

When someone dies without a will, they are said to have died intestate. In this scenario, state laws determine how the deceased’s assets are distributed. Atlanta typically follows this general hierarchy:

• Spouse and Children: The estate is usually divided among the surviving spouse and children.
• Parents and Siblings: If there is no spouse or children, the estate may go to the deceased’s parents or siblings.
• Distant Relatives: If no close relatives can be found, more distant relatives may inherit the estate.
• The State: If no relatives are found, the estate may eventually escheat to the state.

Without a will, the distribution might not reflect the deceased person’s wishes, and it can lead to family disputes and legal complications.

3. What is probate, and how can it be avoided?

Probate is the legal process of administering a deceased person’s estate, involving the validation of their will, if one exists, and the distribution of assets under Georgia state court supervision.

To avoid probate, consider the following strategies:

• Living Trusts: Assets placed in a living trust can bypass probate because they are legally owned by the trust.
• Joint Ownership: Property owned jointly with rights of survivorship passes directly to the surviving owner.
• Beneficiary Designations: Certain accounts, like retirement accounts and life insurance policies, allow you to name beneficiaries directly, avoiding probate.
• Transfer-on-Death Deeds: Some states permit the use of TOD deeds for real estate, allowing property to transfer directly to a beneficiary upon death. In Georgia, including Atlanta, Transfer-on-Death (TOD) deeds, also known as Beneficiary Deeds, are permitted.

4. What is the role of an executor, and how are they chosen?

An executor is a person named in a will who is responsible for managing the deceased’s estate. Their duties include:

• Filing the Will: Submitting the will to probate court.
• Notifying Creditors: Informing creditors and settling debts.
• Managing Estate Assets: Taking inventory and managing the estate’s assets.
• Distributing Assets: Distributing assets to beneficiaries according to the will.

If no executor is named, or the named executor is unable or unwilling to serve, the court will appoint one. It’s important to choose a trustworthy and competent individual, as the role involves significant responsibility.

5. What are the benefits of setting up a trust?

Trusts are legal arrangements where one party (the trustee) holds assets on behalf of another party (the beneficiary). The benefits include:

• Avoiding Probate: Assets in a trust do not go through probate, allowing for quicker and potentially less costly distribution.
• Privacy: Unlike wills, trusts are not public documents, offering privacy regarding the distribution of your estate.
• Control Over Distribution: Trusts can specify conditions for distribution, such as age or achievement of certain milestones by beneficiaries.
• Protection: Trusts can protect assets from creditors and may provide for family members with special needs without affecting their eligibility for government benefits.

By understanding these key aspects of estate law, you can make more informed decisions about your estate planning and ensure your wishes are respected and your loved ones are provided for. Consulting with an estate planning attorney in Atlanta is advisable for personalized guidance​.