by Susan Grissom | Oct 11, 2022 | Estate Planning, Wills & Trust
A common assumption by young adults is that they do not need to take the time to put an estate plan in place because as young adults, they don’t have an “estate”; however, if you have a bank account, 401 (k) or other assets, you have an estate. If you don’t have any...
by Susan Grissom | Oct 4, 2022 | Elder Care, Estate Planning, Wills & Trust
Estate Plans change through the stages of life and have many purposes: (i) to name agents to make decisions for you if you are unable to do so, (ii) to decided how to dispose of your wealth, (iii) to name guardians for your minor children, (iv) to minimize taxes, (v)...
by Susan Grissom | Aug 30, 2022 | Probate, Wills & Trust
When you create a Will in Georgia, you must make sure it is valid. The probate court determines the validity of a Will based on the statutes. If the probate court finds that your Will is not valid, it processes the Will as if you were to die intestate – without a...
by Susan Grissom | Aug 16, 2022 | Estate Planning, Wills & Trust
An Irrevocable Life Insurance Trust (ILIT) is an estate planning tool that moves your life insurance policy into an irrevocable trust. Once the trust is created, the value of the policy is removed from your taxable estate and protected from any possible creditors if...
by Susan Grissom | Aug 9, 2022 | Estate Planning, Wills & Trust
Sometimes referred to as an AB Trust, or Bypass Trust, a Credit Shelter Trust is used when a couple either has a taxable estate or is likely to have a taxable estate by the time they pass. Although the current federal estate exemptions are high ($24,120,000 in 2022),...
by Susan Grissom | Jul 26, 2022 | Estate Planning, Wills & Trust
A grantor retained annuity trust and grantor retained unitrust are two types of trusts commonly used in estate planning. Both affect the amount of death taxes you might pay if you pass the threshold, and both work to save your estate money. Both can be part of a plan...
