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August 2019 Archives

Revocable trusts and contingent beneficiary rights

Revocable trusts are often an important part of estate plans in Georgia because, among other advantages, they avoid the cost, publicity and delay of the probate process. During the life of the person who makes the trust, called the settlor, it allows for the estate to be managed with or without a third party. When the settlor dies, a revocable trust can act as a substitute for a will by providing direction as to the disposition of property.

Tips for dealing with family conflict in estate planning

People in Georgia should consider family dynamics carefully during the estate planning process. This includes thinking ahead as to what they would prefer to happen if a child divorces and remarries. For example, if this occurs, assets left to the child could end up going to that child's stepchildren. A trust could prevent this from happening.

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