Although there are many estate planning resources online which can help you create a Will on your own, these services cannot replace the guidance and expertise of an estate planning attorney. In my experience, one key shortfall of using online services for your estate plan relates to the actual execution of the documents. If you…
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When thinking about your estate planning, have you planned for your pet(s)? For many of us, our pets are like children, and we want to ensure that they are properly cared for in the event of our unexpected passing. In Georgia, pets are considered personal property so you can give your pet to an individual…
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As we turn over the calendar to a new year, many of us partake in an end of the year clean out ritual to rid ourselves of the things that no longer serve us. I decided to start my clean out with a box of jewelry I inherited from my mother and grandmother. I personally…
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A credit shelter trust (CST) is a type of trust that is used to protect assets from estate taxes. It is typically used by married couples to ensure that their assets pass to their heirs without being subject to estate taxes. The CST works by transferring assets from the first spouse to the trust, which…
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Is your young adult headed to college in the fall? Does your long to-do list include estate planning for your high school graduate? It should! We are re-publishing this blog post on what you 18-year-old needs to consider. Call or email us this summer to get them started on the right path. “A client recently…
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What is a Health Care Directive? The Georgia Advance Directive for Health Care (“Health Care Directive”) is a legal document that allows you to name someone to act on your behalf in a health care context should you become unable or unwilling to speak for yourself. This person is called your “agent.” The Health Care…
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Last year we provided some advice for gifting during your lifetime. See this link https://legacystudiolaw.com/should-you-consider-gifting-money-to-family-or-friends-during-your-lifetime-as-part-of-your-estate-plan/ The numbers have been updated for 2023. You can now give an individual gift of up to $17,000 a year to as many individuals as you want without having to file a gift tax return. Additionally, each individual’s lifetime gift…
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Legacy Studio was thrilled to have a dessert-n-learn with Jana Eplan, founder of Senior Living Solutions. Jana is a friend of the firm, and came to educate us about the myriad of options available in Atlanta for senior living. Finding the right solution can be overwhelming, but Jana and her team can help sort through…
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The IRS has increased the maximum amount we can gift to individual family members and friends tax-free from $15,000 to $16,000 per recipient per year. This means you can now give an individual gift of up to $16,000 a year to as many individuals as you want without having to file a gift tax return.…
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One of the main facets of your job as an executor or administrator is to protect and preserve the assets of an estate. When the estate includes property of value, including a house, car, jewelry, art, etc., you should find out how that property is insured and maintain that insurance while that property remains an…
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