![\"estate_planning_150\"](\"http:\/\/judgejordan.com\/judgeblog\/wp-content\/uploads\/2015\/05\/estate_planning_150.jpg\")
<\/a>May 2, 2015 \u00a0The words \u201cAvoid Probate\u201d are often repeated as if \u201cProbate\u201d is a creature to be avoided. Is it? What would be some of the reasons to avoid this supposedly horrible experience.<\/p>\nThe truth is that the probate procedure in Georgia is inexpensive, private, quick, and efficient IF one plans ahead and seeks the proper advice.<\/p>\n
In some states, there may be a reason to avoid the probate process. Some of those reasons:<\/p>\n
(1) \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 An inventory of everything might have to be filed;<\/p>\n
(2) \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 A tax might be levied according to the value of the estate;<\/p>\n
(3) \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Court permission might have to be obtained for all transfers;<\/p>\n
(4) \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Reports of all actions may have to be filed; and,<\/p>\n
(5)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Everything is public record.<\/p>\n
<\/p>\n
Here in Georgia, none<\/u><\/strong> of that is necessary with a properly done will. When I was practicing law, I often met with my client, we signed the Petition to Probate the will, walked across to the Probate Court, filed everything, took the oath, and the will was probated in, literally, five minutes. Six months later, all property was transferred and the estate was closed. The cost was miniscule when compared to the \u201cliving trust\u201d fee that the \u201cavoid probate\u201d folks would have charged.<\/p>\n Be cautious of trying to do it yourself. The DIY will and other documents may be just fine, but more often than not there are problems. I will have a separate brochure on DIY situations.<\/p>\n Why prepare a well drafted will?<\/p>\n (1)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The obvious reason is to leave property to whom you wish. If there is real estate in the estate, the probate of a will aids in the orderly transfer of title.<\/p>\n (2)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Parents with younger children should certainly prepare wills so as to provide for those children in the event something happens to both parents. This is so important that it will be the subject of separate brochure.<\/p>\n (3)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The estate planning process in which the will is drafted may reveal some areas in which remedial action is necessary. This can be a discovery that title to property is unclear, that action is necessary to reduce taxes, etc.<\/p>\n (4)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Contingencies can be considered. What about grandchildren? A divorced child? A deceased child?<\/p>\n (5)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The words \u201cwell drafted\u201d in the introductory line to this basic list are important because the use of certain words and clauses can result in the \u201cfive minute\u201d probate I referenced earlier and the smooth administration of the estate thereafter.<\/p>\n When meeting with your attorney in the estate planning process, he or she may determine that some tax advice or planning is necessary where larger estates are involved. On many occasions my clients would be sent to meet with their CPA or other advisors before preparing the estate planning documents. That process was needed only in the larger estates.<\/p>\n In the planning process \u2013 and this does not depend on estate size \u2013 other documents such as powers of attorney and health care directives are prepared and signed. This is such an important aspect of the planning process that it will be treated elsewhere.<\/p>\n The important concept to take away from the reading of these few words is that the phrase \u201cavoid probate\u201d can often be read the same as the pitch \u201corder within the next five minutes and we will include a second can of Miracle Goo absolutely free!\u201d<\/p>\n Choose the right attorney, plan well, and those remaining after you pass on will be grateful.<\/p>\n","protected":false},"excerpt":{"rendered":" Don’t Be Misled May 2, 2015 \u00a0The words \u201cAvoid Probate\u201d are often repeated as if \u201cProbate\u201d is a creature to be avoided. Is it? What would be some of the reasons to avoid this supposedly horrible experience.<\/p>\n","protected":false},"author":1,"featured_media":180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[7,8],"tags":[],"class_list":{"0":"post-178","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-estates","8":"category-planning","9":"entry"},"_links":{"self":[{"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/posts\/178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/comments?post=178"}],"version-history":[{"count":4,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/posts\/178\/revisions"}],"predecessor-version":[{"id":211,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/posts\/178\/revisions\/211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/media\/180"}],"wp:attachment":[{"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/media?parent=178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/categories?post=178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/judgejordan.com\/judgeblog\/wp-json\/wp\/v2\/tags?post=178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}