Many Georgia residents hope to provide for their children and family after their own deaths. In order for estate administration to take place smoothly, an estate plan must be written and put in place to ensure that the individual creating the plan will be able to control who benefits from the estate. An estate plan also makes it much easier for an individual's surviving -- and grieving -- family to handle the decedent's estate, provided it is not only written down but professionally planned.
All property that a Georgia resident has at the time of his or her death -- no matter the form of ownership -- is subject to the federal estate tax. This tax is paid by the decedent's estate. This typically occurs before the property is distributed to the beneficiaries during estate administration.
Hillary Clinton's campaign for the Democratic presidential nomination has been described by some as cautious, pragmatic and meticulously prepared. Whether these attributes should be considered positive or negative in a candidate is beyond the scope of this article, but these are all certainly assets in regards to the managing of an individual's finances. Recently released financial disclosure forms have illustrated that this same level of detailed forethought has been implemented in regards to both her and her husband's estate planning, which will certainly yield dividends when it comes time for estate administration to take place. The study of their methods may be beneficial for Georgia residents who may have thought very little about their estates in this way.
When a person in Georgia dies, there is a legal process that follows in which that person's property is transferred. Known as probate, the laws and customs pertaining to the process may have changed slightly over time, but the basic purpose has nonetheless remained very much the same. People formalize their intentions for the transfer of their property's when they die in a will. The property is then collected, debts -- if any -- are paid from the estate, and, finally, the property is then distributed. Probate litigation occurs when a part of this process is contested.
We all wish we had some sort of super power, don't we? When we were kids we pretended to have super powers on the playground during recess - invisibility, superhuman strength, x-ray vision.