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It can be complicated to figure out where to probate a loved one's estate, but it doesn't have to be. Ordinarily, probate should be established in the county where your loved one resides at the time of death. However, there are certain circumstances where it may be more appropriate to open an estate in a different state from the state of residence. If you're unsure where to probate the estate, we've put together the following scenarios to help you find the right place to open and probate the estate your deceased loved ones left you.
Explore probate complexities through recent estate cases, like Lisa Marie Presley and Aretha Franklin. Learn lessons on creditor claims, claim timelines, and handling IRS disputes. This underscores the need for meticulous adherence to state laws by executors. Neglecting creditors' claims can impact distributions and expose representatives to legal consequences. Discover essential proactive measures for safeguarding the probate process and honoring the decedent's wishes.
Navigating priorities can be tricky. This guide dives into O.C.G.A § 53-7-40, explaining who gets paid first: family, funeral costs, taxes, debts, and more. Understand your rights and responsibilities in clear, concise terms.
Probate is a vital legal process for ensuring the proper distribution of a deceased person's assets and settling their final affairs. However, not probating an estate can lead to significant financial consequences. In this article, we delve into the risks associated with neglecting the probate process and emphasize the importance of taking the necessary steps to safeguard your financial future.
A personal representative is a fiduciary that acts on behalf of an estate until all estate affairs are settled and the estate is properly closed with the court's approval.
Updating your beneficiary designation is crucial when a significant event happens, such as birth, adoption, marriage, divorce, and death. You must complete an update form with the right beneficiary if your designated beneficiary is no longer the best choice for a certain account. The consequences of not updating a beneficiary designation are vast and dangerous. The benefits could pass to someone you don't want to inherit.
Guardian Ad Litem (GAL) is the person appointed by the court to defend and protect the rights and interests of the heir of a deceased person's estate in circumstances where these individuals cannot legally represent or speak for themselves in probate proceedings because their mental or physical being may be limited.
Some of us have put our properties, like a home and land, in a trust as part of our estate plan. In transferring properties to a trust, whether a house or land, additional paperwork should be completed. For example, your living trust will only be properly funded if you take the necessary steps to ensure that the title to your home is properly and legally transferred to the trust. Funding is the process of transferring title to an asset from your name personally to the name of the trust. Once funding is accomplished, there are certain benefits that will need to be renewed such as homestead exemption. It is important to re-apply for any exemptions or incidental benefits that may have been held prior to funding your property to the trust.
When a loved one passes away, dealing with the financial affairs of their estate can be overwhelming, daunting, and stressful. Many families try to name a family member as their preferred executor in their Will—but that can put that family member at risk if there is a conflict of interest during grieving.
The law in Georgia is very clear about who controls the estate or the assets if a loved one dies in Georgia.