Video Wills You might wonder whether you can make a video recording of yourself stating who gets your stuff and use the video as your Will. Well, as Jesse Beck’s family found out, that probably doesn’t work. At least not yet. In Estate of Beck, 557 P.3d 1255 (Mont. 2024), Jesse made a recording on […]
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In Georgia, an individual has legal capacity to make a Will “when the testator has a decided and rational desire as to the disposition of property.” O.C.G.A. § 53-4-11(a). Georgia also recognizes that capacity is fluid and the testator may be able to make a Will even when he or she is unable to enter […]
Last updated 2/28/2025 The Georgia Power of Attorney Act was enacted in 2017 (HB 221) and amended in 2018 (HB 897). It is codified at O.C.G.A. § 10-6B-1 et seq. The Act was effective as of July 1, 2017. It does not apply to powers of attorney executed prior to the effective date, but powers […]
In North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust, the U.S. Supreme Court was asked to review North Carolina’s attempt to tax an out-of-state trust. Justice Sotomayor, writing for a unanimous court, said the case was about the limits of a State’s power to tax a trust. “The North Carolina […]
Not everything goes through someone’s probate estate. That means not everything passes through your Will. If you care how your assets are distributed, then it’s important to coordinate how your probate and non-probate assets pass following your death. Property held as joint tenants with right of survivorship (JTWRS) does not pass through anyone’s Will until […]
Georgia law defines a Will as “the legal declaration of an individual’s testamentary intention regarding that individual’s property or other matters. Will includes the will and all codicils to the will.” O.C.G.A. § 53-1-2(17). A Codicil is “an amendment to or republication of a will.” O.C.G.A. § 53-1-2(4). No particular form is necessary to constitute […]
One question we frequently get is what happens to a home mortgage after my relative (usually mom or dad) dies? The Garn-St. Germain Depository Institutions Act of 1982 addresses so-called due on sale clauses. Specifically, at 12 U.S.C. § 1701j–3(d), the Act provides: With respect to a real property loan secured by a lien on […]
What is Form 1041 used for? If an estate or trust has gross income of $600 or more during a tax year, it must file a tax return. The fiduciary of a domestic decedent’s estate, trust, or bankruptcy estate uses Form 1041 to report: The income, deductions, gains, losses, etc., of the estate or trust; […]
IRS Form 56 is used to notify the IRS of the creation or termination of a fiduciary relationship under section 6903 and provide the qualification for the fiduciary relationship under section 6036. Form 56 cannot be used to update the last known address of the person, business, or entity for whom you are acting. Use […]
Many people think that estate planning is just having documents prepared. They have a lawyer prepare a Will, get it signed and they’re done. As Lee Corso says on Game Day, “Not so fast!” The hardest part of stepping into someone else’s shoes, whether its as an agent under a power of attorney, or as […]
