If the distribution of your property is important to you, you can use a will or a trust to give instructions about who gets what when you die. If you die without a properly executed estate plan, state law will determine how the probate court will divide and distribute the things you own. Of course, the state of Georgia’s estate plan won’t take your particular wishes into account. So, most people prefer to put their own plan into place.
Are you holding one or more 401(k) plan accounts from former employers? You have several options:
It’s that time of year again. Yes, it is New Year’s resolution time. Was making a will one of your unfulfilled resolutions from past years? Is it on your “to-do” list for 2018?
Having practiced law in Gwinnett County Georgia for over 40 years, that journey has taken many directions. I began practice as a real estate closing attorney when Gwinnett County was tied with Orange County CA as the fastest-growing county in the country. I was also an appointed counsel for criminal defense cases in Gwinnett Superior Court for a number of years.
Unlike a simple monetary inheritance, when someone dies and leaves an IRA (Individual Retirement Account) to a beneficiary, there are several distribution options and important deadlines that must be met to avoid problems with the distribution and to avoid potential tax penalties.
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