If you are preparing to create or update your will, it is essential that you know what your will can and cannot do.
Here are a few examples.
Legal Responsibilities of Marriage
Under Georgia law, all spouses and minor children of a decedent are entitled to Year’s Support – money or other assets from the decedent’s estate sufficient to support the spouse and minor children for one year following the decedent’s death. While your will can require your spouse to choose between Year’s Support and the bequests provided for them in the will, Georgia’s Year’s Support law prevents married people from leaving their spouses and minor children with nothing.
Pets are Property, Not Beneficiaries
In most households, pets are like family members and it is hard to imagine leaving them when you pass away. However, as far as the law is concerned, pets are considered your property. Since property cannot own assets, you cannot leave pets money or property in your will. But you can still provide for their future care in your estate plan.
Assets Have Already Been Handled
Real estate, cars, boats, and other property titled jointly with rights of survivorship will pass to the joint owner regardless of what your will says. The same is true for Joint bank accounts and pay-on-death (POD) accounts, assets held in trust, and life insurance policy benefits. In most cases, these assets will be dispersed before the will is admitted to probate.
Are you in need of advice and guidance concerning disputes, disagreements, or the legality of your will?
The attorneys of Gaslowitz Frankel have over 25 years of experience in handling will and trust disputes in Georgia.
Contact our experienced attorneys to schedule a consultation today.
Gaslowitz Frankel LLC is the Southeast’s premier fiduciary litigation law firm. Our legal team specializes in all aspects of fiduciary disputes representing individuals, executors, trustees, investors, shareholders, and corporate fiduciaries in complex fiduciary disputes involving wills, estates, trusts, guardianships, businesses, and securities law.
