Although a divorce does not change the terms of a Revocable Living Trust, it can have an impact on the assets held in the trust. As the Grantor (creator) of the trust, you should review and update the trust after a divorce if you wish to make changes to the Trustee, beneficiaries, or terms of distribution to align with your current intentions.
READ MOREIn Georgia, adverse possession allows someone to gain legal ownership of another’s property by using it openly, continuously, and without permission for 20 years (seven with written title). To protect against adverse possession claims, owners should take legal action against trespassers as well as maintain, inspect, and clearly mark boundaries.
READ MOREThrift McLemore is proud to compete in this year’s Georgia Legal Food Frenzy! Now in its tenth year, the annual Georgia Legal Food Frenzy challenges the Atlanta le ...
READ MOREWhat you need to know about the rules on compensation and reimbursement for Georgia power of attorney agents.
READ MORECryptocurrency is easier than traditional assets to transfer, requiring nothing more than a digital passcode to access your wallet; however, that ease of transfer also creates risks. To mitigate this risk, consider using a "cold storage" system which uses a USB drive to securely store the passcode and safely transfer it to your Executor or a beneficiary.
READ MOREExpertise.com has named Thrift McLemore to their list of Atlanta’s best estate planning attorneys with an overall A+, based on rankings in categories including reputation, credibility, experience, availability, and professionalism.
READ MOREAirline miles may expire or be deactivated upon death, but some airlines allow points to be transferred if proof of death is provided. The same may apply to credit card rewards and other digital assets. To transfer miles, points, or rewards, contact your airline, credit card company, or rewards program for details on their policies and procedures.
READ MOREAs COVID-19 protections end, Georgia renters may face eviction for nonpayment starting January 1, 2021. The eviction process begins with a demand from the landlord, followed by a summons and the potential for a trial. If the landlord wins at trial, an eviction order is issued; however, a renter may avoid eviction by paying back rent and costs within seven days.
READ MOREZappos CEO passed away without an estate plan, leaving his $840 million fortune to be distributed using Nevada intestate succession laws. In Georgia, without a plan, his parents would inherit. Having an estate plan, however, can provide tax avoidance, simply (or even avoid) probate, and ensure assets go to chosen heirs.
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