Articles

Estate planning and elder law are not just services offered by qualified professionals. They are also the beginning of important conversations among family members and between elder parents and their children or grandchildren. Asset Protection & Elder Law of Georgia is committed to facilitating these conversations through our services and through free educational resources about elder rights, estate planning and medical planning.

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Trust vs. LLC: Asset Protection For a Business Owner.

Trust vs. LLC: Asset Protection For a Business Owner

A limited liability company (LLC) and a trust both can provide asset protection for a business owner. But LLCs and trusts are very different legal structures that serve distinct goals and are suitable for different circumstances. Understanding the di… Read More
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Categories: Estate Planning
Is a Residence in an Irrevocable Trust Eligible for the Capital Gains Exclusion.

Is a Residence in an Irrevocable Trust Eligible for the Capital Gains Exclusion?

When a trust in an estate plan includes the principal residence of the individual who creates the plan, a common question that arises is whether the capital gains exclusion for individuals and married couples under Section 121 of the Internal Revenue… Read More
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Categories: Estate Planning
Estate Planning Documents for a College-Bound Child.

Estate Planning Documents for a College-Bound Child

A lot of planning goes into sending your child off to college. One critical aspect that you should not forget is establishing necessary legal protections for your young adult child. In Georgia and most other states, a child who reaches the age of 18… Read More
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Categories: Estate Planning
What Is the Year’s Support Provision in Georgia Inheritance Law?

What Is the Year’s Support Provision in Georgia Inheritance Law?

Georgia has a unique statutory provision that gives a surviving spouse and surviving minor children the right to claim an amount equal to a year’s support and maintenance from the estate of a decedent. The intent of the law is to protect family mem… Read More
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Categories: Estate Planning
Estate Planning for Young Families in Georgia.

Estate Planning for Young Families in Georgia

Young families have so many responsibilities, plans, and goals. Creating an estate plan is usually not an endeavor that has a high priority, but it should. A complete estate plan protects all the family members in the event of unforeseen events and p… Read More
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Categories: Estate Planning
How to Keep Money in the Family With an Inheritance Trust.

How to Keep Money in the Family With an Inheritance Trust

A family financial legacy provides security for children, grandchildren, and even future generations beyond. Protecting that legacy and keeping it in the family is one of the most important estate planning goals for many individuals. An inheritance t… Read More
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Categories: Estate Planning
What Is a Testamentary Trust in Georgia?

What Is a Testamentary Trust in Georgia?

Trusts are a strategy widely used by estate planning attorneys to accomplish specific estate planning goals. A testamentary trust is a type of trust that may be used in an estate plan. In this article, our estate planning lawyers at Asset Protection… Read More
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Categories: Estate Planning
Does a Trust Need an EIN for Tax Purposes?

Does a Trust Need an EIN for Tax Purposes?

Individuals who create a trust as part of an estate plan naturally wonder if the trust needs an EIN for tax identification purposes. The answer depends on the type and nature of the trust. There are general rules that apply, but when you establish a… Read More
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Categories: Tax Planning
How to Renounce or Disclaim an Inheritance in Georgia.

How to Renounce or Disclaim an Inheritance in Georgia

Georgia law provides an option for renunciation or disclaimer of an inheritance by the intended recipient. The applicable statute establishes a required process as well as specific legal rules that apply when an inheritance is declined. If you consid… Read More
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Categories: Estate Planning
What Is a Medicaid Asset Protection Trust?

What Is a Medicaid Asset Protection Trust?

Medicaid is a government benefits program that may help an older adult pay for nursing home care, if specific income and asset eligibility requirements are met. Medicaid planning with a qualified professional, such as our attorneys at Asset Protectio… Read More
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Categories: Elder Law