When there is no will, an administrator, administratrix or personal representative is appointed by the court. Any close relative may be appointed. For an individual or a bank to be appointed the administrator or personal representative, all other heirs must renounce their right. A surety bond must be furnished by paying a premium to a [...]
When no will exists, the statutes of Georgia provide for the distribution of property to heirs, that is, by intestate succession. If you die without leaving a Will and are a resident of Georgia, the State law provides the manner for distributing your property. Your net estate remaining after deduction of debts, taxes, family exemptions, [...]
The safe way to change a will is to have a new one drawn; however, a codicil may be effective. A codicil is a separate document used to make minor changes. It must be signed with the same formality as the will itself. It is not necessary to have the same witnesses on the codicil [...]
Periodically review your will to keep it up to date. Keeping it current is just as important as making one in the first place. Changes in your life such as marriage, the birth of child, death, crippling accident, change of witnesses, purchase or sale of property, a change in your financial status — or a [...]
Keep your will in a safe place, but let someone know where it can be found. If kept in a safe deposit box, it usually can be removed by the executor in the presence of an employee of the bank. This may be done before the inventory of the contents is made by the District [...]
A well-drawn will contains a common disaster clause to establish contingent beneficiaries if both husband and wife die within a stated period of time. Without such a clause, if both husband and wife die with no way to determine who died first, their individual property is disposed of as if they had died a widow [...]
A will must be written, signed by the testator (maker) and witnesses. The original copy is the legal document and must be signed. You may wish to have unsigned carbon copies available for your convenience. In north Georgia a will, to be legal, must have at least two witnesses. The testator and the witnesses are [...]
A document that will stand up in court, if necessary, and be tailor-made to meet the needs of your family, must first be thought out carefully by you, and then skillfully prepared by a lawyer who specializes in will drafting and estate planning. He can guide you to the best decisions — but only after [...]
Making a will is an important step in your financial management program. To save your heirs time and money, plan now for the orderly transfer of your property. In this way, the cost of a bond and possible disagreement among those who are to receive your property may be avoided. You decide to whom, when, [...]
Transfer of an estate to an individual’s heirs after his death may be an orderly or thoroughly disorganized process. It depends on a four-letter word — WILL. Every person, eighteen (18) years of age or over should make one. This important document is a legal declaration of the way an individual wants his property distributed. [...]