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Smith Welch Webb & White Blog

Friday, February 6, 2015

Resolve to get Organized in 2015: Estate Planning and Real Estate

Many of us resolve to get organized this time of year. And if you haven't already, it's a great time to put estate planning at the top of your list.
A first step in the right direction is to make an appointment with a trusted attorney who has experience in this area of law. The next step is to prepare for the meeting, so you can familiarize yourself with your options and get the most out of your time with your attorney.
Good preparation includes making a complete list of your assets and liabilities. Your home is usually your largest investment and deserves careful consideration when preparing or updating your will and trust.
Real Estate and Estate Planning:
There are a number of ways to hold title to real estate, and this small - yet very important - detail can greatly influence if and how your heirs will inherit your real estate. Here are a few ways your may hold title to real estate in Georgia, and each will affect the implementation of your will and trust in a different way:

  • Your Name on the Title (and only your name) 
  • Joint Tenants with Right of Survivorship
  • Concurrent Estates
  • Tenants-In-Common
  • Revocable Living Trust

Your attorney can explain the advantages and disadvantages of each scenario and make a recommendation for your specific situation, but you can have a head start by knowing the general options available before your meeting.
For more information on real estate law, email Scott Mayfield at smayfield@smithwelchlaw.com or call him at 770-358-3630. Smith, Welch, Webb and White is recognized as a premier law firm throughout the state of Georgia. We have an uncompromising commitment to serving our clients and our community. Our team of experts routinely handles a wide range of legal matters, and will provide outstanding service for you, your family or your business.

 

Any representations regarding the law in this Blog is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and the Blog publisher. The Blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.


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