12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Limitations of a Last Will and Testament in Fargo, GA

Limitations of a Last Will and Testament in Fargo, GA


A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove...but the world may be different because I was important in the life of a child.
 
- Forest E. Witcraft


Last Wills are a wonderful way of addressing the needs of loved ones in estate planning but not everything can be carried out by your Last Will.

What a will won't do includes the following:

Bequeath Certain Kinds of Assets or Property. You cannot use your will to leave:

• Property that is in the Living Trust

• Life insurance policy proceeds that has a beneficiary in it

• Money in the retirement plan that has beneficiary indicated in its forms.

• Stocks or bonds held in beneficiary and has transfer-on-death or TOD form. If you want to change the beneficiary, contact the brokerage company

• Money in a payable-on-death bank account.

• Joint tenancy. Leaving a property that is not entirely yours but is co-owned with someone else automatically transfers the entire property to the surviving co-owner. Your share that was indicated in your will can only go to it beneficiary if the all owners of the property dies simultaneously.

Direct Funeral Arrangements

It would be wise to make separate documents regarding your wishes and inform your executor its location when needed. It sometimes takes days or weeks for a will to surface after death and memorial services or wishes indicated may not be executed.

Reduce Estate Tax

Having a will won't help evade taxes. If you are expecting your estate to owe federal taxes, start taking steps to decrease your tax liability. In terms of tax bills, there are many trusts that can reduce or for postpone it.

Avoid Probate

Establishing the validity of a will can take months or years of being tied up in a probate court before final contribution of the property commences.

Apply Certain Conditions on Gifts

A gift that is awarded via a will should not contain condition attached like a contingent on marriage, divorce or change of religion of the receiver. You can only include lesser influences like leaving money for a certain person when he goes to college. Making conditional gifts can sometimes open a can of worms because questions will arise as to who will enforce the wills' condition and for how long.

Leave Money for Illegal Purpose

This is a rare situation, but you cannot allocate money for use on something illegal.

Arrange to Care for a Special Need Beneficiary

Long term care for someone with special needs will be better off in a trust that is tailored to the persons' needs. It will not jeopardize government benefits as well as it can provide extra income for the person and its family that can be use in his care.

Leave Money to Pets

Pets should be left to new owners who will take care of them. Leave the money to them to help with your pets' related expenses. Pets cannot own property so leaving property directly to them is not a good idea. Trust are allow in some other states but won't be necessary if you have confidence in the person whom you left your pet(s) with after you pass away.
 
Personalize & Print a Free GA Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Fargo, GA
Heard Law Offices
3695 Cascade Rd SW # F
Atlanta, GA 30331
(404) 344-9255
Employment Discrimination Attorneys, Attorneys
Liberty Law
2288 Fairburn Rd SW
Atlanta, GA 30331
(404) 344-8481
Criminal Law Attorneys
Long, Clarence V
4225 Campbellton Rd SW
Atlanta, GA 30331
(404) 344-7887
Civil Litigation & Trial Law Attorneys, Attorneys
McDonald, Cody & Cook LLC
383 441 Business Hwy
Cornelia, GA 30531
(706) 778-7178
Attorneys Referral & Information Service, Attorneys, General Practice Attorneys
Matthew Cook
383 441 Business Hwy U
Cornelia, GA 30531
(706) 778-7178
Attorneys Referral & Information Service, General Practice Attorneys, Attorneys
Green Law Firm
1925 Waycrest Dr SW
Atlanta, GA 30331
(404) 344-6789
Bankruptcy Law Attorneys, Attorneys, General Practice Attorneys
Court Support Document Preparation
3695F Cascade Rd SW # 2155
Atlanta, GA 30331
(770) 885-6210
Family Law Attorneys, Attorneys
The Campbell Law Practice
3695 Cascade Rd SW
Atlanta, GA 30331
(404) 981-5257
Environment & Natural Resources Law Attorneys, Attorneys
Welch, Eric
1151 Clarke Dr NE
Townsend, GA 31331
(912) 832-3900
Accident & Property Damage Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  L
Total Attorneys - Divorce
PO Box 273845
Decatur, GA 30031
(404) 445-3018
Divorce Attorneys,  Attorneys,  Family Law Attorneys,  Legal Service Plans
Reese Terry & Dorothy
133 Burney Rd
Gordon, GA 31031
(478) 628-2913
General Practice Attorneys, Attorneys
Faucette Law Firm
3915 Cascade Rd SW # T138
Atlanta, GA 30331
(404) 699-2800
Criminal Law Attorneys, Attorneys
Nelson Donald O
15618 US Highway 17
Townsend, GA 31331
(912) 832-2777
General Practice Attorneys, Attorneys
James B Smith
15618 US Highway 17
Townsend, GA 31331
(912) 832-2395
Attorneys Referral & Information Service, Attorneys
Green Law Firm
3915 Cascade Rd SW # T138
Atlanta, GA 30331
(404) 343-2183
Bankruptcy Law Attorneys, Attorneys, General Practice Attorneys
Campbell Steven
1104 S Main St
Cornelia, GA 30531
(706) 778-2134
Social Security & Disability Law Attorneys,  Attorneys,  Family Law Attorneys,  General Practice Att
Campbell & Campbell
141 Clarkesville St
Cornelia, GA 30531
(706) 778-2134
General Practice Attorneys, Attorneys, Legal Service Plans
Johnson Leroy R
4190 Manor Hills Ln SW
Atlanta, GA 30331
(404) 691-1069
Attorneys, Family Law Attorneys, Civil Litigation & Trial Law Attorneys, General Practice Attorneys,
Total Attorneys - Personal Injury
PO Box 274200
Decatur, GA 30031
(404) 445-0935
Attorneys, Legal Service Plans
W. Ross McConnell
179 N Main St Unit B
Cornelia, GA 30531
(706) 778-0344
Legal Service Plans, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US