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Will Trusts & Probate
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Buying, selling, or refinancing real estate requires careful attention to detail and experienced legal guidance. At Lisa Shippel Law, we provide comprehensive real estate services to ensure smooth and successful transactions. Whether you’re closing on a home, handling a commercial property deal, or navigating complex title issues, our team is here to protect your interests every step of the way.
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Last will and testament
If you have assets or loved ones, a Last Will and Testament is essential. Even if you have a Revocable Trust, a Will ensures that any assets not properly transferred into the trust are distributed according to your wishes. This legally binding document outlines how your assets should be allocated after your passing, with an executor responsible for carrying out your instructions. You may designate assets for specific individuals or groups and specify when and how distributions should be made.
Revocable and Irrevocable Trusts
Trusts are powerful estate planning tools that help protect assets, ensure a smooth transfer of wealth by avoidance of Probate and in some cases minimize taxes. Trusts generally fall into two main categories: Revocable Trusts and Irrevocable Trusts—each serving different purposes depending on your financial goals and estate planning needs.
Probate and Administration of Estates
In Georgia, a deceased person’s assets are distributed through Probate or Estate Administration. Probate applies when there is a valid Will. The named executor files a petition with the probate court, and once approved, they manage the estate and distribute assets as instructed.
Estate Administration occurs when there is no Will. The court appoints an administrator, who follows Georgia’s intestacy laws to distribute assets. This process often involves more court oversight, costs, and complexities, especially if minor children are involved.
Healthcare Directives
This document allows an individual to designate a trusted person to make medical decisions on their behalf if they become unable to make those decisions themselves. It also provides instructions to healthcare providers regarding the individual’s preferences for medical treatment, in the event that they are unable to communicate their wishes.
Powers of Attorney
A Power of Attorney is a document that allows one person to give someone else the ability to perform tasks for a person, in their place. They can be limited or general. They can be financial or for a specific purpose. Some powers are granted at the moment the document is signed, and some are reserved until the time when the grantor becomes incapacitated.
Deed Transfers
Real Property may be transferred in many ways including Warranty Deeds, Executor’s Deed, Trustee’s Deed or by Quitclaim Deed. Depending upon where you are in your Estate Planning or Probate process it may be necessary to transfer Real Estate by Deed. The client’s need coupled with what is required by the Probate or Administration of an Estate will determine what Deed is needed.
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