December 2018 Archives

Why trusts are important for many

In 2001, Georgia residents and others could only exempt $675,000 from federal estate taxes. Today, that amount has risen to $11.8 million. However, it doesn't mean that it isn't a good idea to establish a trust as they can provide benefits beyond a lower estate tax bill. For instance, putting assets in a trust means that they will be protected from creditors, which means that the asset stays in the family.

Significant estate planning mistakes to avoid

Georgia residents may not enjoy the process of estate planning, but it is necessary to protect one's assets and ensure they are passed down correctly. Over a lifetime, an individual may accrue a variety of assets such as brokerage, bank and social media accounts. If those accounts are protected by passwords, it is important that those who are left behind are able to access them. Ideally, all relevant documents, passwords and other important information will be kept in one place.

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Herman Law Firm, LLC
760 Old Roswell Rd., Suite 119
Roswell, GA 30076

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