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September 2016 Archives

Jointly-owned assets may escape estate administration & probate

In Georgia and other jurisdictions, when the first spouse dies the surviving spouse will become the owner of each asset, real or personal, that has been owned jointly with the deceased spouse. This is generally called a tenancy by the entirety. It means that the totality of the asset is owned simultaneously by the husband and the wife, and when one of them dies, it does not disturb title but full fee simple title resides in the survivor by what is called the "operation of law." These assets are not subject to estate administration & probate because they are owned by the survivor and will be accounted for on his or her death.

Planning mistakes lead to estate administration & probate

A recent survey revealed that over 30 percent of Americans do not believe they need a will or simply have not bothered to make one.  According to financial advocates, not having a will is the first of several mistakes people make regarding estate planning. Not having a plan at all may mean a person's lifetime of work will not provide for his or her family the way it was intended. In Georgia and across the country, saving one's family estate administration & probate hassles is only one positive result of having a will.

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The Bowden Spratt Law Firm, P.C.
191 Peachtree Street NE, Suite 4400
Atlanta, GA 30303
Toll Free: 877-920-1051
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