Assets and Ownerships in Georgia

Accurately measuring your assets and ownerships in Georgia is a key part of the Estate Planning process. Our team at Nelson Elder Care Law can help you achieve this goal.

Our seasoned attorneys can help you catalogue your property and determine whether you have sole or joint ownership. We can also help you put together an effective Estate Plan that both protects your assets and makes it easier to distribute them to your Beneficiaries upon your passing.

Determining the Ownership Rights in Georgia

Being able to draft Wills with specificity is essential to all Estate Planning. A Will that clearly identifies assets and speaks as to which parties will inherit property is less likely to face legal challenges during Probate. Even so, this goal is contingent upon your testator’s ability to locate assets as well as your ownership of that property.

Most property you have sole ownership over. A bank account that is solely in your name or physical property in your possession is likely only yours. However, it is possible that property may be owned in tandem with another or be subject to a lien.

Our Georgia attorneys can help you determine the true ownership of all property and assets. This includes searching for any registered liens on assets and identifying any parties that may share ownership of bank account, real estate, or business holding.

Why are Accurate Asset and Ownership Identification Important?

The laws in Georgia allow for a great deal of latitude when drafting an Estate Plan. With few exceptions, you are able to pass on property to any party you wish. However, there are a few rules that control how you must draft your Will and Probate processes. Having an accurate understanding of your assets and ownership when making an Estate Plan helps you remain in compliance with these laws.

One key concept lies in the initiation of Probate. According to the Official Code of Georgia Annotated § 53-5-2, a nominated executor in a Will has the first chance to petition a court to start the Probate process. A vital part of this petition involves submitting a complete inventory of the decedent’s assets. Having a Will that clearly details each of these assets assists an executor with this essential task.

It is also important that a Will be thorough concerning your assets to avoid the application of the state’s Intestacy rules. These apply when a Will is incomplete in the sense that it does not speak as to the entirety of a person’s property. If a court uses the Intestacy rules to distribute property, this could result in a forced sale of assets or conflict among family members. As a result, comprehensively identifying your assets and ownerships in Georgia helps to simplify and shorten the Probate process.

Reach Out to Our Georgia Attorneys for Help with Identifying Assets and Ownerships

Every Estate Plan aims for a quick and smooth transfer of assets after your passing. However, this is impossible if your Estate Plan does not name each asset and make arrangements for their transfer to your heirs. Being able to determine your assets and who owns them is an essential first step in this process.

Nelson Elder Care Law is prepared to take the lead in locating assets, determining their true owners, and drafting Estate Planning documents that speak as to the full extent of your holdings. Reach out now to learn more about assets and ownerships in Georgia.

Hear From Our Clients

“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

- Bonnie

Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce