Executors in Georgia face personal risk if they pay heirs before settling the top debts of the estate. An estate is insolvent when the deceased person leaves more debt than assets. When funds run short, state law requires the executor to pay creditors in a strict...
When a Georgia resident dies without a will, state law determines who inherits the assets. Administrators often encounter obstacles when known relatives cannot be located, or family trees remain unclear. Resolving these missing heir roadblocks requires a formal,...
Grantors establishing trusts are often cautious when selecting a trustee. They choose someone healthy, competent and available. Most of the time, trustees are fastidious about asset management and adherence to their obligations under the law. Beneficiaries typically...
Being named an executor in a will for the first time can feel overwhelming. You have a duty to manage the estate carefully and follow Georgia law, so even small mistakes can create conflicts with beneficiaries and lead to court involvement. Knowing common problems can...
Estate administration can be a uniquely complex and emotional endeavor when the deceased was a parent of a minor child. The probate process must address not only the distribution of assets but also the immediate and long-term needs of minor children who are unable to...
During estate administration, a personal representative, also known as an executor, oversees much of the process. They are responsible for managing estate resources and making distributions to beneficiaries or heirs. They may also need to liquidate assets to repay...
Most people understand that estate administration takes time and effort to complete. Those who agree to act as personal representatives or executors often want to uphold the wishes of the deceased individual or take pressure off their closest surviving family members....
Administering an estate involves several responsibilities, one of which is settling the deceased's debts. The individual tasked with administering the estate, called the executor or personal representative, must complete this complex task wisely to avoid legal...
Financial obligations can quickly become a complicating factor during estate administration. Personal representatives overseeing estate administration often need to be careful about how they manage resources, as they could be personally liable for debts and financial...
A fiduciary duty is one of the highest legal responsibilities, requiring an individual to act in the best interests of another party. In the context of an estate, fiduciary duty typically applies to an executor, trustee or administrator who is responsible for managing...