A Last Will and Testament is a written document, executed with the requisite formalities, specifying the what, when, how and who is to receive your property. In a Will you can leave your property to your beneficiaries outright or leave it to a trustee to manage and protect the property for the benefit of your beneficiaries. You name your personal representative (Executor), to handle your estate after your death and distribute your assets according to your wishes. You may also name a guardian for your minor children to handle their affairs until they reach the age of majority.

The complexity of your Will is determined by your estate size and makeup. Under current Federal Estate Tax Law, each individual can exempt from tax the first $2,000,000.00 ($3.5 Million after January 1, 2009). Estates with less than the federal exemption maybe rather short and simple. Those estates larger than the Federal exemption may contain sophisticated estate planning provisions to avoid or minimize estate tax and protect your beneficiaries.

Failure to make a Will means you have chosen to use the distribution scheme that the state of Georgia has set up for you. This distribution scheme, while benefiting family members generally, is rigid and may not follow your intention for your beneficiaries. If you have property and want to control who receives it and when, you need a Will.

Thomas E. Raines, PC represents clients throughout the Atlanta metro area: Fulton County, Cobb County, Clayton County, Dekalb County, Forsyth County, and Gwinnett County, including the cities of Norcross, Alpharetta, Roswell, Sandy Springs, Johns Creek, Marietta, Decatur, Lilburn, Lawrenceville, and Cumming. Contact Thomas E. Raines, PC today.