Thank you for this video. The information is very helpful. Couple of questions: If a spouse passes and there is a Revocable Living Trust does the surviving spouse file any paperwork with the county court? if required then is there a time limit to file? What if there is only a Will then what are the steps required for filing? I appreciate your videos.
Thank you for the compliment on my videos! Disclaimer I am not an attorney so please consult an attorney if you have questions about probate and inheritance law in the state of Georgia. Now with my disclaimer here is what I understand about trusts. :) You can have both a will and a trust at the same time. The wonderful thing about a trust is that they are private so you do not have to file anything with the courts. It is the trustee's job to execute what the will and the trust directs them to do. Another thing that is nice about a trust is that a trust can be sued but this does not stop the trustee from executing their duties. If you only have a will and no trust it must be filed in the probate courts to settle the estate. If a will is contested in court it brings the entire probate process to a grinding halt until the suit is solved in the court system. What other questions do you have? ~ Tonya
@@TheByrdGroup Thank you Tonya. Just to make sure I understand-you stated ". Another thing that is nice about a trust is that a trust can be sued but....." Have you personally heard of many trusts being sued? Just curious. Again thank you for your response and I understand the disclaimer.
@@Patricia-v7z Yes, I know of someone who was a trustee, and a family member sued the trust. There was a minor involved, and the family member wanted to get ahold of the minor's money. It all worked out in the end. The trustee never lost control of the trust, and the trustee won the lawsuit. When loved ones die, and there is property or money involved, I see plenty of people get along just fine, and I see plenty of people who don't. They delay the process and cost the estate money. - Tonya
@@Patricia-v7z You are welcome. If you need help with any real estate, then reach out. If you are not in the Atlanta area, then I can get an agent in your area who understands these things. Not all agents understand the details in settling an estate.
Thank you for this video. The information is very helpful. Couple of questions: If a spouse passes and there is a Revocable Living Trust does the surviving spouse file any paperwork with the county court? if required then is there a time limit to file?
What if there is only a Will then what are the steps required for filing?
I appreciate your videos.
Thank you for the compliment on my videos! Disclaimer I am not an attorney so please consult an attorney if you have questions about probate and inheritance law in the state of Georgia. Now with my disclaimer here is what I understand about trusts. :)
You can have both a will and a trust at the same time. The wonderful thing about a trust is that they are private so you do not have to file anything with the courts. It is the trustee's job to execute what the will and the trust directs them to do.
Another thing that is nice about a trust is that a trust can be sued but this does not stop the trustee from executing their duties. If you only have a will and no trust it must be filed in the probate courts to settle the estate. If a will is contested in court it brings the entire probate process to a grinding halt until the suit is solved in the court system.
What other questions do you have? ~ Tonya
@@TheByrdGroup Thank you Tonya. Just to make sure I understand-you stated ". Another thing that is nice about a trust is that a trust can be sued but....." Have you personally heard of many trusts being sued? Just curious. Again thank you for your response and I understand the disclaimer.
@@Patricia-v7z Yes, I know of someone who was a trustee, and a family member sued the trust. There was a minor involved, and the family member wanted to get ahold of the minor's money. It all worked out in the end. The trustee never lost control of the trust, and the trustee won the lawsuit.
When loved ones die, and there is property or money involved, I see plenty of people get along just fine, and I see plenty of people who don't. They delay the process and cost the estate money. - Tonya
@@TheByrdGroup Thank you for the responses. I appreciate the information.
@@Patricia-v7z You are welcome. If you need help with any real estate, then reach out. If you are not in the Atlanta area, then I can get an agent in your area who understands these things. Not all agents understand the details in settling an estate.