When preparing an estate plan, some Georgians may overlook their digital assets. Many people don't even think of themselves as having digital assets of any worth. According to a study by McAfee, however, the average American has $55,000 in digital assets. This figure assesses the potential worth for people who value the assets, not the resale amount.
Digital assets and estate planning
Who qualifies for a VA Pension?
If you, or a loved one has served in the military, you may be qualified for a veteran’s pension. The VA Pension program can help veterans and their spouses pay for assisted living home care, nursing homes and independent home care. Veteran pension programs are a way to help veterans and their loved ones enjoy the golden years of their lives.
When is it appropriate to update an estate plan?
Creating an estate plan can cause feelings of relief and completion. Many people create their estate plan, check that item off the to-do list and then promptly forget about it. However, an estate plan is not something that should be forgotten about.
More home buyers look toward exurban communities
When people in Georgia consider buying a home, location can be a major factor in deciding where to live. Many people are once again buying homes in the exurbs, especially newly built houses in communities significantly outside major cities. As a result, they may face extended commutes of an hour or more in order to get to work. At the same time, rising real estate prices inside the nation's downtown areas have pushed many people to seek more space at a lower price by traveling further from the borders of a major city. In addition, homes in the exurbs often include large yards, a boon for people with kids or pets.
Mistakes to avoid with beneficiary designations
Some Georgia residents may think that creating a will is enough to ensure that assets are passed down to the right loved ones. Unfortunately, this is not always the case. Some assets, such as retirement accounts and life insurance, pass by beneficiary designation. There are a number of common errors that can be made with these assets.
Selling a home may avoid a foreclosure
A lender in Georgia has the right to start foreclosure proceedings as soon as a homeowner fails to make a single mortgage payment. However, this is doesn't mean that the home is going to be taken back. A homeowner has the option of selling the property or asking the lender to agree to a short sale. If an individual owes less on the mortgage than the home is worth, it can generally be sold like any other property.
Special needs kids and estate planning
Georgia parents of children with special needs often have significant concerns about what will happen to their kids after they die. Due to this concern, many parents take special steps when planning their estates to ensure that their children are adequately provided for.
