Author name: Marketing

In Georgia, there are many ways to transfer your assets at your death to your intended beneficiaries. Wills and Trusts are probably the best-known tools for estate planning, but there are other ways to transfer property directly to beneficiaries. For instance, owning an account or a parcel of real estate jointly, with one or more other owners, as joint tenants with rights of survivorship (also called simply, “joint tenants”) allows the property interest of a deceased joint tenant to transfer automatically to the surviving joint tenant or tenants.

Connelly represents a significant shift away from previous law. This shift means that existing buy-sell agreements should be revisited and, possibly, restructured as soon as possible to reduce the risk of unforeseen negative consequences to both closely held businesses and their owners.