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Expert Advice for a Georgia Resident's
Assets, Wills, Businesses, and Estates

ABLE Is Ready; Are you Willing?

Closeup of hands on clock face

Know a “disabled beneficiary?” A new Federal program has been adopted in Georgia for their benefit. It’s like a 529 Plan for disabled individuals.
And we call this to your attention now because contributions to such a plan are limited to $14,000 a year . . . and the end of this year is fast approaching.

The new program –ABLE stands for “Achieving a Better Life Experience” – is designed to help individuals and families save money that can be used to support individuals with disabilities. [Read more…]

Corporate Titles Carry Risks.

Businessman contestCorporate titles of your key people can really hurt you or help you. Two real cases show why.

The first case: Brady and two friends were officers and employees of a company which flew small planes to ferry people from little city airports to a major airport.

One day, they learned that an opportunity was coming up: a chance to do the same thing to a new city. They figured this was a great chance to do their own thing. So they quit the company they’d been working for, formed a new company for themselves, and bought the new route.

The only problem: the new route was the kind of business their old employer did, and would have done.

The second case: Bellomo was hired to be “Director of Wireless Sales” for a company which did wireless networks. Two years later, while still employed by that company, he and a partner secretly formed a new company to do the same thing. [Read more…]

George Speaks at Big Canoe

George will be speaking at Squires and Stags on Friday, September 9, 2016 at the Clubhouse at Lake Sconti (in Big Canoe). Please see the article below for details.

http://www.bigcanoenews.com/news/news-col1/big-canoe/7932-attorney-george-fox-to-speak-at-squires-stags-sept-9-meeting?highlight=WyJnZW9yZ2UiXQ

Marriage, Assets, and Chocolate Milk.

Hear ye, all marrieds, to-be-marrieds, those facing first marriages, subsequent marriages, adult children with remarried parents, et al.

Separating “marital assets” into “separate assets” can be like trying to undo chocolate milk. Pour chocolate syrup into milk to get chocolate milk; that’s easy. But afterward, try to separate them back to syrup and milk? Good luck.

The happy couple should never, ever change the names on assets (investments, real estate, etc.) naively, casually, or offhandedly. Thoughtfully, yes; deliberately, yes.  But casually, no.

Here’s the deal.  Sometimes marriages go sour.  When that happens, the law knows there’s (a) separate property and (b) marital property. (Obviously, we’re not talking about Wii consoles and Bundt pans.)

The difference: separate property stays with its owner. Separate property can be controlled when a marriage ends at death. Separate property can stay separate in a divorce. [Read more…]

Questions are welcome.
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