+ Call Us: 404-256-0020
Expert Advice for a Georgia Resident's
Assets, Wills, Businesses, and Estates

Avoid the Asset Hassle, Courtesy of Uncle Pennybags

Piggy bankBeware the hassle assets. They are called that because if you inherit some, you will jump hoops, go down chutes and climb up ladders to get these assets into your name.

The corollary: if you own hassle assets now, do your spouse and estate recipients an enormous favor, and deal with these assets now, while you can. Prevent the legal zoo. We’ll explain how below.

Let’s contemplate your rich Uncle Pennybags, who has received huge royalties over the years as his picture has appeared since 1936 on millions of Monopoly boards, Community Chest and Chance Cards. (You thought it was Warren Buffett?)

Uncle Richie (as you called him) was a sophisticated investor; no Baltic Avenue for him in the real world.  Instead, he bought into companies which owned mineral rights in Georgia and oil well interests in Texas. He also bought a couple of shares in a company producing a Broadway musical. And yes, he had a part-interest in an assisted living facility on Marvin Gardens.

So when Pennybags died, his estate owned 1.6% of a Georgia partnership trying to sift kaolin out of dirt, 0.875% of a Texas venture owning a semi-dry oil well, and 3% royalties from whenever their musical was performed, whether in local high schools or foreign countries. [Read more…]

Even You (Yes, You!) Can Create an Endowment

Money with bowYes you can.

We’ve given out the candy on All Hallow’s Eve. We’ve harvested and given thanks. Soon we’ll share good tidings of comfort and joy.

So this is a perfect time to consider a painless way to do something charitable. Actually, two painless ways.

One way is not going to cost you a penny more than what you are spending already.

The other way will cost you next to nothing.

Neither way will change your cash flow during your lifetime. And when you die, you’ll trigger a spectacular donation to the charity of your choice for any purpose you specify. Voilà: your personal endowment.

Here’s how this happens. [Read more…]

Deal with Inherited Real Estate Before Another Person Dies

houseIgnoring property to be inherited is a problem which never goes away. It inevitably gets worse. As a model, consider what happened in the family of T.L. Piggy, Sr.

In 1950, T.L. (short for “This Little”) went to market in East Cobb County. He liked some farm acreage and bought it for $30,000.     [Read more…]

Your Documents Are Only Good if People Can Find Them. Just ask Jack.

This is the House that Jack left.

This is the basement, dingy and dark
In the house that Jack left.

This is the chest, so rarely opened,
Covered by carpets and dust and webs
In that basement, dingy and dark
In the house that Jack left.   [Read more…]

Questions are welcome.
*indicates required field.
Send