Handling a Vacation Home In Wills and Trusts Administration in Cobb County

Handling a Vacation Home In Wills and Trusts Administration in Cobb County

Wills and trusts administration lawyers in Cobb County, Georgia, often have the opportunity to work with local families who—in addition to planning for their regular home—also have a vacation home to take into consideration during the planning process. While you might think that real estate prices or the vacation home’s location would be the driving forces behind putting it through the wills and trusts administration process, there are actually other, highly compelling reasons.

Vacation homes don’t just come with the baggage you pack to spend a family holiday on the lake, in the woods, or on the coast; they also come with a lot of emotional history. By working with a wills and trusts administration lawyer, those leaving the vacation home behind can take this history into consideration. They may be best served to really spend some time taking their heirs’ perspectives into consideration when determining how the home should be handled.

For some family members, the vacation home may be an important part of family history, full of memories and personal rites of passage. These folks might prefer that the property be safeguarded in some sort of trust or passed as-is to heirs in a will. On the other hand, there may be family members who are less emotionally attached to the home and see it as their parents’ investment in a stable financial future. These family members would be more inclined to sell the property and share the proceeds.

There are plenty of other aspects of the situation that the original owners would want to explore with a wills and trusts administration lawyer in Marietta GA. For example, would any potential heirs be financially able to maintain the property, pay taxes on it, etc? If not, then it may be time to consider either selling the vacation home or finding a means to fund the trust so it can meet these obligations.

Other thoughts to keep in mind:

  • Do heirs live close enough to the vacation home to actually use it?
  • Could you leave the vacation home to those who would most appreciate it and balance that with a different inheritance for others?
  • Is there someone you could name as a trustee who could oversee the property on behalf of the trust?
  • Would it be possible for some family members to buy others out of their portion of the property?
  • Could the property be rented out when not in use by family members as a way to support its own upkeep?

Because there are so many variables that can come into play—money, grief, family tension, tradition, etc., etc., dealing with a vacation property during estate planning is something that is probably best done under the guidance of an experienced wills and trusts administration lawyer in Marietta.

For additional questions about estate planning or wills and trust administration in Georgia or to speak with a will or trust lawyer, contact our office at 770-421-0808 for assistance.

Divorce and Estate Planning in Cobb County, Georgia

Divorce and Estate Planning in Cobb County, Georgia


Marietta and Cobb County, Georgia, estate planning attorney and divorce lawyer Steve Worrall reminds us that when a divorce—also called a dissolution of marriage—is imminent, meeting with an estate planning attorney in Cobb County, GA, is probably not at the top of anyone’s list of things to do.  But, it very well should be.  Keep in mind that divorces can take a fairly long time (months or even years) to complete.  It makes sense to consider what would become of your assets, or even your physical self, if you should become incapacitated or die before the divorce has been finalized.

If you do not take steps to change your estate plan in light of an impending divorce, then your soon-to-be ex may still be entitled to everything that was agreed upon when it was originally drawn up (or as the courts deem appropriate if no estate plan is in place).  This means that if he or she has your medical power of attorney, all of your medical decisions will be in the hands of someone who may not have your best interests in mind.  Likewise, if you are incapacitated and your spouse has power over your finances, it’s possible that you will not be happy with the outcome.

Another concern comes up if you and your spouse are co-trustees on various trusts or other accounts.  Again, if you become incapacitated, the spouse could access and use all kinds of property that you would not want him or her to have access to.  This becomes a real worry when you realize that this person could actually buy or sell property or even take out loans without your consent.

And, if you have inherited or stand to inherit from your parents, another potential problem arises.  Should you pass away before the divorce is final, your inheritance may legally pass directly to the person you were in the process of trying to get out of your life.  Even if you have assets that would be passed directly to your minor children, without a proper estate plan in place, the courts will likely put your ex in charge of any money or other property that you leave them.

In order to protect your interests during a divorce, it makes good sense to talk with your estate planning attorney.  A qualified will attorney in Cobb County can offer advice on where you may be vulnerable.  You may need to work with him or her quickly in order to revoke the appropriate documents, and keep in mind that you might need to contact various institutions personally to ensure they are aware of the revocation.

An estate planning attorney who is familiar with the laws specific to Georgia is the best option for ensuring that you are protecting yourself both during and after a divorce in Georgia.