by Tawnya Gilreath

3 Reasons You Want to Avoid Probate

The Law Office of Tawnya Gilreath

When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does not avoid probate. Instead, a will simply lets you inform the probate court of your wishes – your family still has to go through the probate process to make those wishes legal.

Here are 3 key reasons why you want to avoid probate. Read More

by Tawnya Gilreath

Do I Really Need a Will?

Estate and Business

A will puts you in charge of directing others on your wishes and distribution of assets upon your death. Without a will or other estate plan – referred to as intestacy – you have no control and your state’s rules determine who gets what after your death. Even if you have a trust, jointly owned property, or have named beneficiaries on your insurance, a will is important, even as just a “backup” plan. Read More

by Tawnya Gilreath

Joint Property Perils

Estate and Business

People often set up bank accounts and real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other automatically inherits the property by right of survivorship, without the property having to go through probate. Joint ownership of property is perceived to be easy because bank accounts can be opened as joint accounts and when buying real estate, title can simply be taken as joint tenants. Read More

by Tawnya Gilreath

Tools to Help You Leave Words of Wisdom to the Next Generation

Estate and Business

Your estate plan leaves your physical assets to your beneficiaries, and you can also use your estate plan to leave them some of the hard-won wisdom you’ve accumulated over your life. You can let your family and friends learn from your mistakes, and profit from your successes. There are many tools and options available to you to convey your property and words of wisdom to your heirs during your lifetime and after death. Read More

by Tawnya Gilreath

Asset Protection for Business Owners and Individuals

Estate and Business

It’s not uncommon for people to mistakenly believe that asset protection is something only the very rich need to consider. The truth is that anyone, regardless of economic status, can be sued at anytime for pretty much any reason.
It’s important to note that there are various levels of asset protection and asset protection is part of an integrated estate plan. Asset protection planning is really about managing the risk to your personal and business assets from potential individual and/or business liabilities. Read More

by Tawnya Gilreath

Why Should I Avoid Probate?

Estate and Business

There are several reasons why you should avoid probate; however, in this post we will address the top 3 reasons. Many people mistakenly think that having a will avoids probate. Unfortunately, a will does not avoid probate, rather, it lets the family of the decedent inform the probate court of the decedent’s wishes. Here are 3 key reasons why you want to avoid probate if at all possible. Read More