What Assets Are Exempt From Probate In Georgia?

What assets are exempt from probate in Georgia?

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In Georgia, certain assets are exempt from probate.

These assets include:

Jointly Owned Property: Property owned with someone else with rights of survivorship. This automatically goes to the surviving owner.
Life Insurance Policies: Benefits go directly to the named beneficiaries, bypassing probate.
Retirement Accounts: Accounts like IRAs and 401(k)s usually have designated beneficiaries. These are not subject to probate.
Payable-on-Death Accounts: Bank accounts with a POD designation pass directly to the beneficiary.
Transfer-on-Death Securities: Stocks and bonds that have TOD registrations skip probate.
Living Trust Assets: Assets held in a living trust avoid probate. This is because they are owned by the trust, not the individual.

These assets transfer directly to the beneficiaries without going through the probate process.

So, we know what types of assets are exempt from probate.

But how do you set up your estate to avoid the probate process altogether?

Create a Living Trust: Place your assets (like your house, car, bank accounts) in a trust. After your death, these assets can be transferred to your beneficiaries without probate.
Name Beneficiaries: On accounts like retirement and bank accounts, name beneficiaries. After your death, these accounts go directly to them, bypassing probate.
Own Property Jointly: Let’s say you own property jointly with a right of survivorship. It automatically goes to the co-owner when you die, avoiding probate.
Use Payable-on-Death Accounts: Designate beneficiaries for your bank accounts. They get access to the funds after your death, without probate.
Gift Assets: Giving away property while you’re alive means less for probate.
Use Small Estate Laws: If your estate is small, use Georgia’s small estate procedures. This can simplify or skip probate.

We set up estate plans to avoid probate in Georgia.

Your assets can go directly to your beneficiaries privately, with no taxes, no creditors and lawsuits, and no government involvement.

Fill out the form to protect your family’s hard-earned wealth.

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