Wills Trusts & Estates

10 Worst Lawyer Views & 10 Great Things About Being a Lawyer

2011-03-11T01:13:00.000-05:00

March 2011

When I was younger, I thought lawyers were bottom feeders; thought they were professional liars, had no morals, and generally caused more problems than they solved. That’s actually what I thought about attorneys for most of my life. From what I’ve heard and seen, I would think most people would agree with my younger view of the legal practitioner. I understand how many people feel about lawyers because I felt that way too. I thought that lawyers were mostly interested in money; that people went to law school to become politicians and that lawyers charged too much per hour. I would avoid lawyers believing they were arrogant, always argumentative and that was the last thing I’d ever want to be.

Now, I’m older and of course…I’m a lawyer! I’ve had an about-face about being an attorney. Even while studying at Emory, I was ambivalent about going to law school. The point is, by the end of law school, I saw that a lawyer can be a force for good.

Here is what I like best about being a lawyer with my Vinings law firm:
1) Helping keep families together through tough times and transitions with a full service Trusts and Estates practice
2) Helping start a client’s business
3) Practicing under an earned privilege as a sworn litigating attorney before the courts with the legal duty to advocate for the client
4) Delivering legal services with efficient technologies, respecting a client’s time and reducing the fee
5) Believing that my grandfather, role model, and attorney, Arthur Meyring would be proud of the general practice I’m building
6) Working less than a mile from home
7) Building up the local community through pro bono legal and volunteer business services
8) Having my own corner office, setting my own hours, choosing my practice areas and clients
9) When clients say: “Thank you for explaining it in plain-speak so I can understand it the first time you tell me.”
10) The opportunity to break every bad lawyer stereotype and in the process help the greatest number of people in the best possible way.

*Robert S. Meyring is the managing attorney of Meyring Law Firm and offers free 10 minute phone consultations at 678-217-4369. The Firm’s practice areas include Litigation, Trusts & Estates and Business start up and support. The website at MeyringFirm.com has articles, details and planning forms. The Law Firm is located 200 feet east of the railroad crossing on Paces Ferry Road, Atlanta. MAP. The office is wheelchair accessible with elevator.

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A Trust Could Help You Now

2011-02-11T14:40:00.001-05:00

A Trust Could Help You Now

By Robert S. Meyring*

Attorney at Law

February 2011

Trusts are powerful instruments that have many good uses; but Trusts are also the most misunderstood and exploited instrument in the Trusts & Estates attorney’s toolbox. Wills are a close second. In both cases there are scads of lawyers, professionals, and websites that will promise to help write a Will or establish a Trust. Problem is, just because your cousin is a lawyer, that doesn’t mean your cousin will draft a good Will or an effective Trust. A cheap Will is not always an effective Will. Just because the operators of a financial seminar sold you an expensive “Revocable Living Trust” as your super-planning probate-and-lawyer-avoiding document, that does not mean the Trust will work for your planning needs.

Trusts are great, if utilized correctly. Here are just a few examples:

● If you’re entering an upper tax bracket this year, congratulations. You’ll probably have to pay more income tax, unless you reduce your taxable income before filing your tax return. A Trust could help here.

● When a life insurance policy pays out to beneficiaries under age 18, a Trust must be created by law for management of the Minor's insurance monies.

● When the in-laws or step-family is ready to pounce on the possessions and divide the assets of the soon-to-pass family money-maker, a private Trust agreement to handle the distribution is often the best way to keep out the greedy brood. A Trust agreement is private whereas a Will is public once it’s filed for Probate.

● If your friend needs to qualify for assistance, like Social Security Disability Income (SSDI) or Supplemental Income, a Trust can often be the recipient of enough income to lower the reportable income of the applicant to qualify for the assistance.

● If a person receives a lump sum settlement check for disability insurance, often there is a big income tax IRS bill that comes with the check. If the check is paid to a trust for the person’s benefit and with specific standards, then the tax bill may be deferred or never assessed.

● If you are under creditor attack and are about to receive an inheritance or other lump sum, a Trust benefiting you, would be the better recipient of the inheritance because the creditors cannot touch it.

● Other purposes include sheltering monies for a surviving spouse; Management of monies for surviving children; benefiting a charity; creating a legacy.

Trusts are not just for the management of a wealthy decedent’s estate. They can help people just like you and me.

*Robert S. Meyring managing partner of Meyring Law Firm offers free 10 minute phone consultations at 678-217-4369. The Firm’s practice areas include Litigation, Trusts & Estates and Business start up and support. The website at MeyringFirm.com has articles, details and planning forms. The Law Firm is located 200 feet east of the railroad crossing on Paces Ferry Road, Atlanta. MAP. The office is wheelchair accessible with elevator.
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Success or Failure - Your Call

2011-01-15T15:02:00.000-05:00

Success or Failure - Your Call

By Robert S. Meyring*

Meyring Law FirmAttorney at Law

With the stagnant malaise of 10% unemployment and the fall of the career employee, it seems more people recently are becoming “free agents” or independent contractors by choice or by force. As a free agent you may be hired temporarily by another; or you may be the person hiring free agents to help you deliver a product to your customers. Either way, there are some basics to know, so you can protect yourself.

Point: If you do something that earns a fee or if you make something that people buy, then organizing your activities into a business corporation is smart for professional, legal and tax reasons.

What do you think about a business partner paying an employee from the partner’s personal account? What about a charity represented by a person who says, “Just make out that donor check to my personal account…?” Neither scenario seems very professional. Rather, there is an immediate higher level of professional identification when a person represents their business dealings separate from their personal dealings. The personal/professional separation helps the public make a reasonable distinction between the person delivering the product and the business from which that product came. Once you grasp and achieve that personal/professional separation (or distinction) you can begin to build your professional image and brand identity.

The tax reasons for business incorporation are summed as follows: tax deductions, reimbursements, tax credits and perks; the legal reasons: liability protection. Meaning, if all else fails and the business becomes a money pit or serious liability, the financial disaster can be contained to just that business’s activities. The business incorporator’s personal assets are not “infected” and lost with the business liability.

For the full array of tax and legal issues relevant to your business, talk with a CPA or attorney. Like it or not, they are usually well worth the fee.

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The Gift That Keeps On Giving

2010-12-17T10:36:00.000-05:00

The Gift That Keeps On Giving

By Robert S. Meyring, Attorney at Law* December 2010

It's hard for most people to handle the subject of estate planning-especially when the handler is the subject. - R. Meyring

Discussing one’s estate plan and the passing on of a person’s legacy and assets is easy for some and difficult for most. Maybe the reasoning is that most people, by avoiding the contemplation of their own end of life, act as if they may live forever. Fact is, writing your will is really about planning for life.

The planning of your estate is really the planning for the life of your family and friends that come after you. The planning for incapacity, like with a power of attorney or advance directive, contemplates that the incapacitated person will become well again. The will or trust-centered estate plan is created for the financial benefit of one’s surviving relatives and friends. The benefit of drafting your will is "peace of mind;" a quality of life, non-financial benefit.

Essentially, the creation of your estate plan is a generous, giving act done for the benefit of your family and generally not for your own financial gain. Contrary to the planning involved with finances or investments, estate planning is a gifting act that looks for the later benefit of your family members.

Would you want to have a plan in place for the financial support of your child or your spouse in the case that you would not be there? Would you breathe easier if you had a plan for the control of financial decisions during your future times of incapacity? Would you sleep better knowing exactly what medical treatment would or would not be applied to your body should you slip into a coma? If you answered yes to any of those three questions, then maybe your focus on the immediate personal benefits of better sleep and increased quality of life will help you finally get the estate plan finished - with the help of a trusts and estates lawyer.

If you do not have an estate plan (i.e. a will or a trust), the State will dictate how your assets will be divided. If you have no immediate relatives, then the State will get your all your assets. If you want to give some of your estate to non-related friends, without a will, it generally won't happen. If you want to maximize the amount of your estate and minimize the payment of taxes and fees of administration, a little estate planning will save a lot of pain and money in the future. This Christmas, give to your family and friends in a way that will increase your quality of life now, will later enhance your family and friend’s quality of living, and you may even leave behind a legacy that will not be forgotten.

*Robert S. Meyring is an attorney practicing and living in the Vinings Village. Mr. Meyring's law office provides legal counsel in estate planning, general litigation and business start up and support, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. The Law office is located at 2931 Paces Ferry Road, Suite 201, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@meyringfirm.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is www.MeyringFirm.com

The Ghost of Christmas Future: How Will You Be Remembered?

2010-12-01T01:15:00.001-05:00

December 2010

By Robert S. Meyring

Attorney at Law

Charles Dickens had the right idea when he penned “A Christmas Carol” in 1843. A morality tale of sorts, it held a dire warning for those individuals who turned a deaf ear to their family’s needs. It begs the question: have you taken care of YOUR family?

As a Trusts and Estates lawyer and owner of a general law practice, I encounter a lot of people who say they want to get a will and estate plan. There’s a big gap between wanting to do something and actually doing it. The reality is that most people will not get a will. Only 30% of the eligible population has any form of estate planning, but nationally, 70% of people have life insurance. Both are acquired for the same reason. Think about that.

I am talking to the insured 70%. Are you insured, but have no will or no trust? Are you willing to pay 30 to 50 times more fee than the estate planning fee, for the term life insurance that has a 2% chance of paying out to your family? If so, you surely do not expect to be in that 2%. If you have minor children, if you’ve had a divorce, if you have a blended family, or if you have children in college - and you have no estate plan - you really should step up and get one. Not doing so may invite a disaster upon your family and next of kin; a mess you won’t have to clean up.

I understand. It’s hard to talk about the fact that you’ll die. It’s harder to talk about it with your spouse. It was hard for me and I’m an estate planner. So a few years ago I set out to do something about it: I made it easy for you to get your estate plan. My law firm is the only one I know that requires one 30-minute visit to get your will or trust established. After all, who really enjoys visiting his or her lawyer? I know your answer. So, who wants to contemplate their own inescapable demise? I know that answer too. So I’ve made the planning process as quick and as painless as possible. See how at www.MeyringFirm.com and click “Plan Now.”

Meyring Law Firm, and Robert S. Meyring, offer free 10 minute phone consultations with an attorney at 678-217-4369.

The Wrongful Practice of Law

2010-05-12T14:40:00.013-04:00

May 2010
By Robert S. Meyring*
Attorney at Law

People do not like lawyers. The opinion polls on lawyers and law firms are generally not good. The numbers say lawyers are not much respected among most of the populace. The polls continue to get worse.

When I have asked people why they have ill feelings toward lawyers, the answers are: "Lawyers charge too much. They get paid to lie. Lawyers are often arrogant. Anytime I've ever talked to a lawyer I've ended up angry or poorer." Fair enough. There is a lot of truth to it. For every quoted transgression, there's an attorney who will commit it - but it's also true that most lawyers would not overcharge, lie, or be anything less than a zealous advocate for their clients.

The trust and estates legal practice offers a good illustration of where some of the frustration concerning lawyers comes from. I have found that the "non-probate" or "non-estate planning" attorneys consistently mess up estate plans and the postmortem probates of estates. The most common mistakes are often made by a decedent's advisor, friend or lawyer. Often, the problem is that the lawyer had no business practicing in the planning or probate of estates.

The estates practice is a unique area of the law, where a small mistake can lose millions of dollars, years or even decades after the mistake. The litigation side often deals with trying to reach the original goals of the now-deceased will-signer or trust-maker. A lot of estate plan repair and interpretation work is litigated in the courts.

Many lawyers seem to think that they will "one-off" a will, or a trust or the probate of a family friend's estate. What they are really doing is called malpractice, because the later legal fees paid to correct the first lawyer's mistakes, are the monies and valuables from that family's legacy or estate that are now being paid to the later litigating probate attorney.

Accordingly, a good portion of my law practice is based on the mistakes of other lawyers. Some common examples of estates-related lawyer mess ups include wills that lack signatures, trusts that do not work, accidental disinheritances, and incorrect probate petitions filed by nonprobate attorneys.

The point is not to point out attorneys for practicing outside their field. Rather it is to show that you should really go to a lawyer that is practiced in the specific legal area where you need help. With legal services, or with anything, you get what you pay for and you should always talk with more than one attorney when you are looking.

* Robert S. Meyring, Attorney at Law, offers free 10-minute phone consultations at 678-217-4369. The office has moved to 2931 Paces Ferry Road, Suite 201 Atlanta, GA, 30339. The website is now MeyringFirm.com.

Honest Lawyers: Is that a Joke?

2010-04-09T16:28:00.000-04:00

For Bright Side News
By Robert S. Meyring*

Attorney at Law

When it comes to lawyer jokes, I must admit, I love them! I love the stories, the jokes and the general taking the "air" out of the lawyers' mystique. Being a lawyer, I know I shouldn't take such pleasure in the seeming derision of the legal practice or myself by association, for upon my swearing in to the Bar and admission to the practice of law, Cobb Superior Court Judge White first gave a stern speech and said: "Now, most attorneys I know, know that I do not like lawyer jokes! I find the jokes are undeserved and I have found in almost every case, lawyers are the most honest and honorable people I know…"

Little did the judge know that the 30-year practicing lawyer, fellow Emory alumni and my sponsoring employer standing next to me had a big book of lawyer jokes in his lobby, available to all clients, less than a mile away. Seeing the lawyer joke book before interviewing with my soon-to-be-boss let me know that the honest and honorable veteran lawyer to my side was a man with a sense of humor; a man who could see the lighter and more joyous side of things. And Judge White was right too: my sponsor and most all of the lawyers I have known before and since that time are honest and honorable people.

I've tried my hardest and have done everything possible to be a lawyer of integrity and honor and in the process honor my lawyer grandfather, and emulate what he did during his career summed up by his sister-in-law, my great aunt who said: "Your grandfather! He was a real man of the people! People knew that if they came to him, he would be able to help. He was a real man of the people!" I wish my granddad could see the practice I've built and the people we help. My dad did choke up when he said it, but he said he knows his dad would be proud.

Though I know he's right, I also know I will always push to make my granddad proud of everything I do as a lawyer and every way in which I, through my Firm and the practice of law, can help other people. And that's no joke.

* Robert S. Meyring, Attorney at Law, offers free 10-minute phone consultations at 678-217-4369. The office is moving across the street to 2931 Paces Ferry Road, Suite 201 Atlanta, GA, 30339. The website is now MeyringFirm.com.

Costly Cheap Legal Shortcuts

2010-03-11T18:15:00.004-05:00

By Robert S. Meyring* Attorney at Law I am a lawyer, a litigator, estate planner and a general practitioner serving the needs of my neighbors, their families and their businesses through the attorneys at the Meyring Law Firm. As a law practice we draft a lot of Wills, start a lot of businesses, write many contracts and give a lot of advice designed to nip problems in the bud before they bloom into a lawsuit. This “lawsuit minimization” strategy is one of the many things considered when a lawyer drafts your legal documents. People often ask what I think of Legal Zoom (LZ) and other similar online companies that offer wills, contracts, business start ups, and other legal documents. I respond that LZ is a document delivery service and not a law firm. LZ is a good business model and it meets a market demand. Simply put LZ will sell you a document for a price. Not a fee. No advice. LZ is not my law Firm’s competition because LZ is not a law firm. Rather, the law Firm has recently received a number of new clients with LZ documents that were incomplete or flawed. I have a feeling that LZ will be to thank for a lot of our Firm’s future Will contest clients as well. Ultimately, you don’t get much for free; you can buy troubles for cheap but lawyers do cost money for good reason. When it comes to legally protecting yourself, your family and your business, is it worth doing it on the cheap? *Robert S. Meyring of The Meyring Law Firm offers free 10 minute phone consultations at 678-217-4369. The Firm's website at WillsQuill.com has more articles, details, and planning forms. The office is located at the Vinings Jubilee, Paces Ferry Road. Please Google search "Meyring" for an office map.

Secrets & Revelations: Why Lawyers Keep Original Wills

2010-02-20T14:54:00.006-05:00

Have you ever had your Last Will and Testament or Trust-based estate plan prepared by an attorney? Where are those original documents? Are they at the lawyer's office? Is that the safest place for your originals - or it could lead to far more complications than are worth mentioning here? Whether the attorney gives you an "advised" choice to have their firm keep your originals or gives you a choice to keep them in your own safe place makes a real difference; you will pay more with the advised choice and less with the free choice. Estate planning lawyers know that the keeping original documents is the business marketing equivalent to having an invisible tether around the client's ankle. If the original attorney keeps the documents, then the client is forced to go back to that original attorney instead of seeking new advice from a different attorney (that may be less expensive) when comes time to probate the estate. There is really no rule against such lawyer conduct. My advice is to keep your original estate planning documents in a safety deposit box or in a fireproof safe in your home. When these documents are needed, they are easily obtained and one has the freedom to use any attorney they choose. If you want to keep your own original documents and your attorney has them in their files, simply ask for the originals back and they are obligated to return them to you. *Robert S. Meyring of The Meyring Law Firm offers free 10 minute phone consultations at 678-217-4369. The Firm's website WillsQuill.com has more articles, details and planning forms. The office is located at the Vinings Jubilee, Paces Ferry Rd. Please Google search "Meyring" for office map.

The Throw Momma From The Train Law

2010-01-12T19:04:00.004-05:00

By: Robert S. Meyring*Attorney at Law
Some people earn their money, others are born into it, most have enough to just get by, and some have almost nothing or less - especially in this economy. Even so, it seems most Americans think there's a chance that they may have the luck or the ability to own or make millions even if by insurance, Lotto, or inheritance.

The "Throw Mama from the Train Act" is the unofficial name, known in the trusts and estates law practice, for the Economic Growth and Tax Relief Reconciliation Act of 2001. The Act repealed the estate tax (or "death tax") for this year of 2010 and only for one year. So the nickname is a cynical reference to the perverse financial incentive built into the law. The law basically would "allow" the children of wealthy parents to receive all of their inheritance with no estate tax to pay the IRS if, and only if, the parent dies in 2010.

To illustrate: Jane Bryant Quinn, financial columnist, commented on the Act, "In 2010, ailing parents will keep their bedroom doors locked when their children are in the house. It's going to be a great year to die."

Yes, the "death tax" is currently dead for one year; this year of 2010. Go Jane!

Here is how it works: If you or your parent passes away with $2 million or even $50 million this year, in 2010, the IRS would take no estate tax from the estate. None. But if the death occurs in 2011, the IRS death tax bill would be imposed on the estate after the first $1 million. In the case of $50 million, about $20 million of your legacy or inheritance would be lost, I mean, paid to the IRS.

What can you do? Doing nothing and not drawing up a will or trust is sometimes about the worst thing you can do. Call a trusts and estates or estate planner attorney. Do it for your family. There are many planning instruments that help prepare for the ever-changing laws that affect your inheritance. Don't let the IRS tax away your legacy. A little planning now could save millions later.

*The Meyring Law Firm offers free 10 minute phone consultations at 678-217-4369. The Firm's website at Willsquill.com has more articles, details, and planning forms. The office is located at the Vinings Jubilee at 29000020fefPaces Ferry Road, Atlanta.

Give Family, Yourself a Plan

2009-12-07T10:13:00.001-05:00

Give Family, Yourself a Plan

By Robert S. Meyring*

For Bright Side News

December 2009

Knowing that far fewer than 50% of the American population able to draft and sign a will or a power of attorney actually have one. I ask the question: Why is that? I think about this question a lot because I have a trusts and estates law firm focused, in part, on helping people draft wills or trusts, helping families deal with the legalities and transitions related to a family member's passing. I reckon getting behind the reasons why individuals with kids, marriages and assets hesitate and often fail to get their wills, and/or related papers, drawn up will help my Firm help the most people.

Given a chance to talk to the majority of people who have no will or estate plan documents, I'd ask: Do you understand that if you expire without drafting a will, you have told the State of Georgia that you have chosen to be intestate and to have your assets and legacy pass to your survivors by the state's intestate code. If intestate and you have no children, no siblings, and are out of touch with any relations, your assets, everything will likely be taken (escheated) by Georgia.

The obvious reason to delay estate planning is the fear of death. To be sure, a will-signing ceremony properly conducted is an acknowledgment of one's mortality; but if anything, I see an awareness and content peacefulness about my clients at the time he or she should sign estate planning documents. Moreover, the clients are quite aware of the mess they'd leave behind if the client was hypothetically hit by a bus tomorrow. Figuratively, that's maybe what it feels like when you, the patient, are delivered the potentially terminal diagnosis. Nevertheless, "life is a terminal condition" (a truism giving more than 3 million hits on a Google search.) So take it in stride. Plan for it. Once you're beyond the Realization, please understand that the estate planning you do for yourself is actually more an act of giving to those you leave behind.

If you have a Will or Trust or a power of attorney or an advanced directive for healthcare - CONGRATULATIONS! You are in the wise minority that do have some, or complete, estate planning documents. You are ahead of the pack. If your plan was prepared by a trusts and estates attorney, then your plan should be well-suited to your current needs and lifestyle. Even if you did not get your estate planning documents from an estates lawyer (by do-it-yourself trust, will kit, will from a lawyer friend, trust from non-law firm, an Internet will form, etc.) it is better that you have something in place in case the worst happens.

So, if you DO know the worst will happen, then it's just sensible and prudent to plan for it before you're no longer able to plan.

*Robert S. Meyring offers free 10 minute phone consultations at 678-217-4369. The law firm's website www.willsquill.com has more articles, details, and planning forms,

If You’ll Be Dead in a Year (or More)…

2009-11-07T20:14:00.006-05:00

… A Few Truths to Plan By

November 2009

By: Robert S. Meyring*

Attorney at Law

Next year, 2010, is the year that estate planners call the "Throw Mama from the Train-Year." The IRS will collect no "death taxes" from the estate of anyone who passes away in 2010 no matter how rich the deceased may be; including Bill Gates, Warren Buffet, etc.

Badly drafted wills and trusts are often drafted by lawyers who do not often draft wills and trusts.

The most compassionate area of the law is the trusts, estates and probate practice because estate planning and probate litigating lawyers uniformly help the greatest number of people while causing the least amount of damage.

Probate, the process that transfers the worldly possessions of the deceased to the intended beneficiaries (by will) or the closest heirs (by intestacy), as overseen by your county's probate court, is generally a good thing for most people. Some states have rules that make probate harder or costlier than other states; Georgia has rules that make the probate of a decedent's estate generally easier and less costly than states like Florida and California.

The stepfamily is usually greedy in a will contest situation. I have found many families, lawyers and accountants that agree on the issue. If it's your money and you know what you want to do with it, plan now or forever's gone the blended family peace after you're deceased.

It is common for relatives, stepfamily, or acquaintances of the decedent to raid the home and tangible possessions in the hours and days following the death. I call this the "land rush."

I estimate that people need revocable living trusts only about 5% of the time. So please be wary of the salesman or lawyer who heavily pushes a RLT-centered estate plan. Sellers of the revocable living trust (RLT) are often selling the wrong estate planning instrument. Get a second opinion.

Often less costly, an estates attorney-advised, last will and testament is often the better and correct way to go. Planning with an estates lawyer would 1) preserve your legacy and 2) help set a plan for the trust-support of your children by life insurance proceeds should anything happen to their parents. That's important.

*Robert S. Meyring, offers free 10 minute phone consultations at 678-217-4369. The law firm's website http://www.willsquill.com/ has more detail. The Meyring Law Firm specializes in Georgia estate planning, wills, trusts, probate of estates, litigation and related general practice matters..

Myths about Probate and Revocable Living Trusts

2009-10-08T10:52:00.001-04:00

September 8, 2009

By Robert S. Meyring

Attorney at Law*

Myth #1: "You should avoid probate."

The Truth: The Probate of a deceased person's estate is often necessary and in the best interests of that person's family and beneficiaries. Usually the speaker of the above mythical phrase is trying to sell you something.

Why should you avoid Probate? Many people hear the phrase "avoid probate," but most listeners do not grasp the meaning and the motive behind those who say it. Probate is the legal process by which the State, through the Probate Court, gives legal authority to a person as executor or administrator so they may distribute the decedent's remaining possessions and pay or settle the existing debts. The Probate Court approves the final will and its clauses within, describing estate distribution. The Probate Court also makes sure that, if there's no will, the decedent's surviving spouse and next of kin do actually receive the estate's assets.

The greater cost associated with "avoiding probate: is paid in two places: 1) during the planner's lifetime when a Revocable Living Trust (RLT) and other documents are created in order to avoid probate and 2) after the death of the planner when Probate is necessary anyway in order to complete the transfer of assets that were never transferred to the trust. Often with a probate-avoidance themed estate plan, the Probate Court must appoint an administrator anyway if there is no will or an executor if there is a will.

Myth #2: "A Revocable Living Trust will help avoid probate and reduce the amount of "death taxes" due to the IRS."

The Truth: The RLT is often not necessary and in most cases a customized Last Will and Testament would have been less expensive and more specific to the trust-signer's needs.

The website www.WillsQuill.com, under the homepage "articles" tab, has more myth-busting information.

* Robert S. Meyring, Attorney, offers free 10-minute phone consultations at 678-217-4369.

Atlanta Georgia Wills Estate Planning Law Firm Will Contest Executor Heirs Probate

2009-09-24T20:00:00.001-04:00

You're the Executor of a Debt-Ridden Estate

Now What?

September 8, 2009

By Robert S. Meyring

Attorney at Law*

What does the title mean? What's an executor? Why would you be an executor? What is an estate?

Chris, a lawyer, was riding a motorcycle on a country road when he rounded a sharp curve, crossed the middle of the road, and slammed head-on into a truck. Chris died. Chris had a spouse, children, the land and house where he lived, cash, a lot more debts than assets, and a will that named his brother Dexter as executor. Aptly, Chris was a lawyer that was taught, like all other lawyers during law school, the importance of drafting a will and making sure you do not leave an intestate mess behind for your family and loved ones.

I've said many times that estate planning is the specialized practice of law that answers the question: "What happens if I am hit by a bus?" (Please see WillsQuill.com homepage for the article.) In a larger sense, estate planning is about helping, guiding and advising people and their families during difficult times. But please be aware that estate planning is also a "gateway" practice area that many "non-estates lawyers" with a book of forms will tell you they can do. Here, you will get what you pay for. When it comes to the actual application of probating Chris's estate for his hypothetical family, a non-estates gateway lawyer is liable to make the situation worse at the worst time. If Chris's spouse hires a non-estates attorney to help with the probate, that attorney comes with the added risk of an inability to maximize the value of the estate. In this way, billions of dollars are unnecessarily paid from probated estates to Uncle Sam or to creditors every year.

Dexter, brother to Chris and uncle to his children, was named as executor in Chris's will because Chris trusts Dexter to gather Chris's assets, resolve debts, and distribute remaining property and money of the estate (a decedent's total assets and liabilities). Chris was not married at the time he drafted the will. If he was given the option, Chris would have changed his choice of executor to his wife after he was married. Given the facts - that Dexter, the named executor, now lives thousands of miles away from the place where Chris's estate will be probated, and that Chris's wife is a better local choice for executor - the wife can instead be the executor if Dexter says it is ok. If that's not ok with Dexter, then the wife can either fight the issue with him in Probate court or agree with Dexter and let him be the executor as stated in the will.

In Chris's scenario the three most serious issues are: how to follow the decedent's wishes, how to reduce the personal liability of the executor, and how to resolve the estates debts by keeping the most money in the estate while paying the least amount to creditors. An estates attorney, and none other, has the needed skill set and can best assist the executor to achieve those goals. Sometimes, depending on many factors, an estates attorney can resolve millions of dollars in estate debt with payment of pennies on the dollar - or less. In an estate like Chris's, his surviving spouse can easily lose the home, land, and other assets without the help of a trusts and estates attorney. Put another way, Chris's surviving spouse will likely lose the house if she does not get the assistance of an estate planning attorney.

An estate planning attorney will protect the surviving spouse from the debts and creditors of the deceased spouse. The estate planning attorney will file petitions with the Probate and Superior courts, appear at court on behalf of the executor, and make arguments before the judge to correct the respective mistakes and oversights of the original will or trust document. So if the attorney that proposes to help draft your will is not an estate planner or the lawyer that assists in the probate your loved one's estate does not "go to court," you may end up short changed.

*Robert S. Meyring offers free 10 minute phone consultations at 678-217-4369. The law firm's website www.willsquill.com has more articles, details, and planning forms. The office is located at the Vinings Jubilee at 2900 Paces Ferry Road, Atlanta, Georgia 30339; Email: meyring@willsquill.com. The Firm practices in estate planning, wills, trusts, probate of estates, litigation and related general practice matters.

A Declaration of Cognizance

2009-07-07T00:32:00.003-04:00

In my recent musings, I came across a number of things that may be considered when thinking about our "one Nation, indivisible, with liberty and justice for all." I ask you as an American, what do you think about when pondering the meaning of each word within the quotes? Does that accurately describe the: "We the People…" the American republic for which those words stand? That's the Pledge of Allegiance to our Flag. But what does it mean?

The true reason for allegiance to the Flag as stated by Francis Bellamy, the author of the Pledge, is the "Republic for which it stands." The "Republic" is the concise political term for the Nation – the One Nation – which the Civil War was fought to prove. To make the "One Nation" idea clear, Bellamy felt that it must be specified that the Nation is indivisible. In 1892, while penning the Pledge, the author was thinking about milestones in the birth and growth of the American nation from the Declaration of Independence, to the drafting of the Constitution, to the Civil War. Bellamy was focusing on the essence of "We the People" as a nation.

There's actually no requirement that anyone should say the Pledge. But neither is it required that everyone stand when the Star Spangled Banner is sung at the beginning of many American sporting events. Since 9-11 we've even added America the Beautiful to baseball's 7^th inning stretch. Why? The sports fan is not required to stand and sing, but it's not uncommon for the seated fan to receive condescending stares during the "America" rendition. To sing or not to sing (or efforts to express patriotic superiority) in that situation is an assertion of the American Constitutional First Amendment right called the Freedom of Speech.

Most Americans know that everyone has a Freedom of Speech right to say what they want (up to the point that the speech may actually hurt someone else) but shockingly, I find most Americans take for granted the ability to speak one's mind. Consider the fact that most Americans are unaware of the other free speech rights guaranteed under theFirst Amendment even though they practice such rights every day.

Can you read the First Amendment and fully tolerate the way in which Americans practice their rights? Here is what it says: "Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances." Do you believe in freedom of the press or do you want limitations on what the press may report? If the reporting is on your own family's affairs you might want some limitation on such speech, but if the reporting is on the President's family or affairs, you might instead say that the press should not limit investigative reporting speech. Some talking heads believe that certain special interest groups should be limited in what they do or how they should act, yet such comments are usually hypocritical and constitutionally uneducated. How can a person suggest the NRA's or ACORN's speech should be limited and yet defend his or her own unfettered political expression?

Then there's religion. Congress cannot make laws respecting an establishment of religion, nor prohibit the free exercise of religion. This pair of rights confounds American fundamentalists who wrongly state "We are a Christian nation." Really? If that's right, then what is the implication about non-Christians? The Constitution states the extremes of religious establishment and prohibition of religion by Congress are not permitted. Rather, religious toleration, as seen in America's past, is the result when the establishment and prohibition extremes are removed. By the "free exercise" clause above, Congress states citizens are free to practice their own religion. Remember that colonists came to America seeking religious tolerance and freedom from religious persecution? So why be less tolerant now? The current political example of state-sponsored morality and religious fundamentalism is found in Iran. It's a theocracy and has been for 30 years. How is that working for them?

The next time when pledging allegiance to the Flag or singing about the "land of the free and the home of the brave," I respectfully suggest keeping in mind that our founding Americans fought, died, sacrificed, and communicated thoughtfully about issues. They placed their entire uncertain future on the line when signing the Declaration of Independence 233 years ago. It was 15 years from that Declaration to the Congressional ratification of the U. S. Constitution during which this American nation took on a battled, bloody, and extreme course of action to "secure the Blessings of Liberty to ourselves and our Posterity." We are the posterity that benefit from Americans' past sacrifice. Maybe upon such reflection these hard-fought rights will not be taken for granted.

We are blessed people as Americans but we're not perfect. In fact, our forefathers drafted the Constitution "in order to form a more perfect union…" Out of respect for the birth of our nation and the millions of Americans who lived before we were born, I suggest a common understanding of the Constitution and greater tolerance of the rights of all fellow Americans.

Happy Birthday, America!

Losing Your Mind, Part II

2009-05-11T22:16:00.004-04:00

For Bright Side News

May 2009

By: Robert S. Meyring*

Attorney at Law

Losing Your Mind, Part II

Incapacity happens a lot. You don't know what hit you until you wake up. Do you know anyone in your family that has ever completely lost his or her mind? It's more likely than not, your answer will be "yes." Why? Because of the fact that it is more than 50% likely you will experience a period of incapacity during which you will not be able to make financial and health care decisions for yourself. How does that happen? What can you do about it?

First, what is incapacity? As noted, it's the inability to make financial and health care decisions for yourself. It occurs any time you are involuntarily unconscious like a blow to the head or general anesthesia; or any time you are unable to speak or express your preferences. Inebriation is incapacity if reasonable decisions cannot be made by the inebriated. Sleeping is never the same as incapacity. Incapacity happens in a lot of ways.

Incapacity can be temporary, intermittent, long lasting, or permanent. It can happen from physical trauma, disease, illness, treatment, or aging. A few months ago I told readers that my brother had lost his mind with complete amnesia (also incapacity). He was in a bad car crash and had a contusion - which is like a bruise resulting from a punch in the brain. The amnesia was temporary. He is mostly better now. What I didn't tell readers was that my two grandmothers had both completely lost their minds before they passed away. My favorite grandmother had Alzheimer's and lived with us as we tried to care for her. That was very hard. My grandmother's demise, after being diagnosed with Alzheimer's, was fast. On the contrary, my other grandmother, who died at 98 and 1/2 years of age, lost her mind by dementia and her decline, after diagnosis, was more than ten years.

My dad, who was incapacitated more than twenty years ago when he had a heart attack, recently gave an after dinner mini-speech to his children, their spouses and his wife of 50 years. He went down the list of seven children from oldest to youngest including spouses and told us why he was thankful. He named everyone, what they did for work, their spouses and children, and how fortunate he was for it all. With some relief I thought of how detailed my dad was in making his speech from memory. With gratitude, I told a sibling next to me: "You cannot say Dad is losing his mind after a speech like that."

So what can you do? You can state your financial and health care wishes in Powers of Attorney and Advance Directives, respectively. You also state who will carry out your wishes while you are incapacitated. Those documents are very powerful and they can have permanent legal consequences. They are easier to establish than a Will or Trust and they can easily cause problems if drafted without legal guidance.

And what can happen if you do not establish these documents before incapacity?

Answer: Terri Schiavo.

*Robert S. Meyring, an Emory-trained attorney, offers free 10 minute phone consultations at 678-217-4369. The law firm's website http://www.willsquill.com/ has more detail. The Meyring Law Firm specializes in Georgia estate planning, wills, trusts, probate of estates, litigation and related general practice matters.

What Will Be Your Legacy?

2009-04-20T22:36:00.007-04:00

By Robert S. Merying* For Bright Side News April 6, 2009 It’s a truism that most adults, single, married, with or without children, want to establish their wills, and to plan for incapacity. For those who want to establish an estate plan, I have found a few distinct behaviors that follow. The first impulse seems to be for the individual to try to draft and sign a will in the cheapest way possible, through an office store form, a program, or an online company. The other impulse seems to be to get an expensive and often excessive estate plan with a revocable living trust, deed transfers, and stacks of legal documents in pursuit of the perfect plan that avoids probate, regardless of the alleged need to avoid probate. A third action is not an impulse, but rather a considered, careful decision to plan together with an attorney - hopefully an estate planning attorney - to receive effective legal advice about the planning goals and effect, and to professionally oversee execution of the estate plan documents. A common fourth behavior is to delay and to plan for another day. I want to emphasize that of the four above options, none of them are particularly right or wrong. In my estimation as an estate planning attorney, I mostly see the options as effective or ineffective as applied to the person’s circumstance. What is right or wrong about the above choices depends on how the individual, who wants to establish an estate plan, views the correctness of their choice. Meaning, if a parent with several children over a couple of marriages chooses to write and draft an estate plan in the cheapest possible way or instead chooses to delay their estate planning for a different day, then for that parent-individual, their choice is the correct choice – even though the plan would be easy to attack in a will contest or would leave the individual intestate. Everyone is free to establish their estate plan or to rely on the incapacity and intestacy rules of Georgia. By not drafting a will and by choosing to not decide about the treatment of your person, treatment of your money, and the distribution of your possessions, you still have made a choice to rely on State guardianship, conservatorship, and intestacy. Not making a choice is often unintentional, but the lasting effect and impression of intestacy becomes part of the legacy the decedent leaves behind. This is my note to you, to say that if you are reading this, then this is your opportunity to leave behind a more favorable impression by establishing your plan for the “just in case.” Everyone (over 14 and of sound mind) is eligible to establish a new estate plan or improve an existing plan. If a person is early in their career and has kids and spouse, then insurance funding a contingent testamentary trust is an inexpensive and thoughtful way to care for one’s children or spouse in case of incapacity or worse. It’s very curious that people will easily pay life insurance premiums, but will find it difficult to pay the equivalent of one year’s insurance premium to establish an estate plan for incapacity or death. Why is that? This is when insurance premiums are paid out to 19-year old orphans with disastrous results. With a little estate planning in this scenario, the life insurance proceeds, if paid out, could be directed to a trust to be created for the metered benefit of the decedent’s children. Now that is a good, lasting impression. That’s a thoughtful legacy. * Robert S. Meyring offers free 10-minute phone consultations at 678-217-4369. Mr. Meyring is an Emory attorney. The Firm’s practice areas include estate planning, wills, trusts, probate of estates, litigation and related general practice matters. The Meyring Firm website http://www.willsquill.com/ has past articles, more detail, and planning forms. The office is at the Vinings Jubilee at 2900 Paces Ferry Road, Atlanta, Georgia 30339; email: meyring@willsquill.com.

Do You Want Your Will Contested?

2009-03-11T22:20:00.007-04:00

Do You Want Your Will Contested?

March 11, 2009

By Robert S. Meyring

Attorney at Law*

Though my client was racked with cancer and would drift off from the intravenous drip pain medication, when the time came and she was asked, she boldly answered that everyone present was gathered in her hospital room to watch her sign her Will. I stated to the assembled witnesses and family that my client had shown she had the mental capacity to sign. So she signed. My client's family then had the assurance that during her present incapacity, or at the time of her imminent passing, the family would at least have a plan in place. That was her first and last Will. She passed away eight days later.

The hospital room signing meeting took more than two hours. Typically, an attorney can conduct a proper Will signing for a married couple, in about thirty minutes. The extra one-and-a-half hours I spent with the client were to make sure everything was signed and witnessed properly. If the Will signing is not conducted properly it can lead to an invalidated will or failed plan, an ignored power of attorney, or the suspended animation of a life in a coma because the Advance Directive for Health Care was not properly witnessed.

It's a fact of life that estates lawyers regularly visit hospitals, usually to counsel and care for the sick and dying. Estates lawyering to the sick and dying ultimately helps the family and close friends of the hospitalized client.

I chose not to become a medical doctor (after earning a pre-med degree in college and after working in operating/delivery rooms as a "scrub nurse") because I did not enjoy working in a hospital. It was the pursuit of enjoyable work that led me to volunteering with the Peace Corps. It was during my years volunteering overseas that I received my calling to be a lawyer. So it's ironic that lawyering would at times take me back into the hospital to do my work.

Practicing law as an estate planning attorney is the way I will have the most beneficial effect on the greatest number of people. But being only an estates attorney is not enough to provide my clients with the great service they expect. I ask: What good is an estates attorney if they cannot defend the Will or the estate plan they drafted? That's a defenseless attorney; an oxymoron. My personal and flawed opinion is that lawyers should be able to litigate if necessary; even John Grisham, world famous Southern author and lawyer, would litigate a case now and then.

An estates attorney with courtroom experience will be able to spot and properly address the issues and reduce the chance of family litigation later. Court time is necessary when an estate creditor asserts a claim against the estate. Minimizing or eliminating the personal debt of a decedent can be done, and it will require an estates lawyer's court time and possibly some hard-nosed negotiating.

When asked, I tell people, when drafting your own Will, Trust or estate plan, there are many more ways to get it wrong, than to get it right. I encourage the determined to try to draft their own Will or to use online document services. If you get the estate plan on line, you will be getting a form document and not getting legal advice.

I have redrafted a number of such dysfunctional online estate plan form documents. Half of such documents I reviewed were fatally flawed and could easily be invalidated if contested. I look forward to the day when I am hired to contest an online created Will.

So when you pay an estates attorney to draft your estate plan, you are also paying for the protection of your plan, your legacy, and your family. What could be better for you and your family's peace of mind than getting your plan with Wills/Trusts, Powers of Attorney, and Health Care Directives written and signed? Maybe knowing that the compliments our Estates Firm most often receives from the signing client are: "Wow! That was easy, painless and convenient." Thank you.

* Robert S. Meyring, Atlanta Estates Attorney offers free 10-minute phone consultations at 678-217-4369.

Losing Your Mind

2008-11-23T13:23:00.002-05:00

Losing Your Mind By Robert S. Meyring*, Attorney at Law Written for Bright Side News November 2008 – A Cobb County monthly publication On my brother’s way to work a month ago he was hit from behind by a tractor-trailer. His compact car propelled forward, striking an oncoming van. The roof and much of the car was flattened. My brother had to be cut out of the wreck and taken by helicopter to the hospital. My mom gave me the good news: “He survived.” The bad news was that my brother had a bad contusion to the head. He was not knocked unconscious, he was knocked senseless. He did not know his name, his wife, his family, and he did not remember anything of the accident. He now needs 24-hour medical care. In my brother’s blank state of mind, he meets the classic definition of incapacity. Incapacity also occurs under general anesthesia, amnesia, comas, or almost anytime a person cannot speak for themselves. This is where a signed statement of my brother’s financial and medical choices would have been very helpful and easy to draft. The medical choices are known as Living Wills, Healthcare Proxies, and in Georgia: Advance Directives. The financial choices are made in a Financial Power of Attorney. The simple fact is that, due to advancements in medical technology, it is more likely you will have a period of incapacity at some time before you die. It’s more likely than not, that the reader of these words will face incapacity sometime before death. Couple that with the fact that most of the eligible population does not even have the simplest will. The results are families under stress, big legal bills, and a more expensive probate of the estate. My brother is slowly recollecting fragments of his memory, but he still cannot legally sign a will, sign a check, or anything else. He can talk, but he cannot understand the meaning of any document he sees. He’s still incapacitated. Just like the best time to borrow money is when you don’t need it, the best time to get your Advance Directives and Powers of Attorney is when you don’t need them. In either case, eventually you will need it; and if you don’t have it when you need it, then it’s impossible to get. *Robert S. Meyring offers free 10-minute phone consultations at 678-217-4369. Mr. Meyring is an Emory-trained attorney and founder of the Atlanta based Meyring Law Firm. The Firm's practice focuses on estate planning, wills, trusts, probate of estates, litigation and related general practice matters serving all Georgians. The main office is just inside the I-285 perimeter at 2900 Paces Ferry Road, Atlanta, Georgia 30339. The firm website www.WillsQuill.com has informative articles, details, and planning forms. The email is meyring@WillsQuill.com.

"You're Worth More Dead than Alive!"

2008-06-17T14:24:00.001-04:00

By: Robert S. Meyring* Attorney at Law June 2008 Debt. Almost everyone has some debt. I have heard people say, "America is a debtor nation." True. Some reports show our gross national debt is at record levels of more than $9 Trillion dollars. Can you imagine $9 Trillion dollars? I can't. Our American population is currently over 300 million people. Basic math shows that if the debt was spread among the population, each and every citizen would carry about $30,900. Debt is a fact of life. Most American's have debt, so most Americans are also responsible for paying the debt. For most of us, paying the monthly mortgage, second mortgage, credit card, student loan, or car payment is how we manage debt on a daily basis. But what happens to your debt when you die? Does it go away? Does it then become the surviving family's debt? Here's one illustrative scene from "It's A Wonderful Life," Frank Capra’s 1946 classic with Jimmy Stewart as George and Donna Reed as Mary, his wife. Mr. Potter, the money-grabbing evil tycoon of Bedford Falls, laughed as he mockingly summarized George Bailey's net worth, "You're Worth More Dead Than Alive!" George Bailey couldn't get Potter's condescending words out of his head: "You're worth more dead than alive!" George's life insurance policy was worth more than the debt he owed. In a moment of punch-drunk haze, George agreed with Potter's twisted logic and jumped off a bridge, into the icy waters below. George probably did not know that sometimes life insurance policies have a suicide clause that prevents payment of insurance premiums if the insured person commits suicide. Contrary to the fictional account by Capra death or suicide does not grant a debt-pass for the decedent. Debts of an estate are complicated issues with many factors to consider. Sometimes debt of the individual may be eliminated by death and court order, but the court, by law, must consider 1) the gross value of the estate assets and debts, 2) the financial needs and means of the surviving family, and 3) the rights of the creditors of the estate. If there are enough assets of the estate to pay the creditors and not leave the family in dire straits, the debts will not be dismissed. The creditors have a right to a court hearing before debt is dismissed. The state law puts a priority on the surviving family and thereby, the court balances the interest of the creditor and the surviving family before making a ruling. If you believe that debt can never exceed the value of one's life, then a person can never be worth more dead than alive. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

And the Millions Go To...

2008-06-17T14:20:00.002-04:00

By: Robert S. Meyring* Attorney at Law May 2008 Often when couples first consider writing a will or creating a trust, which is also known as estate planning, I have often observed the couple’s focus is on the simultaneous death scenario and the questions related to those thoughts. The most common question asked about that topic is: “What happens if we both die in a car crash.” It’s actually far more common that each spouse will pass away successively, not simultaneously. Sometimes it happens that deaths are very close in time and it may be difficult to determine who passed first. In such cases where there is no will, legal disputes often follow. One local and notorious example involves, Chris Benoit, a professional wrestler. Almost a year ago, Benoit tragically killed his wife Nancy Benoit, his child Daniel, and himself in Fayetteville. There were no wills. There is a current court battle over the Benoit estate which centers on the question: Did Nancy or her son Daniel die first? With $1.5 million to $3 million at stake, the answer to that question matters a lot. The reason it matters is because under Georgia law, there is a “Slayer Statue” that says the killer or slayer is automatically considered to have died first and cannot profit from the crime and the heirs of the slayer cannot profit from the homicide either. Heirs are the people in close relation to the decedent who would receive from the estate. The estate is the total of all assets and liabilities left by a person at death. When there are no wills or estate plan, issues of order of death and inheritance can lead to big legal fights. So, with Chris Benoit as the slayer here, his $1.5-$3 million estate would first pass to his heirs – but which heirs? That’s what the current court battle is about. If Nancy died before Daniel, her estate, which includes all assets of Chris Benoit’s estate, would flow into the estate of their son Daniel. Daniel’s heirs would be his half brothers, from Chris’s previous marriage. But if Daniel died first then Nancy’s estate would pass to Nancy’s parents as she had no other children. We will eventually see the resolution on the Benoit estate case. Watch closely. It could get even more interesting. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Top Five Reasons to Write a Will

2008-06-17T13:44:00.002-04:00

By Robert S. Meyring, Attorney at Law* March 2008 A lot of people say they should have a will. Yet, most people, in fact, do not have even a simple will. People have many good reasons for not having a will. Some people say they will get around to it another day. Other people just do not want to deal with the idea of estate planning, until they absolutely must. Some say that they will leave all their possessions behind without a will and let the family survivors “fight it out.” Others have very specific plans that never become a reality because they never got their ideas onto paper. For whatever reason it happens, a lot of people pass away without having a will. Much opportunity for planning the family’s future, saving thousands in taxes, or assisting in the upbringing of your descendants is lost. Keeping it simple, I want to share with you my personal and professional top five reasons to draft a will. My top reasons as influenced by practice and experience are: 1. To create a plan for the care of children if one or both parents are not there to raise them 2. To achieve a feeling of well being and a general sense of security knowing there is a plan in place for you and your family “in case anything should happen.” 3. To prevent fighting among surviving family members over the remaining possessions of the deceased relative. 4. To make the probate process easier or to keep probate private. 5. To be best prepared to minimize or defer the payment of estate taxes There are actually many more reasons to draft your will or estate plan. Every individual has their own unique set of motivations and goals which will give rise to each person’s estate plan. If you would like more detail or to keep up to date with developments in estate planning, please sign up for our newsletter on the website. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

The Gift That Keeps on Giving

2008-06-17T13:31:00.005-04:00

By Robert S. Meyring, Attorney at Law* December 2007 It should be emphasized that when it comes to estate planning, it is not an easy subject for most people to handle. Christmas day, two years ago when my father pulled out and read his last will and testament, my siblings and I were shaking our heads, cringing a bit, and chalking up the experience to the fact that that is the way my Dad is. He has no problem talking about his estate plan, his death, or what he expects to happen after his passing. Contrarily, my wife and a sister-in-law were somewhat bewildered by the gratuitous information and were crying as he read from his testament. Discussing one’s estate plan and the passing on of a person’s legacy and assets is easy for some and difficult for most. Maybe the reasoning is that most people, by not contemplating their own demise, act as if they may live forever. I would like to suggest that the planning and drafting of document to handle a person’s affairs in situations of incapacity or end of life is not about death – but is really about planning for life. The huge intuitive leap is that the planning of one’s estate is really the planning for the life of others. The planning for incapacity contemplates that the incapacitated person will recover their life. The will or trust-centered estate plan is a plan created for the financial benefit of one’s living relatives and friends. The benefit to the will-drafter (or testator) is a quality of life, non-financial benefit. Essentially, the creation of your estate plan is an outward, giving act performed for the benefit of your family and generally not for your own financial gain. Contrary to the planning for one’s finances or investments, estate planning is a gifting act that looks into your future for the lifetime benefit of your family members. Often, the way in which we approach something depends upon our perspective and emotions related to that thing. Would you want to have a plan in place for the financial support of your child or your spouse during their lifetime in the case that you would not be there? Would you be living easier knowing that you control the financial decisions during any times of incapacity? Would you sleep better knowing exactly how you will be medically treated if you slipped into a coma? If you answered yes to any of those three questions, then a personal approach to estate planning that focuses on the personal benefits of better sleep or increased quality of life will help focus on the more positive emotional aspects of planning. Approximately 40% of the American population has a will; fewer than 40% of Georgians have a will. If you are not inclined to draft a will for yourself, your will or estate plan will be mandated by state law. That is to say, without a will, or a trust-centered estate plan, the state of Georgia will dictate the way in which the assets of your estate are distributed. If you have no immediate relatives, then Georgia may get your all your assets. If you want to give some of your estate to nonrelated friends, without a will, the chances are greatly reduced that your friend will receive what you wanted to give. If you want to maximize the amount of your estate to give and minimize the payment of taxes and fees of administration, a little estate planning will save a lot of pain and money in the future. This Christmas, give to your family and friends in a way that will increase your quality of life now, will later enhance your family and friend’s quality of living, and may even leave behind a legacy that will not be forgotten. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

A Time for Thanks of Family

2007-11-19T18:43:00.005-05:00

A Time for Thanks of Family By Robert S. Meyring, Attorney at Law* Thanksgiving 2007 In light of our upcoming national Thanksgiving holiday, I encourage you to take a moment or more to think about the meaning of Thanksgiving. Why do we have it? For what are we giving thanks? The holiday itself is the result of a collection of different origins and traditions dating back to medieval times in Europe when harvest festivals would be held in local towns usually at the end of September and beginning of October. The festivals were non-religious celebrations of the end of the harvesting season that would often last a few days. During the time our founding New England Pilgrims came to America they repeated the custom in 1621 in some traditional non-religious form and shared a meal and festivities with the Wampanoag Indians. We do know that among early American colonists, days of thanksgiving for different occasions or events would be held, but those thanksgivings were always religious in nature. We actually know very little about the first Thanksgiving celebration in 1621, but it’s speculated that the carryover of the harvesting tradition that was celebrated with Indians was not a religious event. So it’s likely that the Pilgrims’ first Thanksgiving was less religious and more customary. One Hundred and Sixty Eight years later in 1789, President George Washington made a proclamation recommending that Thursday the 26th of November be set aside for the people of the United States for a day of public Thanksgiving and prayer. Washington’s proclamation noted that people should especially give thanks to God for the opportunity to peaceably establish a government for the people’s own “safety and happiness.” It took another 152 years for Thanksgiving to become a national holiday by President Franklin Roosevelt’s recommendation and Congress’s approval in 1941. Though Thanksgiving has become layered with tradition and given a wide variety of secular, religious, and commercial meanings, it can be agreed that the day is generally a time to give thanks for the benefits that one has. We Americans often seem to spend the holiday by laboriously gathering together relatives, by eating a lot of food, and by starting the holiday shopping the following day. I would like to make a simple suggestion: that everyone really try to give thanks for those people in your own family and try to make some effort to show that appreciation. For example, it could be as simple as a note to a relative or you could show your parents or in-laws that you are happy that they are still there, maybe with flowers. People are able to show much more appreciation for flowers while they are alive. You may only have one more chance to tell your estranged brother, sister, parent, child or other relation how much you are thankful for them. Be prepared for strange reactions to your unusual appreciative actions, but such overtures, words, actions and deeds may become the highlights of the family gathering. In the estates practice and in my own extended family, I’ve seen many tense and broken family relations that become regrets and fights at the death of a family member. Every time it seems the root of the family problem could have been avoided, if only the relatives would have given more thanks for their family members when they had the chance. ________ *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is www.willsquill.com.

$12 Million Dollar Dog

2007-10-12T13:05:00.003-04:00

By Robert S. Meyring, Attorney at Law* You may have heard that Leona Helmsley died. As Wikipedia briefs us: “Leona Helmsley (July 4, 1920 – August 20, 2007) was a billionaire New York City hotel operator and real estate investor. She was a flamboyant personality and had a reputation for tyrannical behavior that earned her the nickname "Queen of Mean." The image of Helmsley was sealed when a former housekeeper testified that she heard Helmsley say: "We don't pay taxes. Only the little people pay taxes." She was convicted of federal income tax evasion and other crimes in 1989 and served 19 months in prison, after receiving an initial sentence of 16 years.” Well, at least she loved her dog. How much? Ms. Helmsley created a $12 million dollars trust for her white Maltese dog. The dog’s name is Trouble. Helmsley’s brother, Alvin Rosenthal was appointed as trustee of the dog trust and given control of the money for the dog’s benefit. Alvin is appointed as trustee but he doesn’t really want the job. Trouble, the $12 Million Dollar Dog, requires a lot of maintenance. Remember the $6 Million Dollar Man? Here’s the $12 Million Dollar Dog. Ms. Sfara, employed by Helmsley for several months, in a lawsuit claims that Trouble bit her causing permanent nerve damage. Sfara also told the press "Leona wanted everybody to love her, but she knew nobody loved her…This dog replaced that love." Sfara added that the two would "kiss" frequently. "She would like the dog tongue to tongue. It was unnatural. It was unhealthy." Leona Helmsley left the bulk or her $4 Billion estate to the charitable trust in her name. She left $12 million to Trouble, $10 million to her brother, $5 Million to each of two grandchildren and left nothing for her other two grandchildren. To put it in a rational ratio perspective, if her $4 billion were instead $100 dollars, Ms. Helmsley, through her will and trusts, is spending 30 cents on the dog, giving 25 cents to her brother, and another 25 cents to be shared among two of her four grandchildren – but if the grandchild doesn’t visit their grandfather’s gravesite once a year they lose their half of the 25 cents. The remaining $99.20 will fund the Helmsley Trust which could last for centuries forward and do many good things. One day soon, the Trust will remake her image. I’m thinking the public relations will likely center on the idea of “Nice”. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-200, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@gmail.com . The site on the Web with postings of past articles and helpful information is at http://www.willsquill.com/

Families Rethink Their Estate Plans

2007-10-10T17:22:00.001-04:00

This is a good article published today in the Wall Street Journal by Rachel Emma Silverman. I wholeheartedly agree with the article and I will be giving a seminar on the same subject: the Estate Tax and planning for uncertainty in a Halloween Breakfast Seminar. It's called "When to Throw Mama from the Train" Our firm just published it's first in-house produced GA Estate Planning Newsletter. It has some photos built into the linked pages if you are interested.

What Happens to My Stuff When I’m Gone?

2007-09-16T14:04:00.002-04:00

By Robert S. Meyring*, Attorney at Law Written for Our Town Magazine – A Vinings and Cobb County Georgia monthly publication One of the most popular questions I am asked as an estate planning attorney is, “What happens to my stuff when I die?” “Do my possessions become part of an estate sale?” Another question is, “Do I need to list everything I have, like an inventory?” Others ask how they can make sure selected family members get specifically chosen items or how to make sure that other relatives get nothing. As I help couples or an individual with their estate plan, which includes a will or a trust as the central document in the plan, I ask questions of my clients that help me see how they view their possessions. Some people see what they have and say “Look young man, I am eighty years old and I have accumulated a lot of stuff, including houses at the lake and the ocean, coin collections, art and the like. None of that means anything to me now and I just want the children of my children to equally share from my estate. Let them decide how they will share it.” Others may say, “I do not have much and I have worked hard to get what I have. Here is a full and detailed listing of my possessions and the intended relatives that I want to receive those things.” The good news is that anyone who is writing up their will, with the help of an experienced estates attorney, may choose almost any way in which they want to make gifts to their family members, friends, charities or churches. There are ways to include inventory lists in one’s will, then later change out the items or change the intended beneficiaries on the list without having to re-execute a will. One’s possessions do not need to become part of an estate sale with proper planning. There is not even a need to make a detailed list if the gifting decisions are to be left to the executor. There are pitfalls to avoid with certain possessions that “pass outside of probate” and regardless of what one’s will or trust documents say, the real estate, the insurance money or the investment accounts, for example, may pass to or pay out to the very people that were not intended to receive it. Trying to pass one’s real estate and keep the beach house in the family or to gift it to one particular relative is a lot more complicated than it sounds, especially if the land is outside the state of residence. The not so good news is that there are many reasons why the wishes of the will-signor (or testator) may never be carried out. This may happen when people self-prepare their will from a will preparation program and make elaborate plans for who receives from their estate (defined as the assets and liabilities left by a person at death). Also troublesome are the “simple wills” that address complex situations, sometimes prepared by attorneys that focus their practice mostly on non-estate planning matters. The reasons for plans that go awry may have to do with a disgruntled relative who believes they did not get, in their opinion, what they rightfully deserve. A complaint may be filed on the estate and on closer examination the will is found to be defective for any of a multitude of reasons. A defective will often means that it is a will that is not recognized by the state - meaning that the decedent (the person who died) will be ruled to be intestate and their estate will pass by intestacy. Where the decedent has a defective will and no relatives, all their possessions in their estate may become the property of their state of residence. When a widow or widower with a self-prepared will does not want a son or daughter to receive from their estate, that offspring may knock the estate into intestacy, then receive their parent’s possessions anyway. Making a well thought and effective estate plan that gives your possessions to the intended people is often more complicated than some will have you believe. With proper planning and drafting you will always be able to give your stuff to the people you want and avoid pitfalls, situations of intestacy and maintain family harmony. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

The Trust in Your Estate Plan: What Is It? Do I Need One?

2007-08-05T22:39:00.002-04:00

Originally published in the August 2007 Smyrna-Vinings Bright Side News By Robert S. Meyring, Attorney at Law* Whether a person needs a will or a trust is a complicated question. There are basically two ways in which you can presently organize your estate plan:[1] either with a Last Will and Testament as the central document of the estate plan or with a “Living” Trust as the main document. Only a state-licensed attorney can provide you 1) unbiased advice as to whether a Will or a Living Trust is better for your estate planning objectives and 2) the ability to craft your Wills or Trusts to exactly meet those planning objectives. The market is flooded with Living Trusts and the American population is generally confused about the meaning and use of trusts. This has come about because anybody can give business advice about the use of trusts but, by state law, only attorneys can give legal advice about Wills and how they work together with trusts. It is my hope to equip you with basic facts that will give perspective and insight with your estate planning decisions. Living Trusts are good planning documents if used properly. Most often Testamentary Trusts, created after one’s death, arising out of the Last Will and Testament, are the best for most peoples’ planning needs as they offer the most flexibility and often the least expense. Living Trust marketers cannot tell you whether a Will or a Living Trust is better for you because the Living Trust is all they’ve got to offer. For those considering buying a Living Trust package, there are non-profit websites dedicated to providing information. One such site at www.quatloos.com/traps/livtrust.htm answers the claims of living trust marketers as follows: "Living Trusts will reduce your income taxes."…plainly false. “Living Trusts are cheaper than wills." Wrong, most of the time. “You don't need a will if you have a Living Trust." This is the most common claim, and it is also false. “Living Trusts avoid will controversies." Yes and no, but mostly no. A trust basically is a relationship that is created when one person (“Settlor”) gives money to a second person (“Trustee”) and tells that second person how and when to spend that money on a third person (“Beneficiary”). A trust can either be created during one’s life (hence a “Living” Trust), or a trust can be created after one’s death and arise out of the will (known as a Testamentary Trust.) An estate plan[2], at its simplest, is a plan described in a Will or a Trust that is left behind for your friend or family member executor to follow in order to pay your debts, gather your estate (or the sum of all your possessions and accounts), and distribute your estate as you wish. Though some well known financial planners and trust marketers would tell you the living trust is exactly what you need, I would inject a word of caution as planners that offer only a living trust and do not offer a (home-state or) Georgia-based Last Will and Testament are not qualified to offer you the best advice or answer if a Will or a Trust is the better instrument for your estate planning needs. ____________ [1] If you choose not to have a will or trust, the State of Georgia has an intestate plan in place for the payment, collection and distribution of your estate. Generally, the surviving family gets the estate when there is no will – not the State of Georgia. But, if there is no family and no will or trust, Georgia will get the estate. [2] Some estate plans also include Power of Attorney and Living Will documents to plan for any situations of incapacity. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Law Firm Opening in Vinings, Atlanta

2007-07-21T13:47:00.001-04:00

This post is to Announce and Invite interested neighbors and friends to:

the OPENING CEREMONY and SHINGLE-HANGING for

the Law Offices of

Robert S. Meyring, P.C.

Attorney at Law

Please join us

7:30 a.m., Monday July 30, 2007

in the Vinings Square courtyard at

2900 Paces Ferry Road (map)

for coffee, bagels and breads

provided by local shops

and

for 8:00 a.m. presentation of Attorney's Shingle

by Frank Smith, owner of Soho and

Chairman of the Vinings Business Association.

For more information call,

678-217-4369

or email:

meyring@gmail.com

Robert S. Meyring, P.C., Attorney at Law

2900 Paces Ferry Rd., Ste. C-200

Atlanta, Georgia 30339

* Robert S. Meyring, an Emory attorney practicing and living in the heart of Vinings. "It should be easier for people to get a will or make changes to an estate plan, easier to get trusts, advance directives and powers of attorney - that is "to get" both access to and understanding of the process. I've attempted to make the process easier for my clients through email, phone, and fax - often requiring only one visit for signing documents." Mr. Meyring practices estate planning, litigation and related general practice matters serving greater Atlanta and Georgians as the offices of Robert S. Meyring, P.C., Attorney at Law. His office in Vinings is at 2900 Paces Ferry Road, Ste. C-200, Atlanta, Georgia 30339; phone is 678-217-4369; fax 770-783-6585; email: meyring@gmail.com . Please visit his site on the Web with postings of past articles and free, helpful information at http://www.willslaw.blogspot.com/ .

Where is Terri Schiavo?

2007-07-01T20:30:00.002-04:00

Originally published in the July 2007 Smyrna-Vinings Bright Side News By Robert S. Meyring, Attorney at Law* In the past, I have written on the subject of the late Ms. Schiavo and how she and her family’s plight was thrust into the national spotlight. Now that we have had a couple of years since the Schiavo saga, I want to turn your attention back to the malaise that gripped the nation, the Congress and a great number of interest groups. The Schiavo saga was one of the biggest stories to come out of 2005. It is only with some distance of time that any meaningful perspective can be had from historical events. In the lyric words of a folk rock group called Toad The Wet Sprocket: “[It is] weird when you get close to something that big, you can’t see anything at all...” It is my theory that Ms. Schiavo’s name and story have entered the national subconscious and in a way, she will always be with us. For example, I have noticed that people often react with a flinch or grimace when Terri Schiavo’s name is mentioned. I’ve found that if her name is spoken, personal opinions sometimes follow. The most common expressions I’ve observed are dismay, disgust and the desire to not to become like Terri. In the estate planning practice the words Terri Schiavo are sometimes necessarily used to illustrate what can happen to anyone who does not have a living will. When her name is spoken to clients, there is an instant understanding of the basic issues behind her saga. Her name is still a very hot topic, even though she died over two years ago. I Google-searched her last name which returned 4.7 million results. I looked at some of the top results and found them a little scary. There were many weblogs and articles, cussing and opinions, and far fewer facts than there were fervent fictions. To give proper credit, there were a few weblogs and websites that did focus on facts and gave no speculations or opinions at all. I Googled her name as “Schiavoed” – a form of her name I have heard before – and received 888 search results. The same search two days later returned 906 results. (Try it and look at the results. You will surely have some reaction.) My guess is that her name will eventually become part of the American-English language and the number of results on Google for her verb will increase exponentially over time. Some good has come out of the Schiavo ordeal. Many more people now understand what a living will is.[1] As a result, more people now have living wills than before and, even though the living will issues may be personally difficult to deal with, people are finding that the document itself can be rather inexpensive[2] and straightforward. [1] A legal document that expresses an individual’s decision on the use of artificial life support systems. [2] Keep in mind, it is a legal document, so don’t be lured by the promise of a free dinner from a roving marketer. Rather, an attorney will listen to your wishes and will draft a living will to meet your goals. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/. ***Author's Post Script and Correction 7.24.07*** After stating above that Ms. Schiavo is still a hot topic, my brother pointed out that Google found that interest in Schiavo, measured by searches, dropped off soon after her death. Though, if "hot" was replaced with "sore" it'd be true. Google has no sore-meter.

Avoiding Probate: Right or Wrong?

2007-06-01T12:00:00.002-04:00

By Robert S. Meyring* Attorney at Law Originally published in June 2007 edition of Smyrna-Vinings BrightSide News It is likely you have heard that you should “avoid probate.” What does that mean? Why have you heard it before? And should you really avoid probate? First, probate is the legal process that occurs after someone dies. The process includes proving the validity of the decedent’s[1] will in court, paying the decedent’s debts, collecting all assets and distributing the assets as directed in the will. Whether or not you should avoid probate is a complicated question that depends on many factors like age, net worth, health, need for privacy and family issues. But, as a Georgia practicing estates attorney, I can make it a lot simpler: in most all cases avoiding probate is unnecessary and more expensive than not. Georgia has a very good, inexpensive and rather efficient probate system. The judges, attorneys, clerks and staff who operate the probate courts are very helpful, compassionate people who work daily with families who have lost relatives and friends. The Georgia probate courts make available a lot of helpful information that you may access for free at http://www.gaprobate.org/ . You can call your county’s probate court and ask for instructions, informational brochures or forms if you cannot get it through the website. The probate system gets a bad rap because they do not have billions of dollars to spend to market their services to you. The probate court is there to serve you and your family; they do not make a profit. By contrast, every marketing seller of products such as the revocable living trust or other non-will devices and schemes must tell you that you that probate is a scary process and that lawyers will eat up the inheritance or they won’t get your business. Most often these sellers do not tailor their products to Georgia[2] and that may result in a failed probate-avoidance scheme, which will throw a person’s estate into intestacy – and into the probate court anyway. The probate court does require the executor to work with an attorney, but the reason is for the protection of the decedent’s estate and for those who would receive from it. The probate court is the place where the penniless disinherited surviving spouse, can and has the right to ask for a portion of the estate. It is also the place where anyone with a claim against the decedent may assert that claim against the estate. You may not want someone to assert a claim against your estate – but wouldn’t you want to be paid back if you lent someone money then they died? If you do have a probate-avoidance plan in place, then you are already sold and it must be the right plan for you. Setting up such a plan and maintaining it is often costly and even more so if the plan fails to work. Setting up a will is usually less expensive and if you use an attorney, you will have access to a professional who knows how to navigate the probate laws and the courts. [1] One who passes away, expires, dies, etc. is a decedent. [2] Every state, including Georgia, has its own set of laws that govern how wills and estates are handled. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Throw Mama From The Train??

2007-05-15T14:09:00.002-04:00

By: Robert S. Meyring*, Attorney at Law Originally published in May 2007 edition of Smyrna-Vinings BrightSide News Some people inherit large sums of money, others give away millions in their wills and most people will neither receive nor give away amounts in the millions. As Americans, we like to think that, even if the chance is small, each person may have the capability to make millions or receive millions, even if by insurance, Lotto or inheritance. Fortunes can change quickly and this column may apply to you in the years to come if not now. In 2001 Congress passed a tax law informally known among estate planners as the “Throw Mama from the Train Act of 2001.” Officially named the Economic Growth and Tax Relief Reconciliation Act of 2001, this tax code revision repeals the estate tax – or “death tax” – for one year. In the world of black humor the throwing train reference cynically points to the fact that the children of wealthy parents will get all of their inheritance with no estate tax to pay if the parent dies in 2010. With the same dark humor Jane Bryant Quinn, syndicated financial columnist, commented in Newsweek on the Act, “In 2010, ailing parents will keep their bedroom doors locked when their children are in the house. It’s going to be a great year to die.” No one knows what will happen to the estate tax law in 2011: if Congress will enact a return of the estate tax with some personal exemption, or if Congress will leave it repealed temporarily. Most planners expect the estate tax to return in some form. No one expects the IRS to let go of such a good tax revenue base like the estate tax. My new site at http://www.willslaw.blogspot.com/ has the extended version of this column with more detail and examples. What’s one to do in this time of uncertainty? Be flexible. Use the available trust devices and estate planning instruments that prepare for the upcoming estate tax changes. Review your will with an estates attorney. Talk with your financial planner. It’s likely a little planning now could save millions in the future. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

What’s the Deal with Living Trusts?

2007-04-01T14:05:00.002-04:00

By: Robert S. Meyring*, Attorney at Law Originally published in April 2007 edition of Smyrna-Vinings BrightSide News. There has been much confusion I have observed stemming from the complex realities of estate planning matters and the oversimplification of those issues by seminars, internet sites and even by some of America’s most popular financial planners. The impression I get from participants (including my parents) at such seminars is that a well-crafted presentation aggressively promotes a narrowly-prescribed package of estate planning documents featuring the living trust in a “one-size-fits-all” approach. Moreover, New York’s Attorney General Andrew Cuomo states: “High pressure sales pitches for living trusts are surfacing across the country. Unscrupulous living trust salespeople charge elderly consumers thousands of dollars for what amounts to a set of pre-printed legal forms.” Some people believe that setting up a revocable trust avoids taxes – but it doesn't. In a revocable living trust, the trust-maker – or testator – sets up and transfers assets to the trust and often names themselves as the trust-administrator – or trustee. Since the testator has control of the assets, those assets will continue to be considered for income taxes, capital gains taxes, and estate taxes. The marketing behind the living trusts’ growing popularity emphasizes among other advantages that this kind of trust is easy, it avoids probate, it distributes assets as intended, and it keeps decisions private. I respond that those claims are only true, sometimes. “Living trust salespeople often overstate the cost of probate and the length of time it takes to probate a simple will,” states New York’s Attorney General. I will explain more in future columns why the marketing claims are true only sometimes. I ask that in the meantime if you must buy estate plan documents from a salesperson in lieu of consultation with an estate planner, please thoroughly conduct independent research, for you may get just what you paid for, or less. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Trusts, Trustees and Beneficiaries

2007-02-01T14:03:00.002-05:00

By: Robert S. Meyring* Attorney at Law Originally published in February 2007 edition of Smyrna-Vinings BrightSide News. Several unmarried and childless clients who have accumulated a fair amount of assets and money have approached me asking, “How do I use trusts in my estate plan to benefit various members of my family?” Often the situation may deal with a number of nephews and nieces or other family members to whom the client wants to give an inheritance. One difficult issue has to do with striking a balance between benefiting young recipients of the gift without discouraging them from earning their own support. Other issues may relate to deciding who to appoint as trustee to oversee distributions or how to best benefit all relations equally or to benefit some and not others. First, the trustee who holds the assets and money of the trust for the nephew, niece or beneficiary will need to be someone who the client trusts. Often the client, or “trust-maker” chooses their (trusted) brother or sister to oversee the administration of the trust according to the rules and guidelines set out by the client. When dealing with larger sums naming an institutional trustee, like the trust department of a bank, is usually recommended. Some clients name their favorite family relations as beneficiaries and leave out the less favored – and that’s ok too. Keep in mind, the money put into the trust is that of the trust-maker and they should feel free to have a trustee distribute it as unequally as they see fit. Trusts are private and may be created through the instructions found in the will or may be created independent of the will. Those relations who are not benefited by the trust often will not know until after the trust-maker is gone – unless informed by the trust-maker. The ways in which the assets in a trust may be distributed are virtually unlimited. The beneficiary may receive large chunks of money when they turn 21, 25 and 30 years old, or may receive monthly income, or may have an option to remove money to start a business, buy a home or get married. The trust-maker must evaluate how to best balance helping without discouraging the beneficiary. The decisions may be difficult, but with information and guidance from an advisor it can be easier. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Executor and Trustee

2007-01-01T14:00:00.002-05:00

By: Robert S. Meyring* Attorney at Law Originally published in January 2007 edition of Smyrna-Vinings BrightSide News. What is the difference between an executor and a trustee as used in wills and estate planning? An executor is one who carries out the instructions and directives in the will. The executor is named in the will, chosen by the surviving family or appointed by a probate court if needed. When there is no will (called intestacy), there is no executor. Instead the person who would oversee the handling and distribution of property from the intestate estate is called an administrator. You could say the administrator does the same activities as the executor, just without the will instructions. A trustee is a person or institution appointed to hold and distribute your money or property for the benefit of another according to your instructions. For example, a will can say: “Half of my money shall be paid to my brother Jim to hold for the benefit of my children and to be paid in equal shares to each of my children when they reach 21 years of age.” Trusts like this are often written into the wills of spouses with young children. Jim is the trustee here. The quoted instructions are directed at the executor who may or may not be Jim. If the creation of a trust arises from a will, an executor is often the one to set it up. Trustees must be willing or compensated. Trusts must have property or money to distribute. In future columns we will discuss trusts in more detail. I will show that trusts are one of the most versatile tools for estate planning, for management of assets or for the current assistance or protection of your loved ones. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Give and Write Your Own History

2006-08-01T13:55:00.001-04:00

By: Robert S. Meyring*, Attorney at Law Originally published in August 2006 edition of Smyrna-Vinings BrightSide News Being a younger child in a large family, I often heard of the exciting adventures of my older brothers but was usually unable to participate. So was the case on a visit to our grandparents’ home. My eldest brothers found a room full of treasures in a forbidden part of his house - they told me about it but I never got to see it. My grandfather was a well known attorney with a general practice and a distinguished career. Over the years he had accumulated a number of collectibles and gifts. Some were art pieces, some were antiques, and some were made with precious metals or jewels. My grandfather had remarried while his son, my father, was still a child. While growing up, all I happily understood was that I had an extra grandmother. It was not until after my grandfather’s death that I fully understood that he had another family: a step-family with step-sons and daughters-in-law and grandchildren. At the time of my grandfather’s passing he had a number of possessions: real estate and personal items (including that room full of treasures). He had a will that gave most everything to his widow. Decisions to give particular possessions or properties to his two sons or his natural grandchildren were left to his widow, my step-grandmother. My step-grandmother’s sons went through my grandfather’s house and claimed collectibles, diplomas, jewelry, clothes, and other items of their liking. A few residual items were distributed to us grandchildren: a grooming set, a flip-top telephone directory, a well-used leather brief case, and a few suits. These items are now gone. No mementoes and no treasures from the mysterious room were ever passed down through our family. Shortly after my step-grandmother’s passing, I saw one of my grandfather’s paintings in an auction catalog. Through a recent, but unsuccessful attempt to obtain my grandfather’s law school diploma, I learned that it was - and still is - stored in a box in the house of my step-grandmother’s son. It is often the case that a step-family receives and benefits more from a decedent’s1 estate and the first-marriage family benefits less. It could be that it is the decedent’s intent not to benefit the first-marriage family. Often what is known about a decedent’s intent relating to who gets what, is only what is written into the will. Sentimental items, heirlooms and specific gifts will not be passed to the specific person or people intended unless these items are referred to or specified in the will. If the will says “give everything to my widow and she will distribute it to my offspring,” only the first five words will have an effect and the offspring may get nothing. The message to anyone who is thinking of writing, rewriting, modifying or reviewing your will is this: In the end, the will maker (and later, the decedent) will leave behind memories and possessions with their family and friends. It is in the making of the will that you can write the history and legacy you will leave behind. When the gift received is a lens through which a descendent can view their ancestor, the value of that gift will far exceed the price, and the effect of the giving may last for generations. 1Decedent - one who passes away. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Wills and Estate Planning: Helpful Tips

2006-07-01T12:53:00.001-04:00

By: Robert S. Meyring* Attorney at Law Originally published in July 2006 edition of Smyrna-Vinings BrightSide News In this month’s column I want to give some general information about wills and estate planning related items that may be helpful: The basic purposes of a will are to pay off the debts of the decedent (the term for the one who passed away) and to give away the decedent’s real estate and personal property. A decedent’s estate is the total sum of that person’s personal, intangible and real estate possessions. When a person does not have a will then passes away, that is called intestacy. In that case, the probate code of decedent’s resident state will determine the distribution of the estate. An administrator handles the estate of an intestate decedent. An executor is the person named in a will that handles the estate of the decedent. An heir receives or inherits from an intestate estate. A beneficiary or a devisee receives from a testate estate or an estate that has a will. When a decedent has more debts than possessions, generally the creditors to whom the decedent owes money will be paid off proportionately before the heirs or the named beneficiaries receive. The exception is the Year’s Support which is a permanent award of property to the decedent’s spouse or unmarried minor children. Year’s support must be applied for through petition of the county’s probate court. It’s usually awarded and usually cannot be attacked by creditors. In Georgia anyone 14 years of age or older who can rationally state their wishes and put it into a permanent form with the intent to give away their property can make a will. For a will to be effective it must be properly signed by the will maker and witnessed. The formalities are very specific. This is often where the will becomes flawed and later where the estate passes by way of intestacy. A will and estate plan should be reviewed every few years to be sure that it still meets the wishes of the person who made the will. For example, if one’s assets are to be distributed to specifically named children and then the family grows by new births or remarriage, the new arrivals will be left out. Specific changes in a will often may be addressed by adding a simple codicil to the will rather than a complete redraft of the will. The codicil is an amendment to the will that must be properly signed and witnessed with the same formalities required of the will. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Will Making the Safe Way

2006-04-01T12:40:00.001-05:00

By: Robert S. Meyring* Attorney at Law Originally published in April 2006 edition of Smyrna-Vinings BrightSide News When making a will or undertaking the creation of an estate plan, go to a professional who will help you best: one who is bound by standards of honesty and professional conduct stricter than the law; one that knows the laws of the state that will affect your will; one who will be there to answer your questions and is solely dedicated to the preparation of estate plans. That professional is the wills, trusts and estates lawyer. This is the only professional who can assure that your estate planning documents comply with the Georgia and Federal laws that controls how your estate plan is handled. When paying for a will or estate plan prepared by a lawyer you are getting more than just documents. You are getting an education in estate planning, a coordinated plan keyed to your goals, and you get a counselor who is a member of the community that will be there for you during and after the preparation of your plan. Individuals can make their own wills with forms bought from office supply stores or downloaded from the internet. The most common problem of the self-prepared estate plans are defects in the will that cause it to be invalid and the decedent’s estate to pass by intestacy. As simple as signing the will incorrectly or as complicated as an elaborate estate tax saving plan that is outdated, a fatal defect can invalidate all the intentions of the will-maker and at a minimum can cost unexpected time and money. Many companies that handle investments, insurance, finance or other matters also offer wills and estates services. In particular, be wary of the living-trust-will-form sellers. Often preying on seniors, the sales tactics are high-pressured and the salespeople give more promises than can be delivered. My parents were almost victimized by a forms salesman selling living trusts and a package of forms with a basket of promises – for only $2,000! On his second visit when my parents said they had spoken with their lawyer son about the package, the salesman immediately got angry and left within minutes. Both of their wills and complete estate plans were prepared by a dedicated lawyer in their state for well under half of the salesman’s price. Well worth it, and we all rest a bit easier. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Will or Living Will?

2006-03-01T12:48:00.001-05:00

By: Robert S. Meyring* Attorney at Law Originally published in March 2006 edition of Smyrna-Vinings BrightSide News Occasionally, a client tells me that they want a living will. Then the client starts speaking of personal items they want to give away and the people to whom they want to give it. Then, I stop them and say, “You are talking about a will. Not a living will.” Then they ask, “What’s the difference?” And I respond, “I’m glad you asked.” I tell them that the will is a document that gives directions on how to give away all of your possessions to other people. The will speaks when you cannot. The goals of a will are to give away everything, to give it to the exact people you want - so there are no fights, and to do it in a way that puts more of your stuff in the hands of your loved ones and less in the hands of Uncle Sam. The living will also gives directions and speaks when you cannot. The big difference is that the living will is used when you are still alive - hence, the name. A living will is a document that tells a doctor, hospital or caregiver how you want to be treated if you are very sick or injured and cannot communicate with others. A living will answers the question: How far do I want the healthcare provider to go to keep me alive? If you think of the Terry Schiavo case and know that she was kept alive for 15 years with a feeding tube, you may get some idea of how far healthcare can go. The best and most comical example I have seen of a client trying to figure out how to complete his living will was on the TV sitcom Seinfeld. Kramer asks Elaine to go to his lawyer’s office to help him make decisions. The lawyer played by Ben Stein - who is an actual lawyer - asks Kramer questions about conditions under which Kramer would want to be taken off of life support. When asked one very tough question, Kramer nervously asks Elaine if he should “pull the plug.” Elaine happily answers: “Pull it like you’re starting a lawnmower!” Though funny, Kramer’s nerves symbolize the very real discomfort some people feel when putting together a will or living will. But just ask those who have one. It’s not that bad and you’ll feel a lot better when it’s done. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.

Death, Taxes and History

2006-03-01T12:35:00.001-05:00

By: Robert S. Meyring* Attorney at Law Originally published in March 2006 edition of Smyrna-Vinings BrightSide News. It was Benjamin Franklin who, in a letter to a friend said: “The only certain things in life are death and taxes.” Yet, less than half of adult Americans are fully prepared for that eventuality. A recent survey found that only 42% of Americans have a standard will and even fewer (31%) have a living will or medical directives. A will is usually the first document in an estate plan. An estate plan not only directs your property (all possessions of value) to where you want it to go, but it can relieve your family of the burdens of making difficult financial and medical decisions for you if you’re physically or mentally unable to do so. An estate plan may be as simple as just a will itself, or it may consist of added parts including, powers of attorney, a living will and trusts. Often the time and expense to make an estate plan are minimal. The benefits of having an estate plan far outweighing the present cost. Tax advantages, control over one’s property, and peace of mind are just a few of those benefits. With a living will or medical directives Terry Schiavo and her family’s problems would never have entered the national spotlight. Like many families, they were not prepared for the unexpected. Her decisions about her own healthcare could have been recorded in a living will, but were not. Like with the Schiavos, there is often conflict among family members and loved ones trying to make life and death decisions during times of high stress. Notably, both Presidents George W. Bush and Bill Clinton will turn 60 later this year, marking 2006 as the first year Baby Boomers will begin reaching retirement age. As Boomers swell the ranks of the retired, there will be an increase in the number of people who need estate planning. But it’s not only for Boomers: 25% of people with estate plans said that the arrival of children was the main reason for making a plan. Marriage, divorce, and significant changes in income are all reasons to create or update an estate plan. Wills and estate plans are powerful tools that enable you to make the decisions affecting you, your property and your family. Benjamin Franklin had an estate plan. It was with the power of a will that Founding Father Franklin disinherited his son for remaining loyal to the British Crown. *Robert S. Meyring is an Emory attorney practicing and living in the heart of Vinings. Mr. Meyring's law office provides legal counsel in estate planning, litigation and related general practice matters, serving greater Atlanta and Georgians as the Offices of Robert S. Meyring, P.C., Attorney at Law. His office is located at 2900 Paces Ferry Road, Suite C-2000, Atlanta, Georgia 30339; phone: 678-217-4369; fax: 770-783-6585; email: meyring@willsquill.com . The site on the Web, with postings of informative articles, slide shows, and helpful planning tools from the Meyring Firm, is http://www.willsquill.com/.