By understanding the purpose of each document provides the client with a clear prospective of their current needs, enable them to evaluate their assets, liabilities, and overall financial position when determining the most appropriate solutions. Because every individual and family has unique circumstances and goals, there is no one size fits all solution. King Professional Services conducts a personalized, case-by-case assessment to identify each clients' specific needs.

Some of the documents are used while the grantor is alive and others after death.

What is the purpose of the document?

1. Last Will and Testament & Pour-over Will - is a legal document that outlines how a person (grantor/testator) wants their assets and property should be distributed after their death. To name beneficiaries, appoint an executor to manage the estate, designate guardians for minor children, and provide instructions administering the estate. Written instructions to carry out the last wishes of the testator, reduce potential disputes during a stressful time of grief. A Will alone does not avoid probate court, a costly and time-consuming process for family. The court will make the decisions. This document is valid after death and must be witnessed by two unrelated individuals and notarized.
2. Power of Attorney (POA) - is a legal document that allows the principal person to assign an agent or attorney, to act on their behalf in financial, legal, business, or personal matters. The authority granted can be broad or limited depending on the terms of the document, either effectively immediately or under specific circumstances. This document is valid while alive and must be notarized. The POA can be provided as proof along with the death certificate to some authorities after death such as their financial institutions (if listed as a beneficiary on the account, joint account or POD is in place, morgue, etc.
   1. Financial POA - a legal document that specifies what your agent is legally authorized to manage of your money, property, handle your bills, manage bank accounts, file taxes, and sell or rent real state when you're unable to handle these responsibilities.
   2. Health Directive POA- a legal document that specifies what your agent is authorized to manage in regard to your health medical decisions in the event you become incapacitated only. 
      • HIPPA Authorization form - a formal written document that gives your healthcare provider permission to share your Protected Health Information (PHI) with third parties in the event you become incapacitated. Required to share medical records that falls outside routine treatment, payment, or healthcare operations.
   3. Durable POA - a legal document that overrides a financial POA immediately if you become mentally and physically incapacitated without interrupted authority.
3.  Living Trust - is a legal document created while you're alive to place your assets into a managed trust for a seamless transfer to your heir after you pass to bypass a long, public, and expensive court process known as probate. A trust involves three roles to be filled, the grantor, trustee, and successor trustee 
   1. Revocable - bypass Probate
   2. Irrevocable - 
4. Transfer on Death Deed - must be recorded with the County's Cleark of Superior Court office where the property is located for a small fee $25 -$50 using a debit/credit card online or in person (I suggest in person). The Georgia Transfer on Death Deed must be self-drafted, witnessed by one individual, and notarized before taking it to the clerk's office. The deed must be recorded while the person is alive and when deceased, the beneficiary listed on the TODD has within 90-days from date of death to file an affidavit in that same county. Note: when it asks for the property description, it must appear the same as on the original deed.
5. Affidavit of Survivorship - a legal document used to transfer full ownership of jointly owned property to the surviving co-owner already listed on the original deed at closing (sell of property) papers to avoid probate. This removes the deceased person's name from the property title and informs the county, lenders, and title companies that the survivor is now the sole owner. You will need a copy of the death certificate. Note: when it asks for the property description, it must appear the same as on the original deed.
6. Business Exit Strategy Plan - same documents as above accept applies to business ownership of finances and property.

Note: The beneficiaries placed on accounts and documents override a WILL