Legal Question in Wills and Trusts in Georgia

Re: Daughters Right

First of all, a living will deals with termination of life support, not with inheritance.

Second, a will does not override insurance, but a good lawyer will help you coordinate the two.

You need to sit down with a lawyer who can get details and advise you. A good starting point is our free will worksheet at www.glenashman.com .

Re: Daughters Right

First, "living wills" have nothing to do with inheritance--they only concern health care decisions.

A true last will and testament does not control either life insurance or retirement accounts such as 401(k)'s. These assets are controlled by a "beneficiary designation". If you are not sure what designation you have made, consult your insurance agent and your HR director, who should have records of what beneficiaries you have named.

There is no limit whatever on what you can leave your daughter, either under your will or through insurance or a retirement plan. She could receive the cars, and keep or sell them. The loans could be paid by her (from insurance or 401(k)) or she could demand that your executor pay off the loans from your bank accounts.

You clearly need to consult an attorney on all these matters, who can advise you on what arrangements you can make for your daughter.

Re: Daughters Right

I think you are confusing two entirely different things. A "living will" has only to do with termination of life suppport and nothing to do with property. That is where a "will" comes in. Generally, life insurance proceeds are determined by the policy. However, you should consult with a local attorney because the fine print may direct the proceeds to your estate, in which case your will is the determining document.