Imagine the following scenario: A man creates a trust with a do-it-yourself form he found on the internet. He names himself trustee and names his wife and children as beneficiaries of the trust. He walks into his local bank, hands the bank manager the trust agreement, and the bank happily creates a trust account for …
What Happens When a Trust Fails to Name a Successor Trustee? Read More »
Probating a will in solemn form requires providing notice to all of the heirs of the testator (see O.C.G.A. § 53-5-22). If the heirs’ addresses are known and they are cooperative, then the fastest (and cheapest) way for a petitioner to satisfy notice is by having the heirs sign the “Acknowledgement of Service and Assent …
Probate in Solemn Form: Providing Heirs with Notice Read More »
Is a non-compete covenant without any reference to a geographic limitation enforceable under Georgia law? Probably not. To understand why, we must first turn to Georgia statutory law. O.C.G.A. § 13-8-53(a) only enforces non-compete covenants that are “reasonable in time, geographic area, and scope of prohibited activities.” O.C.G.A. § 13-8-53(c)(2) states that a geographic area …
Non-Compete Agreements: Covenant without a Geographic Limitation Read More »
Are non-refundable deposits and late fees enforceable under Georgia contract law? The answer depends on whether they are liquidated damages or a penalty. Liquidated damages are enforceable. Penalties are not. What are liquidated damages? Liquidated damages are damages resulting from a breach of contract which are specified as a stipulated sum. Georgia courts err on …
Non-Refundable Deposits and Late Fees: Unenforceable Contract Penalty? Read More »
