The Swiss Army Knife for Your Life.

One Swiss Army Knife* has two blades; the ads say this knife is so thin that you can use it for a tie-clip. (But how many people wear ties when they’re roughing it?)

On the other side, one Swiss Army Knife has 38 blades, tools, and doodads.  A hole in one blade is designed to help you get thread through a sewing needle’s eye. There are separate blades for stripping, scaling, scraping and snap shackling. Hang this Knife on your belt and you’ll walk lopsided. 

Between the smallest and biggest Knife, you could order lots of things. 

Until recently, though, no Knife contained the blades and tools to help fix key legal things which were signed in the past, and are in your way now.  

So if someone isn’t “with it,” but something innocuous needs changing, you’d have to hire a lawyer, file a suit, and hope for the best. And if words like “irrevocable” were used, you might be really stuck.

Georgia does now have a Swiss Army Knife for key legal things. You have to activate it with a particular document; it’s not automatic.  Specific features need authorization. But the blades in this Knife will work wonders.

Consider, for example, the Trust-Carving Blade in your new GaLaw Swiss Army Knife.

This Blade lets you fillet the pages in a trust which you thought were really important, Sure, you scanned them and think “Well, they look okay.” They’re probably not.

Example: in 2002, under certain trust language, a spouse would have received $1 million. In 2019, that language leaves the spouse zero while  the children got the $1 million. What changed? Not the trust language; it was the law that changed.  

Can’t you fix it now? If you’re in the hospital or rehab, well, it’s too late baby, it’s much too late.

But if you had activated the new GaLaw Swiss Army Knife, your trusted friend pulls out the Trust Carving Blade, and can make the fix. Quickly. Legally. 

You could not have done this before.  Now, though, Georgia Law says you can, if you have that Blade in your documents.

How about the Wrong Beneficiary Blade in your new Swiss Army Knife?

Uh oh.  You learn too late that Momma named her estate as beneficiary of her Retirement Plan and IRA, exactly the wrong thing to do. And Momma’s not here (literally or figuratively).  

Will everyone have to eat the unnecessary income taxes? No, you pull out the Wrong Beneficiary Blade from your new Knife, and quickly, legally, you correct the beneficiary designations. 

You can do this because you got Momma to give you that Blade before she went away.

The Electronic Corkscrew is a handy tool in the new Knife’s Blades.

“I’m sorry,” says the voice you’ve waited two hours to talk to. “You can’t read his emails where he cancelled his homeowner’s insurance and waived winning the lottery.”  

But you say, “I’m sitting here with the Electronic Corkscrew on the  GaLaw Swiss Army Knife he had signed.  It authorized my accessing all of his electronic communications. I’m sending you a picture right now. And please connect me with your supervisor.”  

The bottom line: the GaLaw Swiss Army Knife is really the new Financial Power of Attorney. You can authorize things to be done which couldn’t be done before, easily and without going to court.  

But like the proverbial “You can’t win the lottery without buying a ticket,” you – and your parents, and others –have to design and then sign the new document.  

It’s time to choose your blades.


*Victorinox is the owner of the name. 

Five Trusts You Do (or Maybe Don’t) Need

piggy bankWe get asked a lot about Trusts, so here’s some gospel. There is no single do-it-all, one-size-fits-all Trust. Each is perfect for some situations, perfectly awful for others. A book about trusts in our library is 855 pages long, and that’s not enough to cover all the types, so the book comes with a CD of trust material, too.

Anyway, here’s the quick guide to the most common ones – and a generic snapshot of why each might or might not be right for you. Read more