BUSINESS OWNER PLANNING
A will does not transfer a Georgia business outside of probate — it instructs the court to eventually transfer it after a 9-to-18-month proceeding. During that time, the business operates without authorized management, loses clients and personnel, and arrives at distribution worth less than it was at death. Five specific problems make a will an incomplete tool for any Georgia business owner.
Find Out Where You Stand
Most Georgia business owners who have a will believe they have planned for the transfer of their business. The will names a beneficiary. The beneficiary is someone they trust. The plan seems clear.
The problem is what happens between the date of death and the date the beneficiary actually receives the business. That gap — 9 to 18 months, in court, with no authorized management — is what the will cannot address and what destroys the value of the business the will was supposed to transfer.
This is the fundamental problem. A will is a set of instructions to the Probate Court. It tells the court who should receive the deceased owner’s property after the court reviews the estate, pays creditors, and approves the distribution.
A will does not transfer property directly. It does not give the named beneficiary the business interest on the day of death. It instructs the court to eventually transfer the interest — after a probate proceeding that takes 9 to 18 months, costs $30,000 to $70,000 in attorney and executor fees, and requires the business to operate without clear legal authority throughout.
A business owner who leaves their LLC interest through a will is not protecting their business from probate. They are guaranteeing it goes through probate.
A will takes effect only at death. It provides no authority, no direction, and no protection during a period of incapacity — which statistically affects more business owners before retirement age than death does.
If the owner has a stroke, suffers a serious accident, or develops a cognitive condition while still alive, the will does nothing. The business has no authorized decision-maker. The only legal path is a guardianship or conservatorship proceeding that takes 3 to 6 months and costs $5,000 to $15,000. See what happens when a Georgia business owner becomes incapacitated.
For most asset types, a 9-to-18-month probate timeline is inconvenient but survivable. A family home sits empty; investment accounts are frozen; bank accounts are unavailable. These assets do not deteriorate from neglect.
A business is different. A business loses value every month it operates without authorized leadership. Client relationships erode. Key employees leave. Vendor contracts lapse. The business that emerges from probate 18 months later is worth significantly less than the business at the time of the owner’s death.
A will cannot accelerate the probate timeline. The creditor claim period alone is a minimum of 3 months under Georgia law. The notice and hearing requirements for Letters Testamentary take 6 to 12 weeks. These timelines are set by statute and cannot be waived by the terms of the will.
A will can name an executor to manage the estate. It can direct who receives the business interest at the end of probate. What it cannot do is give someone authority to manage the business during the 9-to-18-month proceeding.
The executor has authority over estate assets — the ability to inventory, maintain, and eventually distribute the business interest. The executor does not automatically have authority to operate the business, sign client contracts, hire or terminate employees, or make strategic decisions during the proceeding. Those decisions require either authority granted in the operating agreement or a court order. Most operating agreements grant no such authority to an executor.
Many business owners hold life insurance policies on themselves to fund buy-sell agreements or provide liquidity to the estate. They name beneficiaries directly on those policies.
A will does not control assets with named beneficiaries. The life insurance goes to whoever is named on the policy, regardless of what the will says. If the beneficiary designation is outdated — naming a former spouse, a deceased parent, or simply “my estate” — the will cannot fix it. The proceeds go where the designation says, not where the will says.
This matters specifically for buy-sell funding: if the insurance is supposed to fund a buyout of the deceased owner’s interest, but the beneficiary designation directs the proceeds to the estate instead of the surviving owners, the buyout cannot be completed as planned.
A revocable living trust transfers the LLC membership interest to the successor trustee from day one — no probate, no court, no waiting period. The successor trustee has authority immediately. The business continues without interruption.
A business owner does not choose between a will and a trust — they need both. The trust transfers the business. The will catches anything the trust did not reach. See revocable trust vs. will for a Georgia business owner for how the two documents work together and what each one does that the other cannot.
The complete succession plan costs $8,000 to $10,000. See the full pricing breakdown.
HOW IT WORKS
We walk through exactly how your business transfers under your current documents — will, operating agreement, beneficiary designations. You get a specific picture of what the transfer looks like and where the gaps are.
We draft the revocable trust, operating agreement amendment, and coordinated pour-over will. The trust handles the business transfer. The will catches anything the trust did not reach. Both are coordinated from the start.
The LLC interest is assigned to the trust. The operating agreement is amended. Beneficiary designations are reviewed and updated. From that point, the business transfers from day one — not after 9 to 18 months in court.
Georgia Estate Planning Attorney
Melissa Breyer is a Georgia-licensed estate planning attorney focused exclusively on trust-based planning for individuals and families. She personally meets with every client and designs every plan from scratch. No templates. No associates handling your case. Every plan is built for your specific family, your specific assets, and your specific wishes.
111+ Five-Star Google Reviews
The whole process of creating a family trust felt simple, clear, and stress-free. We really appreciated how patient, helpful, and easy to communicate with the team was throughout everything. Shawn and Melissa gave us great guidance and helped us feel confident every step of the way. We're grateful for their support and would definitely recommend them.
After my father passed away, my mother had to rely on my father's employer to navigate the estate. It was a disaster. After this experience, I knew I needed a plan. I turned to Atlanta Estate Planning Attorneys to set up a trust. I no longer have to worry about my wife and children going through a difficult process if something happens to me. I highly recommend Atlanta Estate Planning Attorneys!
My biggest fear was that if I died first, my wife would have no idea how to navigate the estate and legal system. I reached out to Atlanta Estate Planning Attorneys and they put my mind at ease immediately. Their process is easy to follow and they took care of everything. Atlanta Estate Planning Attorneys is the best decision I've made for my family's future.
Working with Melissa Breyer to set up our Living Trust was one of the best decisions Scott and I have made. We did this so our boys are protected from confusion and chaos if something happens to us. Melissa was knowledgeable, patient, and made what felt overwhelming completely manageable. I would absolutely recommend Melissa Breyer.
Working with Shawn and Melissa at Atlanta Estate Planning Attorneys has been an excellent experience. They asked great questions during our initial call and clearly explained what we needed. We feel confident we're in good hands and would highly recommend them.
Yes, but leaving an LLC interest through a will does not transfer it outside of probate. The named beneficiary receives the interest only after the Probate Court approves the distribution — a process that takes 9 to 18 months and costs $30,000 to $70,000 in attorney and executor fees. During that entire period, the business operates without clear legal authority and loses clients, personnel, and value. A revocable living trust transfers the LLC interest immediately at death with no court involvement.
Five specific problems make a will an incomplete tool for Georgia business owners: (1) a will requires probate rather than avoiding it, delaying transfer by 9 to 18 months; (2) a will has no incapacity provision, leaving the business without authorized management if the owner is incapacitated but still alive; (3) a will cannot accelerate the statutory probate timeline, which includes a minimum 3-month creditor claim period; (4) a will does not give the named executor authority to operate the business during probate; and (5) a will does not control assets with named beneficiary designations, including life insurance that funds buy-sell agreements.
Georgia has a simplified procedure for small estates under O.C.G.A. 53-2-40 (year’s support) and for certain asset transfers. However, a business interest — an LLC membership interest or corporate shares — typically does not qualify for simplified transfer procedures. The business must go through standard probate with all its costs and timeline requirements. The only reliable path to avoiding probate for a Georgia business interest is placing it in a revocable living trust before the owner’s death.
Yes. A trust transfers assets that are in the trust. Any asset not titled in the trust or not directed to the trust through beneficiary designation goes through probate. A pour-over will acts as a backstop — it directs any assets outside the trust into the trust at death, so the trust ultimately controls everything. A business owner who has a revocable trust should also have a coordinated pour-over will to catch anything the trust did not reach. The will and trust work together; one does not substitute for the other.
A free 15-minute call. You will leave knowing exactly what you have, what you are missing, and what it costs to fix it.
Free Webinar
Not ready to book a call? Start here. In 60 minutes you will know exactly where your plan stands.
Register for Free Webinar