by BarryWho Pays Closing Costs in Georgia? A Buyer’s and Seller’s Guide
One of the most common questions we hear from both buyers and sellers is: “What am I actually paying at closing?” The answer in Georgia follows a general pattern, but it’s also negotiable.
What Buyers Typically Pay
As a buyer, your closing costs generally include lender fees, the appraisal, prepaid interest, escrow deposits for taxes and insurance, title search and examination fees, owner’s title insurance, the Georgia intangible recording tax, and your share of the attorney’s fee.
In total, Georgia buyers should expect 2% to 4% of the purchase price in closing costs, in addition to the down payment. On a $400,000 home, that’s approximately $8,000 to $16,000.
What Sellers Typically Pay
Sellers generally cover the real estate commission (typically 5% to 6%), the Georgia transfer tax ($1.00 per $1,000 of the sale price), their share of the attorney’s fee, mortgage payoffs, and prorated property taxes.
Seller closing costs typically run 7% to 9% of the sale price when the commission is included. On a $400,000 sale, that’s roughly $28,000 to $36,000.
What’s Negotiable
Almost everything is negotiable. In a buyer’s market, sellers often agree to a “seller concession,” which is a contributing toward the buyer’s closing costs. Buyers can shop for certain services like title insurance and home inspections.
What isn’t negotiable: the Georgia intangible recording tax and the state transfer tax. These are statutory and apply regardless of what the parties agree to. However, the parties can certainly agree on who will be responsible for paying these taxes.
How Edwards Law Can Help
At Edwards Law, we review your closing costs line by line. No surprises at the closing table.
Ready to close with confidence? Call us at 404-341-9377 or email info@edwardslawatl.com.
by BarryDo I Need a Will or a Trust in Georgia?
It’s one of the first questions we get from new clients: “Should I get a will or a trust?” The honest answer is that it depends. However, not in a vague, unhelpful way. There are specific factors that point clearly in one direction or the other.
What a Will Does
A will is the foundation of most estate plans. It lets you name who inherits your assets, designate an executor, and name guardians for minor children. For many families with straightforward finances, a will-based plan is exactly the right tool.
The trade-off is that a will goes through probate. In Georgia, probate isn’t as burdensome as in some states, but it does mean your estate becomes public record and the process can take several months.
What a Trust Adds
A revocable trust does everything a will does but also transfers assets outside of probate. That matters most when you own real estate in multiple states, have significant assets you want to keep private, want more control over how and when beneficiaries receive their inheritance, or want to provide for a family member who needs ongoing financial support.
A trust also provides a seamless management structure if you become incapacitated. Your successor trustee steps in immediately and no court intervention required.
Which One Is Right for You?
For most professionals in their 30s to 50s, the decision comes down to complexity and goals. If your primary concerns are naming guardians, directing assets to your spouse and kids, and getting basic protections in place, a will-based plan is efficient and cost-effective. If you have multiple properties, blended families, or specific distribution goals, a trust gives you more flexibility.
One important note: regardless of which path you choose, you still need powers of attorney and healthcare directives. A will or trust handles what happens after you die. Powers of attorney and healthcare directives handle what happens if you’re alive but unable to make decisions. All of them are essential.
How Edwards Law Can Help
At Edwards Law, we walk you through both options and help you decide which fits your family’s situation.
Ready to get started? Contact us today to schedule a consultation.
by BarryWhat to Expect at Your Georgia Real Estate Closing
You’ve found the house, negotiated the price, and survived the inspection. Now comes closing day. If this is your first home purchase, the closing itself can feel like a mystery. Here’s what actually happens so you can walk in prepared.
Before Closing Day
Most of the work happens before you sit down at the table. Your lender finalizes the loan, the closing attorney reviews the title commitment and closing documents, and the title search confirms there are no outstanding liens. You’ll receive your Closing Disclosure at least three business days before closing. Review it carefully and compare it to the Loan Estimate you received when you applied.
You’ll also need to arrange your funds. In Georgia, you wire your closing funds to the closing attorney’s escrow account. The closing attorney or lender will provide wiring instructions and be sure to verify those instructions by phone before sending any money.
At the Closing Table
In Georgia, a licensed attorney must supervise real estate closings. Closings typically take 45-90 minutes. You’ll sign the loan documents, the settlement statement, and some additional forms. The closing attorney will walk you through each one. If something doesn’t look right, speak up before you sign.
After Closing
Once everything is signed and funds are disbursed, the deed is recorded with the county clerk’s office. You’ll receive a copy in the mail or via email a few days later. Your closing attorney handles paying off the seller’s existing mortgage, distributing funds to agents, and remitting taxes or fees.
Your job: change the locks, set up utilities, and store your deed and closing documents somewhere safe. You’ll need them for tax purposes and if you ever refinance or sell.
How Edwards Law Can Help
At Edwards Law, we make the closing process clear and stress-free. Whether you’re buying your first home or your fifth, we walk you through every document.
Ready to schedule your closing? Call us at 404-341-9377 or email info@edwardslawatl.com.
by BarryWhat Happens If You Die Without a Will in Georgia
Nobody likes thinking about it. But if you pass away without a will in Georgia, the state has a plan for your assets and there’s a good chance it doesn’t match what you would have chosen.
Georgia’s intestacy laws are a set of default rules that determine who inherits your property when you don’t leave instructions. They’re rigid, they’re impersonal, and they don’t account for the nuances of your family. Understanding what happens under these rules is often the push people need to finally put a plan in place.
Georgia’s Default Rules
If you’re married with children, your surviving spouse and children split your estate. Your spouse is guaranteed at least one-third, and the rest is divided equally among your children. That might sound reasonable, but consider what it means in practice. If you have three kids and a home that represents most of your wealth, your spouse could end up owning only a fraction of the house you shared. Selling the family home to divide the proceeds is a real possibility.
If you’re married without children, your spouse inherits everything. If you’re single with children, your children inherit equally. If you have no spouse and no children, the estate passes to your parents, then siblings, then more distant relatives. What the law doesn’t account for is stepchildren, unmarried partners, close friends, or charitable organizations you care about.
The Hidden Costs of No Plan
Beyond who gets what, dying without a will means your estate almost certainly goes through probate and, without a named executor, the court appoints an administrator. If you have minor children, a judge will choose their guardian. Family disagreements over guardianship can be painful, expensive, and entirely avoidable.
There are also practical headaches. Without powers of attorney, no one has immediate authority to manage your bank accounts, pay your bills, or deal with your mortgage.
The Fix Is Simpler Than You Think
A basic will-based estate plan addresses all of this. You decide who inherits your assets, who manages your affairs, and who raises your children. The process typically takes three to four weeks and costs far less than the legal fees your family would face navigating intestacy.
The bottom line: if you don’t have a will, Georgia has one for you. And it almost certainly isn’t the one you’d write yourself.
How Edwards Law Can Help
At Edwards Law, we help Atlanta families put a plan in place that reflects their actual wishes—not the state’s default rules.
Ready to get started? Contact us today to schedule a consultation.
by BarryCaught in the Middle: Estate Planning for the Sandwich Generation
If you’re in your late thirties, forties, or early fifties, there’s a good chance you’re being pulled in two directions at once. Your kids need your attention, your time, and your money. And increasingly, so do your aging parents. Financial planners call this the “sandwich generation” and if you’re living it, you already know the feeling.
The families who navigate this season best are the ones who plan through it, not around it. That starts with two conversations: one with your parents and one with yourself.
Helping Your Parents Get Their Plan in Order
The first step is often the hardest: asking your parents whether they have an estate plan. Many adult children assume their parents took care of this years ago. In my experience, that assumption is wrong more often than it’s right.
If your parents don’t have a plan, or if it hasn’t been reviewed in over a decade, the most critical documents to address are a will, a financial power of attorney, an advance directive for healthcare, and a HIPAA authorization. Together, these give you the legal authority to step in when your parents can’t manage things on their own. Without them, you may find yourself locked out of their financial accounts and medical records at precisely the moment you need access most.
It’s also worth having a candid conversation about the cost of long-term care. Medicare and standard health insurance cover far less than most people realize. If your parents carry long-term care insurance, know where the policy is and what it covers. If they don’t, talk about how those expenses will be managed. And if you end up contributing financially, pay healthcare providers directly rather than giving money to your parents. Under current tax law, direct payments to medical providers are not considered taxable gifts, regardless of the amount.
Your Own Plan Can’t Wait
This is where I see the biggest gap. Sandwich generation clients invest so much energy getting their parents’ affairs organized that they never address their own and the math is unforgiving. If something happens to you while you’re the one holding everything together, the people who depend on you most are the ones left scrambling.
At minimum, you need a will, financial powers of attorney, and an advance directive for health care. If you have minor children, naming guardians isn’t optional. If you don’t make that decision yourself, a probate court will make it for you. Beyond the documents, take an honest look at your financial position: life insurance, retirement contributions, and how much exposure your family carries if the primary earner is suddenly out of the picture.
For some families, a revocable trust is a stronger foundation than a will alone. A trust lets you provide for multiple generations (i.e., parents, spouse, and children) without routing everything through probate, and it lets you build in protections like staggered distributions for children or designated provisions for a parent who needs ongoing support.
Plan Now, Worry Less Later
Being caught in the middle is exhausting. But the families who come through it with the least stress are the ones who took action early. Start with your parents’ plan, then take care of your own, and revisit both regularly.
How Edwards Law Can Help
At Edwards Law, we work with Atlanta families navigating exactly this situation. Whether you need to get your parents’ documents in order, create your own estate plan, or develop a multigenerational strategy, we make the process clear, personal, and straightforward.
Ready to get started? Contact us today to schedule a consultation.
by BarryThe Role of Surveys in Residential and Commercial Closings
Before purchasing residential or commercial property, a land survey ensures you fully understand what you’re buying.
Why Land Surveys Matter
- Confirm Boundary Lines – Prevents future disputes with neighbors.
- Identify Easements & Encroachments – Ensures no legal conflicts exist.
- Assess Zoning Compliance – Verifies property use aligns with local regulations.
Types of Surveys & When to Use Them
- Boundary Surveys – Ideal for homebuyers confirming property lines.
- ALTA/NSPS Surveys – Recommended for commercial real estate transactions.
- Topographic Surveys – Used for development projects requiring elevation details.
How to Avoid Survey-Related Delays
- Order a survey early to avoid last-minute surprises.
- Work with a trusted surveyor who specializes in Georgia real estate.
- Review the survey findings with a real estate attorney to address any red flags.
How Edwards Law Can Help
At Edwards Law, we review surveys, resolve disputes, and ensure a smooth closing process. Need expert guidance? Contact us today to discuss your property survey needs.
by BarryUnderstanding the Difference Between an LLC and an S-Corp for Tax Purposes
Choosing the right business structure is more than just a legal decision—it directly impacts your taxes, liability, and long-term success. Many small business owners debate between forming a Limited Liability Company (LLC) or electing S-Corporation (S-Corp) status. Here’s what you need to know.
LLC vs. S-Corp: Key Differences
✅ Taxation – LLCs are typically pass-through entities, meaning profits are taxed at the owner’s personal income tax rate. However, an LLC can elect to be taxed as an S-Corp, allowing business owners to take some income as distributions, reducing self-employment taxes.
✅ Ownership Restrictions – S-Corps have strict limits: no more than 100 shareholders, all of whom must be U.S. citizens or residents. LLCs offer greater flexibility in ownership and can have an unlimited number of members.
✅ Management Structure – LLCs can be member-managed (owners handle operations) or manager-managed (owners appoint a manager). S-Corps must have a board of directors and officers to oversee business operations.
LLC Taxed as an S-Corp: A Middle Ground
Some business owners want the flexibility of an LLC but also want to reduce self-employment taxes, so they elect for S-Corp taxation. Here’s how it works:
- The LLC remains a legal LLC but files taxes as an S-Corp with the IRS.
- Business owners pay themselves a reasonable salary, subject to self-employment tax, but take additional profits as distributions, which are not subject to self-employment tax.
- This structure can save thousands in taxes, but it also comes with stricter compliance requirements, including payroll and tax filings.
Common Mistakes to Avoid
- Assuming an LLC always provides better tax benefits—sometimes, an S-Corp election is the smarter choice.
- Not reassessing entity status as your business grows.
- Forgetting that S-Corp compliance requirements are stricter than LLCs, including payroll obligations and formal meetings.
How Edwards Law Can Help
Choosing the wrong entity could cost you thousands in taxes. At Edwards Law, we help business owners select the right structure to maximize tax savings and legal protection. Contact Edwards today and schedule a consultation today to optimize your business strategy.
by BarryEstate Planning for Blended Families: Avoiding Common Pitfalls
Blended families bring love, complexity, and sometimes unexpected estate planning challenges. Without a well-structured estate plan, assets may not go where you intend, and disputes may arise between children, stepchildren, and spouses. How can you ensure fairness and clarity? Here’s what you need to know.
Key Considerations for Blended Families
- Updating Beneficiary Designations – Ensure your retirement accounts, life insurance policies, and bank accounts align with your current wishes. Failing to update these could mean an ex-spouse inherits instead of your current spouse or children.
- Using a Trust for Asset Distribution – A revocable living trust allows you to control who receives what and when while avoiding probate.
- Providing for a Surviving Spouse & Protecting Children – A Qualified Terminable Interest Property (QTIP) trust allows your spouse to benefit during their lifetime while preserving assets for children from a prior marriage.
- Avoiding Probate Disputes – Clear documentation minimizes legal battles between biological children and stepchildren.
Common Mistakes to Avoid
- Assuming a simple will is enough to prevent disputes.
- Not having a plan for family heirlooms or sentimental assets.
- Failing to name an impartial trustee or executor.
How Edwards Law Can Help
At Edwards Law, we create customized estate plans that reduce family conflicts and ensure your loved ones are protected. Schedule a consultation today to secure your family’s future.
by BarryNavigating Title Defects: How to Resolve Issues Before Closing
Imagine this: You’re just weeks away from closing on your dream home when the title search uncovers an old unpaid lien. Suddenly, your closing is on hold, and you’re left scrambling to find a solution. Title defects are a common but often unexpected hurdle in real estate transactions, delaying closings and leading to costly legal issues. The good news? Many title defects can be resolved before they derail your deal.
Common Title Defects That Can Disrupt Your Closing
- Liens & Judgments – Unpaid debts attached to the property, such as past-due contractor bills or unpaid taxes.
- Errors in Public Records – Incorrect legal descriptions, misspelled names, or missing signatures.
- Boundary Disputes – Unclear property lines leading to potential ownership conflicts.
- Unknown Heirs or Claims – A previous owner’s long-lost heir could suddenly assert a claim to the property.
How to Resolve Title Defects Before Closing
- Obtain a Title Search Early – A comprehensive title examination can uncover potential issues before you’re deep into the transaction.
- Purchase Title Insurance – This protects both buyers and lenders from future claims against the property.
- Work with a Real Estate Attorney – A legal expert can negotiate releases, correct errors, and clear encumbrances.
Common Mistakes to Avoid
- Skipping a title search to “save time”—this often results in last-minute surprises.
- Not verifying lien releases—just because a past owner paid off a debt doesn’t mean it was properly removed from the records.
How Edwards Law Can Help
At Edwards Law, we know how stressful title defects can be. Our real estate attorneys work quickly to resolve issues, protect your investment, and ensure your closing stays on track. Don’t let a title issue derail your home purchase—schedule a consultation with us today. before your next home purchase.
by BarryConverting a Sole Proprietorship to an LLC: Key Considerations
Many small business owners start as sole proprietors but later realize the need for greater legal protection. Converting to an LLC can provide liability protection and tax benefits, but the process requires careful planning.
Steps to Convert Your Sole Proprietorship to an LLC
- Choose a Business Name – Ensure your desired LLC name is available and complies with state rules.
- File Articles of Organization – Submit paperwork to formally register your LLC.
- Create an Operating Agreement – Establish business rules and ownership structure.
- Obtain an EIN – Get a new Employer Identification Number from the IRS.
- Update Licenses and Bank Accounts – Transfer business permits, contracts, and financial accounts to the LLC.
How Edwards Law Can Help
Transitioning from a sole proprietorship to an LLC can be complex. Contact us today to schedule a consultation and let Edwards Law guide you through the process to ensure a smooth and legally sound conversion.