To many in Georgia, the estate planning processing can seem intimidating. However, the estate administration & probate process can be significantly easier for grieving loved ones if there is an estate plan in place. While most people assume that an estate plan only dictates how a person’s assets will be divided, a complete plan does much more.
An estate plan provides protections to both the individual creating it as well as his or her estate and family. Most plans name a person who will make medical decisions for him or her in the event of an incapacitating accident or illness. This allows the person to ensure that someone who is aware of his or her wishes is making decisions. Additionally, an estate plan names who will care for minor children. Because many people include funeral arrangements, family members are also spared the stress of planning one in the time of grief and mourning.
Creating these documents can also provide protection for the estate itself. Careful planning can help avoid unnecessary taxes and can avoid probate, keeping details regarding the estate and its administration private. A business owner can also help ensure the survival of a business by detailing how it will be transferred.
In reality, these are just a few of the many benefits of creating an estate plan. In addition to easing the estate administration & probate process for loved ones, people in Georgia have peace of mind in the knowledge that their wishes are known and their family members and other loved one are cared for. An experienced attorney can help create the documents needed to ensure that an estate is administered according to the person’s wishes.
Source: grbj.com, “Estate planning 101“, Steven Struck, May 31, 2016