Most people in Georgia and other areas of the country have seen a dramatic portrayal of a will being read on a television show or movie. Even though it is rarely the case that a rich relative leaves an unexpected inheritance to a family member, wills do play an important — if less dramatic than in fictional portrayals — role in the estate administration and probate process. Despite knowing the importance of such documents, many people feel that because their estate is small, they do not need to go through the estate planning process.
However, that belief is a misconception. Even people who do not have a large estate likely has at least one asset that they want to leave to a family member or friend. With no will in place, the asset will be divided according to state law.
Additionally, estate planning, including the creation of a will, is especially important for blended families. Without a will, assets could go to unintended individuals. Another advantage of planning in advance is avoiding court intervention, which can be both costly and lengthy.
Despite the advantages of wills and other estate planning documents, a recent survey of 1,000 people revealed that a majority of people in the 37 to 52 age group do not have a will. To help ensure that a person’s wishes are clearly expressed so that they can be met following his or her death, creating a will is important. A Georgia attorney with experience with creating such documents can help ensure that they are clear and less susceptible to challenges in probate court.
Source: clevelandjewishnews.com, “Estate planning applies to everyone, not just the wealthy“, Becky Raspe, Sept. 20, 2017