People in Georgia often put a great deal of thought into their legacy and how their assets will be distributed upon their death. Most people are aware of the importance of having a last will and testament. However, there are other estate planning tools, including trusts, that can help ensure that a person's assets go to the beneficiary of their choosing rather than to taxes.
Many parents work hard to ensure that the needs of their children are met. Over the years, they could ultimately amass a significant amount of wealth -- assets that they want to pass on to their children upon their death. However, some parents in Georgia may be concerned about their child's spouse receiving part of an inheritance in a divorce. Fortunately, there are trusts and other options that can provide protection.
An estate plan is a common way that people designate the division of their estate after their passing. However, estate taxes and government regulations may affect the inheritance your heirs receive.
Because people in Georgia want to ensure that their estates are distributed according to their wishes, they often put a great deal of thought into the creation of an estate plan. However, some potential beneficiaries are often unhappy with the contents of such a plan, causing complications with the estate administration and probate process. While it is not possible to prevent someone from challenging a plan, there are certain safeguards that can be put in place to prevent a challenge from being successful.