Last Will and Testament: Yes, You Should Have One!
At any time in your life if you find yourself wondering when you should create a will, the answer will always be the same: now. Think about it. From the time you were a kid until now, you have probably always had an ‘estate’ of some sort, with belongings you would like to give to specific people—whether they are precious comic books or valuable real estate. While you can designate your property to be given to any person or organization, usually loved ones are named.
If you know that you have personal effects and property you would like to hand down, consult with an experienced estate planning firm like Scriber Law Group as soon as possible. With a comprehensive Georgia will prepared by a skilled attorney, you can outline exactly what happens to your estate; otherwise, the state will see that your property is given to any surviving heirs, with the court establishing who that is, going down a methodical list. Such a process can lead to hassle and extreme delays for heirs in receiving assets. In the meantime, they may have been left footing the bill for your burial and a wide range of other expenses. An estate plan allows your wishes to be carried out, and when carefully drafted by a skilled attorney, it will help reduce any chance of familial conflict. You will also be able to establish who will act as executor of the will, along with creating any necessary guardianships for minors or relatives with special needs.
A will is helpful in other ways also, such as allowing you to create a trust—and you can create one for nearly anyone—like minors or those with special needs—or anything, like a charity that is close to your heart. The revocable living trust can be funded while you are alive, and allows for control over whatever is in the trust while you are living, as well as after by way of the trustee you ask to succeed you. It is also important to consider federal taxes when creating your estate plan, and we can help you work to reduce those as much as possible.
Are you thinking about planning for the future of your family with an estate plan? Scriber Law Group is a Metro Atlanta firm that can help you with comprehensive planning, as well as other issues such as family conflict and estate theft. Call us at (404) 939-7562 or contact us online to set up a free and confidential consultations.