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How to secure your legacy and protect your family after death

On Behalf of | Jun 28, 2024 | Estate Planning

Estate planning is vital but often overlooked. In Georgia, failing to establish an estate plan can lead to various complications and uncertainties for your loved ones after you pass away.

Intestate succession laws

If you die without a will or any other estate planning documents, the state’s intestate succession laws will distribute your assets.

The intestacy laws determine how the court will distribute your property among your surviving relatives. According to these laws, your spouse, children, parents, siblings, or other relatives may receive a share.

Without a will, the state decides who inherits your assets, which may not coincide with your needs or wishes.

Probate process and costs

Passing away without a plan for your belongings can make the legal process longer and cost more money. Probate is the official means of overseeing an estate and dispersing assets to the heirs. If you do not have a will, the court will appoint someone to administer your affairs.

Probate proceedings can tie up assets for months or even years, delaying the distribution of inheritance to your loved ones.

Guardianship for minor children

Estate planning is especially important for parents of minor children when designing guardianship. If both parents pass away without specifying guardianship in a will, the court will determine who will care for the children, which may not be the person you would have chosen.

Estate planning provides control over various aspects of how you would take care of your family after your passing. It ensures your wishes are respected and offers peace of mind, shielding your family from unnecessary delays and financial burdens during challenging times.