Thinking about the future is not easy, and people often put off the estate planning process because they believe it is not necessary for their stage in life. However, planning for the future is important for Georgia adults of all ages, but it’s just as important that it be done the right way. Mistakes and errors in the wills preparation process can lead to complications and issues for heirs and beneficiaries when trying to settle the estate.
After a person passes away, the probate process will take place. This process makes sure the will is legitimate and gives interested parties the opportunity to challenge the terms of the will. By having a thorough estate plan, it is possible to leave some assets out of the probate process. This can result in lower fees, fewer complications and a faster process for heirs.
Another common estate planning mistake is failing to have a will or having a will drafted in another state. Life is unpredictable, but having a will can provide a person with the opportunity to decide what will happen to property, money and even medical care. It is also a mistake to fail to update an estate plan after major life changes, such as a divorce, move or birth of a new child.
Creating an estate plan can be a complex process, and there are many variables to consider. It is beneficial to work with a Georgia attorney experienced in wills preparation from the very beginning of the planning process. Experienced guidance can reduce the chance of mistakes and errors that can cause issues down the road.