Recent events may have given Georgia residents cause to pause and think about their need to make sure they have a last will and testament in place. Life is always uncertain, and the thought of leaving loved ones to deal with legal and financial matters upon passing is something no one wants to do. Wills preparation may seem like something to put off for another day, but making sure all the ducks are in a row is just a loving way to show children and family members that care has been taken on their behalves.
Georgia residents are taking the COVID-19 pandemic seriously, but it can be difficult to find accurate answers to important questions. People must stay up-to-date about a wide range of topics, and regulations vary by state and may change daily. An average adult may have to get used to business closures, limited hours and shortages at stores, not to mention their children trying to finish the school year online. The serious health risk has also led to a surge in people needing information about wills preparation, and many are confused by search results.
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.
Creating an estate plan does not have to be hard, but it does require a thoughtful approach. Otherwise it is very easy to make otherwise avoidable mistakes, most of which will significantly impact the future. As people in Georgia get ready to welcome the new year, it is a good time to think about estate planning goals for 2020. Here are a few mistakes to watch out for.
In many states, someone who wants to create a will has many rules to follow, including having an appropriate number of witnesses and following certain standards of preparation. In Georgia, however, wills preparation is not so complex. While this may encourage more people to leave a record of their final wishes, it may open the way for family disputes and legal challenges.
Most people in Georgia know what a will is. These legal documents give people the opportunity to outline their wishes regarding their property after they die, including whether certain properties should be sold or what should be given to heirs. Parents can even select guardians for their minor children and include that information as well. However, wills preparation is not as simple as quickly jotting down a few wishes on a piece of paper and calling it a day.
More than half of adults in the U.S. do not have an estate plan, and those who consider making one understandably want it to be as simple as possible. One industry that has assisted in this area is the do-it-yourself wills preparation websites. However, these generic forms do not allow for any unique circumstances the will creator, called a testator, may have, and they do not always comply with Georgia law.