Nearly everyone owns an estate that includes a car, home, real estate, bank accounts, investments, life insurance, furniture, and other assets. What happens when you die? We assume you want to tell people and organizations how to use them.
In comes your will. This legal plan lists who will receive your assets, what, and when. A proper plan ensures that your intentions are carried out, which is why you should contact an estate planning attorney in Peachtree City, GA.
Help Avoid Costly Probate Process
Probate is the legal procedure by which a deceased person’s inheritance is transferred to the legitimate heirs and beneficiaries. This is an extremely expensive procedure that can take up to two years and is quite public. Anyone willing to go to the courthouse can receive copies of your will and other associated legal documents.
When it comes to probate, there is some respite. This approach isn’t always essential, even if you don’t have a trust. You can avoid probate when all of your assets are allocated to beneficiaries.
Can Save you Time
An estate planning attorney in Peachtree City GA, aids in the organization of all of your documents and intentions. This will make it easier for your family to locate important financial documents, titles, insurance policies, and beneficiary designations after you die away.
Additionally, while you are still living, this planning approach can assist you in identifying and resolving flaws and blunders. There are typically several mistakes when it comes to naming beneficiaries, including the tax implications of naming beneficiaries for your 401K.
