Georgia residents who are thinking about planning their estate will want to know all of the provisions they should make. Otherwise, gaps in the plan will leave them vulnerable to financial abuse and unexpected events, such as accidents that leave them unable to make their own decisions.
Estate planning doucments should be kept in a secure location that’s nevertheless accessible to family members. Estate planning platforms like Everplans and Whealthcare Planning can store plans online and are available to both consumers and financial advisers.
People should take one item at a time on their to-do list. Checking off the most difficult items first, such as titling trusts and naming beneficiaries, can be good. After that come the documents. According to Wells Fargo, there are four essential documents: wills, financial powers of attorney, advance directives and healthcare powers of attorney. Advance directives allow clients to specify what medical attention they want in case they become disabled.
People should update their plans regularly, even when there is no sense of urgency. Sometimes their financial advisers and attorneys and estate planning platforms will prompt them. They should have the conversation about their finances with their family. This can at least provide family members with peace as they face the future.
Because estate planning involves more than just filling out a will form online, it can be beneficial to retain a lawyer for each step of the process. A lawyer could personalize the will and even guide the executor through the probate court when the client has died. Estate planning lawyers can help set up a variety of trusts as well, including charitable, special needs and educational trusts.