Federal estate tax exemptions have risen in recent years to be more generous, which is why many Georgia residents believe that only the wealthy need to worry about their estate plans. A study from the American Association of Retired Persons suggests that only 22 percent of millennials have drafted basic estate planning documents like wills or trusts. Experts in this field may argue that failing to take steps to guard against the uncertainties of life is unwise, and they could point out why putting a rudimentary estate plan into place makes a great deal of sense even for the young.
Many homeowners are surprised at the amount of effort it takes to sell a home in Georgia. Some are shocked when their homes sit on the market for months or when their home sells for less than market value. However, by following a few guidelines, homeowners can sell their homes quickly and for over market value.
When a Georgia resident contests a will, the issue of who can be an interested party as it concerns the estate of the decedent is likely to arise. It is not an issue that can be as easily addressed as it may seem. The number of interested parties may be many more than the petitioner of the will contest may have assumed. This is because interested parties are not limited to the parties who are recorded in the will.
People can use an estate plan to ensure that their assets are handled according to their wishes. However, assets can include more than just traditional liquid money and real property, As the world becomes more digitalized, Georgia residents should make sure that their estate planning also addresses digital assets.