Norcross Estate Planning Attorneys

It is Never Too Soon to Create an Estate Plan

Estate planning is an important part of responsibly owning and managing assets. Your estate plan is primarily your plan for your assets after your passing, but it also includes your plans for your own late-in-life care. Because estate planning can be a complicated, emotionally charged process, you are advised to work with an experienced estate planning lawyer to complete the process.

Estate Planning Issues to Consider

Every estate is unique. You might need to work with a financial advisor to determine the actual value of your assets and their projected value in the future. Estate planning requires you to take a realistic look at your current needs, your anticipated future needs, and your goals for your assets.

Often, individuals use strategic estate planning to reduce their heirs’ estate taxes, easing the burden they face when they inherit the assets. This is usually done through a few strategies:

Components of an Estate Plan

Your estate plan should include your will, the written document that outlines how your assets are to be distributed following your death. If you have minor children, your will should also state who will care for them.

Other estate plans to make include:

The Probate Process

Probate is the court process through which a deceased individual’s survivors, typically his or her spouse and/or children, gather his or her assets and have them distributed between the deceased’s heirs under court supervision.

Probate is not always necessary. In Georgia, it is required when the deceased owned assets solely. Certain assets do not pass to beneficiaries through the probate process. These include:

It is a myth that having a will means your assets are not subject to probate. In Georgia, your loved ones can actually only request that your estate not go through the probate process if you do not have a will and if there are no debts to be repaid or if there are, that your creditors do not object to opting out of probate.

Work with an Experienced Gwinnett County Estate Planning Lawyer

You are never too young or in too good of health to start estate planning. To learn more about the estate planning process and to start making decisions that will reduce your loved ones’ stress after your death, contact our team of experienced estate planning lawyers at Zimmerman & Associates today to set up your free legal consultation in our office.