When a Georgia resident dies, the potential for conflict over the assets left behind remains regardless of how well he or she planned. Any chance of friendly estate administration and probate goes up in flames when surviving family members argue and initiate litigation over the estate. This happened to one family in which the decedent owned a tobacco farm prior to death.
Nearly every Georgia family has its issues. If those issues carry over into the estate administration and probate process, it could get ugly. There are ways to limit this possibility, depending on how an estate plan is structured.
The Boy Scout motto "Be prepared" translates into many areas of a Georgia resident's life. Estate planning is one of those areas in which making advance preparations eases the burdens on family members in the event of incapacitation or death. However, if the plan is not updated when needed, it may make estate administration and probate more difficult when the time comes.
When celebrities die, news outlets here in Georgia and elsewhere carry stories about how they died and what happens to their families now that they are gone. Like everyone else, celebrities make estate-planning mistakes that complicate estate administration and probate. These errors present an opportunity for everyone to learn what not to do in order to make the process easier on surviving family members.
Gone are the days of the Brady Bunch when it seemed that blended families fit together with only minor hiccups that were easily resolved in a 20 minute television show. While it may not be too difficult to figure out where to live and how to delegate parental duties in a newly created family, it may require greater effort to ensure that one has updated plans in place when it comes to estate administration and probate protection. Georgia families may benefit from reviewing their current wills and trusts to ensure that their loved ones are provided for in the manner they desire.
Providing for loved ones after death is a primary goal of many Georgia residents. They made the effort to create a comprehensive estate plan that they believe expresses their wishes and will provide for their loved ones. However, the documents themselves might not be enough to make estate administration and probate as easy as possible for surviving family members.
Like many Georgia residents, after spending your life accumulating significant wealth that is intended to provide for your family both during life and after death, you more than likely would not want the federal government taking any more of your estate than absolutely necessary, if any at all. That is exactly what could happen, however, without proper planning. Taxes could mar the estate administration and probate commenced after your death.
Although most people do not spend much time planning their estates, those in Georgia who own businesses may be more likely to make wills so that their heirs can benefit from their hard work. A well-known woman in another state built a reputable florist shop. When she died at age 86 from Alzheimer's disease, the estate administration and probate of her assets became a source of contention. Despite the fact that she made a will, at least one of the beneficiaries of the will was not satisfied.
The estate of superstar Prince continues to take twists and turns that would have been nonexistent had he simply prepared a last will and testament. That document would have given specifics and would have identified the specific heirs and their inheritance percentages. Without the estate planning, the entertainer's fortune has been mostly up for grabs in an estate administration and probate circus that has shocked his fans and the public worldwide, including here in Georgia.
Many Georgia residents draft their wills after the births of their first children but never review the document again. Most people recognize the importance of estate administration & probate to ensure their children are taken care of if the parents should die. However, a significant percentage of individuals do their wills and then neglect to revise the details at regular intervals.