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Prepare for probate even if under the age of 40

Many people in Georgia may still be under the impression that estate planning is not really necessary until at least the age of 40. The truth is that any adult could benefit from estate planning since anything can happen to anyone at any time. Without any estate planning at all, the probate process becomes more of a challenge to the loved ones left behind.

Without a will, the state of Georgia decides who inherits a person's assets after death. In addition, the courts could end up deciding who cares for minor children as well. Having a last will and testament allows the individual to retain control over these decisions instead of giving them to the state and the courts.

When it comes to the possibility of not being able to make decisions due to some illness or injury, powers of attorney once again leave those decisions in the hands of the individual making the plan. He or she can decide issues such as end-of-life care and who will make decisions regarding health care, finances and property. Knowing that someone trustworthy and like-minded will be making important decisions such as these often puts an individual -- and his or her family members -- at ease.

Of course, the estate planning process is not always as simple as a will and powers of attorney. Each individual's needs, goals and wishes regarding probate are unique. Fortunately, this area of law allows for many avenues to handle nearly every one of his or her issues. In order to take full advantage of the process, it would be beneficial to consult with an attorney who can review the circumstances and devise a plan that best meets an individual's needs.

Source: CBS Boston, "The Boomers' Kids: Estate Planning", Dee Lee, June 9, 2017

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The Bowden Spratt Law Firm, P.C.
191 Peachtree Street NE, Suite 4400
Atlanta, GA 30303
Toll Free: 877-920-1051
Local: 404-523-8337
Fax: 404-523-8323
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