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Four Common Estate Planning Questions Answered by a Peachtree City Estate Attorney

You want the best for your family, even when you are gone. This is why it is critical that you have the most information to make the best decisions for your family’s future. By creating an estate plan in Georgia, you will be able to protect your family’s assets and take care of them even after you have left this earth.

However, not everyone thinks they need an estate plan, which is why the Law Offices of Shane Smith has answered some of the most commonly asked estate planning questions to ensure that you have the best resources so that you can make the best decisions for your family.

  1. What is estate planning? Estate planning addresses your future needs in the event you cannot care for yourself. It also details to whom your assets go upon your death and how the assets are managed, or if it makes sense to distribute your assets during your lifetime. Many people believe that writing a will is considered estate planning; however, the writing of a will is not the only component to estate planning. A will is part of the estate planning process and other documents are also needed to create a comprehensive estate plan.
  2. What is included in your estate? Any assets you hold alone or jointly are included in your estate. This includes real estate property, bank accounts, stocks and bonds, retirement accounts, life insurance proceeds, jewelry, cars, furniture, and more.
  3. What is involved in estate planning? There are many things that you will want to consider in creating an estate plan, including: who you want to receive your assets, who should manage your assets, how and when you want your property distributed, and who you want making decisions about your health if you are unable to do so yourself.
  4. Do you really need estate planning? Yes! Even if your estate is small, you still want someone to receive your assets when you pass away or make health care decisions for you if you become unable to do so. Everyone needs estate planning to manage their estate and handle the distribution of their assets in the best way. If you don’t have a plan, a court may appoint someone you didn’t even know to handle the distribution of your assets—and relatives you may not want inheriting your assets may have a right to them unless you plan who will inherit your assets ahead of time.

If you want to set up an estate plan in Georgia but you don’t know where to start, call Peachtree City estate attorney Shane Smith today who can answer any additional questions you may have and help you create a trust and will to meet your needs. The Law Offices of Shane Smith can help with your estate planning needs and can be reached at (770) 487-8999 today.