What Is Probate In Georgia?
After you die, your estate has to go through a process where the state ensures that the legal transfer of your assets occurs pursuant to the law. It’s an actual court process and your will is registered with the court. If you don’t have a will, then the probate court in your state or county will control how your assets are distributed according to state law.
What Factors Set The Stage For Probate To Occur?
If you have a will, you’ll go through probate. Some people believe that if you have a will, you’re not required to go through probate, but a will is going to need to be registered with the probate court. If you don’t have a will, you will absolutely go through probate.
Dying without a will is called dying intestate.
In the state of Georgia, you can avoid probate through an expedited process, if you meet the requirements for a small estate, and all of the heirs agree.
The goal of an estate plan is to avoid probate and avoid having to have all of your heirs get together and agree on everything. An estate plan is drafted to avoid conflict and chaos that so often occurs when you pass away. When someone dies, strange things happen and people react oddly to their own grief. You can take that chaos away from your family through an effective estate plan.
What Are My Options For Avoiding Probate?
In order to avoid probate, you may want to consider a trust-based plan, where you simply transfer your assets into the name of the trust during your lifetime. A trust is simply a vessel that holds your assets. A trust is just you and your social security number, but it holds your assets during your lifetime and allows you to set up the parameters by which your money and assets are managed. You may decide that your minor children can’t have the assets until they’re 25, or they might have only discretionary distributions until they’re 25 or 30. The trust will detail how those assets are going to be passed upon your death.
For more information on Probate Process In The State Of Georgia, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (844) 329-6469 today.
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