When a person dies, his or her loved ones may end up fighting over the estate. It happens all too often. When it does, if the deceased individual was a Georgia resident, the estate may sit in a Georgia probate court for an extended period of time while family members and their attorneys work to figure things out. A prime example of this is the current battle over the Glen Campbell estate.
When a loved one dies, one person is generally assigned to handle the closing out of his or her estate. This personal representative may be named in the estate planning documents of the deceased, or a Georgia probate court judge may name someone to this position. No matter how a personal representative gets the job, he or she has a lot of responsibilities when it comes to ensuring that an estate is properly handled.
The new tax law has a lot of people in Georgia and elsewhere shaking their heads. Not necessarily because they disagree with it, but just in trying to understand it. It will change a lot of things for a lot of people. For instance, it will affect how assets may be distributed during the estate administration process.
Numerous Americans are addicted to opioids. In fact, nationwide, 142 individuals die every day due to overdosing on such drugs. Georgia residents who are preparing their estate plans may have concerns about how their loved ones' addictions could impact their abilities to successfully manage any inheritance given them during estate administration. Thankfully, there are steps that can be taken to protect assets.
The start of a new year means it is the perfect time to review your estate planning documents to ensure everything is in line with your current wishes. A lot can change in a year, so make sure you consider your desires regarding property and assets.
Losing a loved one is not an easy thing to experience. When it happens, knowing what to do next may not come naturally. What needs to be done to get the estate administration process started in Georgia?
Every year, numerous Georgia residents have the unpleasant task of closing out the estates of loved ones. When there is no will or other estate planning documents in place, the court may assign a bank or other representative to manage the estate. What can beneficiaries do if they feel that the estate administration is being mismanaged? They can do what the heirs of Max Hopper did and file claims against the executor.
Many Georgia residents, while setting up their estate plans, will create trusts in order to keep their assets protected in the event of their death or incapacitation. There are certainly benefits to doing so. It all really depends on what type of trust one creates, as it can affect how things are handled during estate administration, such as taxes.
Going to court to administer an estate is pretty unavoidable when no will is left behind by the deceased. Probate may seem like an awful thing to go through, but it does not have to be that bad, especially if one has help. An experienced attorney can assist those in Georgia who need to navigate probate when there is no will in place.
Making sure one's estate is in order is not something that is at the top of everyone's list these days, though it really is something that people in Georgia and elsewhere ought to consider doing. Even a simple will is better than nothing. This is particularly true during the probate process.