Impact of Not Having an Estate Plan In Georgia

Impact of Not Having an Estate Plan

When you don’t have an estate plan in Georgia, the government decides who gets your assets. 

Why It Matters: The government splits up your assets, regardless of your wishes.

This leads to: 

  • unintended beneficiaries
  • family disputes
  • financial and emotional hardship for your loved ones

An estate plan ensures that your assets are distributed according to your wishes:

  • protecting your family’s future 
  • minimizing legal complications

Biggest Problems We See

  • Guardianship Disputes: The courts will decide who will care for your minor children.
  • Wrong Person Managing Your Estate: The court will appoint an administrator to handle your estate.
  • Government Control Over Asset Distribution: State laws dictate how your assets are distributed.
  • Delays and Additional Expenses: Your heirs won’t receive their inheritance quickly and will have extra court and legal fees.
  • Increased Family Conflict: Surviving family members argue over assets and decisions.
  • Potential for Unintended Heirs: Someone you do not want to inherit could receive a portion of your estate under state laws.
  • Lack of Planning for Incapacity: Doctors or a judge will decide how to handle your healthcare without a clear decision-maker.

Dig Deeper: Keep reading to dig deeper into the repercussions of not having an estate plan set up.

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The Process of Intestate Succession in Georgia

If you die without an estate plan in Georgia, your assets are distributed per the rules of intestate succession. 

Here’s what you need to know about this process.

How Does Intestate Succession Work?

It’s a method used to distribute your property when you fail to leave a will. 

The state of Georgia has specific laws that prioritize close family members.

Who Inherits Your Assets?

  1. Spouse and Children: If you have a spouse and children, your spouse will receive a portion of your estate, but not all of it. Your children will receive the remainder in equal parts.
  2. Parents: If you have no spouse or children, your parents will inherit everything.
  3. Siblings: If you have no surviving spouse, children, or parents, your siblings will inherit your assets.

The Importance of Having a Will in Georgia

When you have an estate plan: 

  • your assets get distributed how you want them to be
  • you provide clarity and support for your loved ones when you pass

Benefits of a Will

  • Control Over Asset Distribution: A will gives you control over how your assets are distributed.
  • Appointment of Guardians: If you have minor children, a will allows you to appoint guardians for them.
  • Minimize Legal Disputes: By clearly stating your wishes, you can help minimize potential disputes among family members.

Consequences of Not Having a Will

  • Potential for Unintended Heirs: Without a will, people you would prefer not to inherit your assets might do so under state laws.
  • Increased Costs and Delays: The probate process without a will can be longer and more costly, diminishing the value of the estate left for your heirs.

Get Started On Your Estate Plan Today

If you want help from an estate planning law firm, fill out the form below

At The Hive Law, we understand the importance of:

  • protecting your hard-earned assets 
  • ensuring your family’s future
  • not losing everything to creditors and lawsuits
  • properly (and legally) distributing assets 

We only accommodate a limited number of estate planning clients each month.

So don’t miss your opportunity to work with our estate lawyers.

Benefits of our estate planning services:

  • Tailored solutions to fit your unique needs and goals
  • Expert guidance in navigating complex tax and legal matters
  • Preservation of your wealth for future generations
  • Streamlined asset distribution according to your wishes

Avoid the pitfalls of inadequate estate planning strategies:

  • Creditors seizing your assets
  • Lawsuits jeopardizing your family’s financial security
  • Family disputes over inheritance
  • Costly and time-consuming probate processes

Talk soon.

Get A FREE Estate Plan Consultation!
We run out of free consultations every month. Sign up to make sure you get your free consultation. (Free $550 value.)
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