Georgia, a picturesque country at the crossroads of Europe and Asia, offers stunning natural beauty, historic architecture, and a rich cultural heritage. Whether you’re captivated by the cobbled streets of Tbilisi or the majestic Caucasus Mountains, Georgia has something for everyone. However, while enjoying its charm, it’s important to consider practical matters like estate planning, especially for those living in or investing in this dynamic nation.

Estate planning in Georgia ensures your assets are managed and distributed according to your wishes, protecting your loved ones and securing your legacy. Although Wills.com doesn’t provide direct estate planning services in Georgia, the Wills App is an invaluable tool for storing your documents securely and automating their distribution when the time comes.

Overview of Estate Planning in Georgia

In Georgia, estate planning is guided by the Civil Code, which establishes how assets are handled after an individual’s passing. Inheritance typically follows the principle of intestate succession if no will is in place, prioritizing spouses, children, and parents as primary heirs. Without a will, the distribution of assets may not align with the deceased’s personal wishes.

Family ties play a central role in Georgian culture, influencing inheritance practices. Writing a will allows you to ensure your estate is distributed in a way that respects both your intentions and cultural expectations.

Standard Estate Planning Documents

• Will (“Erekleba”): Specifies how your assets should be distributed among heirs.
• Power of Attorney: Appoints a trusted person to manage your affairs if you become incapacitated.
• Title Deeds: Establishes legal ownership of property and ensures smooth transfer to beneficiaries.

Creating a Will or Equivalent Estate Plan in Georgia

Required Documentation

• Personal identification documents such as a passport or national ID.
• A comprehensive list of assets and beneficiaries.
• Legal property ownership documents, such as title deeds.

Legal Requirements

• The testator must be at least 18 years old and of sound mind.
• The will must be written and signed by the testator.
• Two witnesses, who are not beneficiaries, must witness the signing of the will.

Steps to Drafting a Will

1. Document Assets and Beneficiaries: Make a detailed list of your assets and the individuals you wish to name as heirs.
2. Draft the Will: Clearly outline how your assets should be distributed and appoint an executor to manage your estate.
3. Sign with Witnesses: Ensure two witnesses are present during the signing of the will.
4. Securely Store the Will: Use secure storage options, like the Wills App, to keep the original document safe.

Navigating Local Challenges in Estate Planning

Estate planning in Georgia can present challenges, particularly regarding land ownership and traditional inheritance practices. Disputes often arise when properties are not formally registered or when cultural expectations conflict with personal wishes.

The Wills App provides a solution by securely storing all estate documents digitally and automating their distribution. This minimizes the risk of disputes and ensures your assets are handled according to your plan.

Unique Aspects of Estate Planning in Georgia

One unique feature of estate planning in Georgia is the absence of inheritance taxes, making it an attractive option for wealth transfer. This allows heirs to inherit assets without the financial burden of tax liabilities. Additionally, Georgian culture emphasizes family unity, with a strong preference for keeping assets within the family. Many wills reflect these cultural values, prioritizing close relatives as primary beneficiaries.

Using the Wills App to Secure Your Legacy

Wills App Features

• Secure Document Storage: Digitally store your will, property deeds, and other critical documents.
• Automated Distribution: Set up conditions for asset distribution, triggered by inactivity.
• Personal Messages: Record and deliver heartfelt messages to loved ones alongside your estate distribution.

Setting Up Automated Distributions

1. Upload Your Documents: Store your estate planning documents securely on the Wills App.
2. Define Triggers: Set conditions for when and how assets will be distributed.
3. Create Messages: Record personalized messages or share meaningful mementos with your loved ones.

Ethical Will and Memory Preservation

An ethical will is an opportunity to pass on values, stories, and life lessons to future generations. In a country like Georgia, where family traditions are highly valued, an ethical will can help preserve your personal legacy.

The Wills App allows users to record video messages, write letters, or create notes, ensuring that their wisdom and memories are shared alongside material assets. This personal touch can provide comfort and guidance to your loved ones for years to come.

Frequently Asked Questions (FAQs)

• Is a will mandatory in Georgia? No, but it ensures your assets are distributed according to your wishes.
• Who inherits if there is no will? Georgian law prioritizes spouses, children, and parents as primary heirs.
• Are inheritance taxes applied in Georgia? No, there are currently no inheritance taxes in Georgia.
• What documents are needed for estate planning? A will, title deeds, and power of attorney are essential documents.
• Can foreigners own property in Georgia? Yes, but there are restrictions on owning agricultural land.
• How can I store my will securely? The Wills App offers a secure digital storage solution for estate documents.
• What is the probate process in Georgia? Probate involves court administration of the estate, including asset valuation and distribution.
• Can I disinherit a family member? Yes, but specific legal steps must be followed to do so.
• How do guardianship assignments work? Guardians are appointed by the court to manage minors’ or incapacitated individuals’ affairs.
• What provisions can I make for my pets? You can designate a caregiver and allocate funds for their care in your will.