Introduction
Living and dying in Georgia brings with it considerations such as state-specific inheritance laws, the role of wills and trusts, and the increasing relevance of digital tools like the Wills App for planning. This guide walks you through every step of the estate planning process in Georgia, ensuring peace of mind and clarity for you and your family.
1. Legal Documents Used in Estate Planning
Estate planning in Georgia requires several essential legal documents to ensure that your wishes are carried out:
- Wills: Specify asset distribution and guardianship for minor children.
- Trusts: Protect and manage assets for beneficiaries, offering privacy and avoiding probate.
- Powers of Attorney: Assign someone to handle your financial and legal matters if incapacitated.
- Healthcare Directives: Outline medical care preferences in case of incapacity.
- Georgia-Specific Documents: Such as Advance Directive for Healthcare forms and Transfer-on-Death (TOD) deeds.
2. Remote Online Notarization (RON)
Georgia permits Remote Online Notarization (RON), making it easier to notarize essential estate planning documents:
- RON requires a secure video conferencing platform for the notary and signer to connect.
- Both parties must verify their identities using state-approved methods.
- Digitally notarized documents must meet Georgia’s electronic document standards.
3. Guardianship Assignment
Assigning guardianship in Georgia is crucial for minor children or incapacitated individuals:
- Parents can nominate a guardian in their will.
- The probate court evaluates and approves guardianship appointments based on the child’s best interests.
- Backup guardians should be named to ensure continuity in care.
4. Inheritance for Foreigners
Foreign nationals can inherit assets in Georgia. Key points include:
- No restrictions exist on foreigners inheriting property in Georgia.
- Non-residents may face federal estate taxes; consult a tax advisor for guidance.
5. Probate Rules and Costs
Probate in Georgia involves the validation of wills and distribution of assets:
- The process takes 6–12 months on average but can be expedited for smaller estates.
- Probate costs typically range from 3–8% of the estate’s value, including court and attorney fees.
- Georgia offers simplified probate options for estates valued under $25,000.
6. Legal and Professional Costs
Understanding costs for estate planning services in Georgia is essential:
- Attorney fees for wills and trusts range from $1,000 to $5,000, depending on complexity.
- In-person notarization averages $5–$10 per document; RON services cost around $25–$50.
7. Unique State Laws
Georgia has distinctive laws that impact estate planning:
- Homestead exemptions protect primary residences from creditors.
- Advance Directive for Healthcare laws allow for detailed medical care instructions.
8. Introduction to Ethical Wills
An ethical will enables individuals to pass on personal values, life lessons, and memories:
- It complements material asset distribution with a focus on emotional legacy.
- The Wills App lets you record video messages or write letters for loved ones.
9. The Wills App for Estate Planning Automation
The Wills App is a powerful tool for modern estate planning:
- Vault Storage: Securely store all critical documents.
- Automated Distribution: Ensure timely execution of your wishes.
- Wellness Checks: Confirm user status before triggering asset transfers.
- Cross-Border Functionality: Simplify estate planning for global assets.
10. Practical Storage Advice
Safely storing estate planning documents is crucial:
- Use fireproof safes for physical copies.
- Share access codes or instructions with trusted individuals.
- Leverage the Wills App for secure digital backups.
