With the New Year comes resolutions, personal goals, and a fresh start. How are you doing on your legal checklist?
Write your Will.
It is best if you are the one making decisions about your estate and how it is handled at your death. If you die without a Will, a Probate Court will apply Georgia law to your estate. Simply put, it means that the Probate Court will divide your estate among your heirs (spouse, living children, heirs of deceased children, etc.), with your spouse receiving no less than one-third of your estate.
Generally speaking, the probate process will cost your family more money and may tie up your estate for months, or even years. It is better to take the time to make your decisions now than to wait for the unexpected to occur. Learn more here.
Get your finances in order.
With foresight and planning, trusts are relatively simple to create. Try these simple lessons, and apply regardless of the size of your estate:
• Consider the value of trusts to retain privacy and reduce taxes.
• Be sure to keep all estate documents updated. Failure to do so can be expensive.
• Get more estate planning information here.
Have the right divorce team.
If you are going through a divorce it is important to have all the right people on your side. Divorce is a journey you don’t have to travel alone. While you will certainly want to gather a village of support, there are three people you absolutely should have on your team: a lawyer, a financial advisor, and a recently divorced friend.
- A lawyer. The right lawyer will concentrate on getting results that will satisfy you going forward.
- A financial advisor. A financial advisor, along with a lawyer, can assist you in determining the proper child support for your situation, as well as weigh the options for appropriate spousal support, if necessary.
- A recently divorced friend. A friend not only has experience on the legal side of divorce, but she also knows you and your family.
Learn more here.
These are just a few things you can do to get ahead in 2016. Do you have other questions? Call us at 770-528-0150.