Since each person in Georgia has their own unique collection of assets and property, differing number of heirs and varying priorities, no two estate plans look alike. However, while the contents of a person’s estate might look quite unique, it will still utilize at least the basic estate planning documents. These includes wills, powers of attorney and health care directives.
Wills are perhaps the most well-known estate planning document. In a will, a person can list assets, beneficiaries and more. Many choose to detail their funeral wishes which, while an uncomfortable task for some, can make things easier for grieving family members.
Health care directives — also known as living wills — are perhaps less well-known than the standard will, but they are incredibly useful documents that everyone should have. A living will contains a person’s wishes regarding medical and end-of-life care. If you become medically incapacitated and are unable to make your own medical decisions or communicate them with caregivers, all of that information will already be stored in your living will.
Just having your medical decisions taken care of in such situations is usually not enough, though. Who will make sure your health care bills are paid or that your mortgage is not late? No one wants to come back from a life-threatening health issue to discover that they have accumulated debt from missed payments. You can use a power of attorney that gives a trusted individual the ability to handle your finances should you be unable to do so yourself.
Estate planning encompasses more than just what happens after your death, and even a basic comprehensive estate plan can protect a person’s dignity and wishes during one’s final days. Georgia estate law can be complicated though, and introducing things like trusts into your plan is not easy. For help establishing an estate plan, an experienced attorney can provide trusted and reliable information.