Five Things You Should Know About Your Georgia Last Will and Testament
If you are making a Georgia last will and testament you should decide the following five things in advance:
First, you need to decide who your beneficiaries will be.
While most states require your spouse to be included as a beneficiary of your estate, when it comes to your children, grandchildren, and other family members, under Georgia law you’re free to include or exclude whomever you choose. In addition, under Georgia’s inheritance laws you can also name a charity, such as your church or a local shelter, as a beneficiary.
Second, you should determine what assets each of your beneficiaries will inherit from your estate.
In making this determination, keep in mind personal belongings, such as jewelry, collectibles, antiques, and pets, as well as assets, such as bank accounts, stocks and bonds, real estate can be distributed differently under your will. Using SimplyWilled.com you can make specific gifts of cash, real estate, business assets, and specific assets. In addition, you can determine how you would like the residuary of your estate distributed.
Third, you need to nominate a guardian to be responsible for taking care of your minor children until they become adults.
In Georgia, the selection of a guardian for minor children is an important decision. The person you select should hold the morals and values you would like your children to be raised within the event that you pass. Using SimplyWilled.com you can select a primary guardian for minor children as well as a secondary guardian for minor children so your children are protected.
Fourth, you need to decide what will happen to your remains after your death.
Under Georgia law, you can specify whether you would like to be cremated, buried or allow your family to make the decision for you. If you have already purchased a funeral plot at a cemetery you can specify these instructions.
Fifth, you need to appoint someone to be executor/personal representative of your estate.
The executor is the person you nominate to be in charge of settling your final affairs, such as paying bills, and taxes, administering your probate estate and carrying out your final wishes. Using SimplyWilled.com you can select a primary personal representative as well as a secondary personal representative for your estate. In addition, our cloud-based system will allow you to send an automated notification to your primary and secondary personal representatives notifying them that you have selected them as fiduciaries of your estate.
Once you make these important decisions, use SimplyWilled.com to finalize your last will and testament. Once you have your final will, you will need to execute the document in the presence of two witnesses and a notary.