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The pitfalls of ignoring the need for an estate plan

On Behalf of | Jan 2, 2020 | Probate & Estate Planning |

Georgia families often hesitate to begin work on an estate plan. Either they are frightened by discussing the prospect of their own mortality or they are intimidated by not knowing where to start. However, by being methodical and looking to the future, they can tackle this critical task.

The most important thing when it comes to an estate plan is to actually start the process. This will begin with a broad consideration of both the goals of the plan and the people who need to be covered by the estate plan. Education is also a vital part of an estate plan as families need to understand the options they have so that they can consider each of them.

There are different levels of estate planning based on age. In other words, what is considered to be a sound estate plan changes as life situations change. However, the worst type of estate plan is not having one at all. This will mean that the family will struggle when a loved one passes, and they will possibly need to go through probate. It could also create difficulty when tough decisions need to be made and there is no power of attorney in place. Families must look toward the future even if aging and death are many years away because it is best to plan now.

Many families simply do not know the starting point when it comes to estate planning. The good news is that an estate planning attorney may help them organize their thoughts and consider their options. When the time comes to formalize the plan that the family has worked on, the attorney may assist them to create the legal documents. Estate planning is not necessarily conducive for a DIY approach, and an attorney might give critical assistance to make sure that it is done right.


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