Wills and Probate
    What are the requirements to make a Will? You must be at least 14 years of age, of
    sufficient  mind and memory to realize you are making a Will disposing of your property at
    death.  The will must be in writing (unless made on the deathbed), and be witnessed by at
    least 2 witnesses.  It is important to have a Will done by an attorney because the formal
    execution and proper format is just as important as the content.


    What if you die without a Will?  Georgia' inheritance statute will determine who gets your property.  The court
    will appoint an administrator to manage and settle your estate.  

    When should you make or review a Will?  As soon as you have property or children to be cared for, you
    should make a Will.  Whenever there is a change in your legal circumstances, including marriage, divorce, birth
    or adoption of a child, death of a beneficiary you should also review your Will so that your Will is still valid.

    How long is a Will valid?  A Will is not valid until death and may be changed or amended by signing a new will
    or "codicil", which is an amendment executed with the same formalities of a Will.

    What is a Living Will?  The state of Georgia recognizes the right of a competent adult to make a written
    directive, known as a Living Will, instructing his/her physician to withhold or withdraw life-sustaining procedures
    in the event of a terminal condition.

    What is a Power of Attorney?  A durable Power of Attorney appoints someone to handle your assets if you
    become incapacitated.  You do not need to transfer assets at the time you sign a Power of Attorney, but you
    should keep the person appointed informed of your financial matters.

    What is a Durable Power of Attorney for Health Care?  A Durable  Power of Attorney for Health Care
    appoints someone to make health care decisions for you when you are unable to do so yourself.  This person
    can provide informed consent for treatment, or refuse treatments for you.   

    What is Probate?  Probate is the public process of filing and validating a Will in court, paying all the debts and
    taxes of the deceased person, and dividing up the assets according to the Will or Georgia law.

    What is Estate Planning?  Estate planning is being diligent in the care and maintenance of all that you have
    worked for during your lifetime.  It is making sure your spouse, children and you are provided for.  Estate
    Planning is taking responsibility to ensure that your estate or everything you own, is preserved and used for the
    benefit of those you love.

    What is a Living Trust?  A revocable Living Trust is established by transferring assets to the trust while you
    are alive.  The individual then acts as the trustee and maintains control over the assets during his/her lifetime.  
    At death, the successor trustee takes over and manages or distributes the assets in accordance with the
    directions contained in the document that created the trust, therefore it avoids the need for Probate.

    How can I provide for my young children?  The most common trust is one set up for minor children for their
    care after you are gone and until they are old enough to take care of themselves.  A parent can name a trustee
    to be in control of the finances and decide whether to sell or keep property, and manage assets such as real
    estate.  The trustee, usually a family member or close friend, can be paid an hourly rate or a set monthly
    amount for their services, out of the trust assets.  You should also appoint a guardian for your children,
    someone who would have physical custody of and take care of your children on a daily basis.

    Is a life insurance policy a substitute for a Will?  No.  Life insurance is only one kind of property that a
    person may own.  A will is still needed to dispose of the rest of one's property.

    Is placing all property in joint ownership a substitute for a Will?  No.  A joint tenancy does not provide for
    the distribution of the joint property in the event of a common disaster.

    A Will signed and witnessed in another state is usually valid in Georgia.  If you have moved to Georgia from
    another state it is wise to have your will reviewed by a Georgia attorney to ensure that it is properly executed
    and that the executor is qualified in this state.  An improperly executed Will is void.

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Deming, Parker, Hoffman, Campbell & Daly, L.L.C.
Attorneys At Law Since 1974    
770-564-2600 Metro Atlanta  912-527-2000 Savannah
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