A Georgia couple may think that they do not need to make any financial or legal plans because they are young, do not have kids or are not wealthy. In reality, estate planning, including wills, is a smart choice for couples of all income levels and ages. Lack of planning can lead to complications in the future, and it’s never too early to have legal and financial protections in place.
Before drafting a will, a couple will want to think about what assets they have that they should account for in their plan. This includes things like physical assets, such as a home, as well as intangible assets, like savings accounts, digital rights and more. After making a list of the things they should address in a will, it’s then smart to go ahead and think about beneficiaries, which would be the people or organizations that would receive estate assets after a person passes away.
This is when it’s appropriate to move forward with drafting a will. Even a basic will can be offer protections and security for a Georgia couple. Each will is different, and it’s possible to custom-tailor one to meet individual needs and objectives. Taking the time to do this now can save time and money in the future.
Estate planning, including drafting wills, trusts and other steps, is a good way to establish security and stability long-term. It can help to start with a complete evaluation of the individual case and assessment of a couple’s individual needs. It’s is never too early or too late to move forward with this process.