A person’s estate plan can cover a wide array of topics, and the essential parts of the plan may not only be a will or another similar document. A variety of important papers can play a part in estate planning, but it can sometimes be difficult to know exactly what is relevant. Family members in particular may not know what is meaningful when it comes to handling the affairs of an incapacitated loved one or when it is time to probate an estate. To avoid difficulties, it is wise for Georgia residents to get these papers in order beforehand.
Though each person may have a different view of what is important in regard to their estate planning information, some documents can provide vital information to loved ones should they need it. Some papers to gather and put in order include the following:
- Personal papers that include information with the person’s full name, birth date, birth location, place of residence, phone numbers and other similar details
- Legal documents like advance directives for health care, trust documents, a will, power of attorney information and more
- Financial records relating to retirement accounts, debt, asset ownership documents, bank account information, social security and Medicaid records, life insurance, and tax returns
Having this information organized and putting it in a safe place could better ensure that family members can find it when needed. It is also prudent to tell the necessary loved ones where the documents are kept. This can save much time and effort in the future when these documents need to be quickly accessed.
If Georgia residents are unsure what steps would best help them get their affairs in order and what important papers they may need, planning early can help them ensure that they have time to get everything together. Each estate and individual is different, so what is essential for one person may not be for another. Fortunately, experienced estate planning attorneys could help interested parties create plans unique to their specific needs and wishes.