What You Need To Know About Wills And Trusts

As humans, we can’t accurately predict the future. However, we do have the ability to lower risk by creating plans to protect ourselves and those we love. Generic “one size fits all” estate plans from online vendors rarely provide the nuanced strategy needed to provide comprehensive protection in your unique circumstances. Hiring a Georgia estate planning attorney to help you develop these legal protections increases the likelihood you will be able to protect your home, provide care for minor children if something happens to you, or pass on the assets you’ve accumulated throughout your life efficiently.

Scott K. Camp, LLC, has worked with estate planning clients throughout west Georgia for over 20 years. Our founding attorney takes the time to help you understand your options and discuss potential solutions, including wills, trusts, advance health care directives or powers of attorney. We can help you make informed decisions today to provide clear directions for what might happen in the future.

Do I Need A Will, A Trust Or Both?

Most adults can benefit from estate planning, even if they haven’t married, had children or bought a house. An experienced attorney can speak with you and offer suggestions for the estate plan that fits where you are in life.

Almost every adult needs a will, which clearly outlines their wishes for what to do with your assets after they pass away and how to care for minors or vulnerable adults in their care. If you die without a will (intestate), a judge will decide who gets what based on state law. This may not align with your intentions, so having an attorney help you create a valid will is essential to giving yourself and your family peace of mind.

If you have accumulated significant assets, such as a house, retirement account or substantial savings, a trust can help you transfer them to the next generation. There are often tax breaks and benefits that can be used to your advantage. Trusts must be drawn up and funded carefully, something a qualified estate planning attorney can help you with. They can help you select the right kind of trust for your needs and oversee its setup so it will function properly when the time comes to distribute assets to the beneficiaries.

Here is a chart that explains how wills and trusts operate.

	Will	Trust
Primary Goal	Asset distribution after death	Asset management, privacy
Impact Of Probate	Wills must be probated in court	Avoids probate entirely when created properly
Privacy	Public record when it goes through probate court	Documentation and bequests say private
Best For	Assigning guardianship for minor children	High assets, tax planning

Our attorney can walk you through how a will or a trust could work within your estate plan, and help you plan ahead for any contingencies that may change over the course of your life.

How Georgia Law Impacts Your Estate Planning

Generally, state law governs how trusts, wills and other estate documents work. In Georgia, our attorney can guide you through issues directly related to state law, such as the self-proving affidavit for wills, which creates a default assumption that your document is valid and eliminates the necessity for the will to be signed by two witnesses.

Attorney Camp can also discuss with you the specific requirements of the Probate Court Of Douglas County for your will. The probate court has its own set of fees and specific tasks you must accomplish to complete probate successfully, including providing actual bank statements or certified holding statements instead of just summaries of the accounts. We can show you where local probate court requirements differ from state-level probate forms and review your probate case to ensure everything is in order.

Frequently Asked Questions About Wills And Trusts

Here are some of the most common questions we receive about estate planning and will and trust creation in Georgia.

Can you help me update my existing will or trust?

Yes, we regularly help clients update their existing wills and trusts to reflect changes in their lives and circumstances. Life events such as marriage, divorce, birth of children, death of beneficiaries, significant changes in assets or relocation often require modifications to your estate planning documents.

For wills, updates can be made through a codicil or by creating an entirely new will that revokes the previous version. For trusts, amendments can be made to revocable trusts relatively easily, while irrevocable trusts may require court approval depending on the circumstances.

We recommend reviewing your estate planning documents every three to five years or after any major life event to ensure they continue to meet your needs and comply with current Georgia law.

How can I ensure my minor children are cared for if something happens to me?

In your will, you can name a guardian who will be responsible for raising your children if both parents die or become incapacitated. You should also name an alternate guardian in case your first choice is unable to serve.

You can establish trusts to manage financial assets for your children’s benefit until they reach adulthood. This ensures that funds are available for their care, education and other needs while protecting the assets from mismanagement. Consider purchasing life insurance to provide adequate financial resources for your children’s care.

Can I include digital assets in my will or trust in Georgia?

Yes, Georgia law allows you to include digital assets in your estate planning documents. Digital assets include online accounts, cryptocurrency, digital photos, social media accounts, email accounts, cloud storage files and any other electronic records you own.

You should create an inventory of your digital assets and include instructions for accessing them in your will or trust. Consider appointing a digital executor who is tech-savvy and can handle these assets appropriately.

How much does it cost to create a will or trust in Georgia?

The cost varies depending on the complexity of your estate, the type of documents needed and your specific circumstances. Simple wills typically cost less than complex trusts for high net worth individuals. We provide transparent pricing and will discuss costs during your initial consultation based on your specific needs.

Call Today To Learn More

Without a will or trust in place, your loved ones will face numerous difficulties. Don’t leave your family’s future to chance. Call 770-249-5734 today for a confidential review of your estate planning needs. You can also fill out our contact form.