#ESTATE AND DOCUMENT PLANNING CHECKLIST HOW TO#

When establishing such information, the principal will consider the execution of a living trust, a last will and testament, or a combination of the two. The main purpose of the document will be to define the beneficiaries and to describe the assets each is entitled to receive. Benefits from governmental programs or civil or military service Ī document outlining the distribution of the principal’s estate will need to be created.Estates, trusts, and other beneficial interests.Banks and other financial institutions.Signing Requirements – Must be signed and attested by the principal in the presence of one (1) or more witnesses and a notary public.Like its title indicates, a financial agent will be responsible for looking after the principal’s finances while they are incapacitated or otherwise incapable of making competent decisions.ĭurable (Financial) Power of Attorney – A document containing the language and provisions necessary for the principal to legally nominate a financial agent. The information provided in the guide below will assist individuals through the Georgia estate planning process to ensure that their interests are communicated as they approach the later stages of life.Īfter the principal has secured their medical interests by appointing a health care agent, they will need to do the same for their financial interests by choosing a financial agent. Create a Living Trust and/or Last Will and Testament.

#ESTATE AND DOCUMENT PLANNING CHECKLIST HOW TO#

How to Create an Estate Plan in Georgia (6 steps) A Last Will and Testament and/or a Revocable Living Trust can be used to ensure that the principal’s estate will be appropriately distributed following after death. These documents will ensure that their well-being and finances are cared for in situations where they cannot speak or are incapacitated in such a way that they are unfit to make decisions on their own behalf. The owner of the estate (the principal) will first create an Advanced Directive for Health Care and Durable (Financial) Power of Attorney. A Georgia estate planning checklist provides the building blocks needed to protect one’s assets in the event of a medical emergency or death.

Estate and document planning checklist