More than half of all adults lack an estate plan, according to the AARP. Some people in Georgia may think they do not need a plan because they have few assets or no family. However, one function of an estate plan is appointing agents to handle any legal or financial matters in case incapacitation becomes an issue. This could be important for people at all income levels.
Everyone needs an estate plan
There is a common misperception among many that estate planning is a sophisticated process that wealthy people use to make sure their surviving spouse, children, and future generations will be taken care of. And while it is certainly true that the larger and more complex an estate is, the greater potential benefit can be derived from careful and prudent planning, it is also true that every Georgia resident should explore the various estate planning tools to understand how they can work for the individual's specific needs.
