How Much Will Georgia Probate Cost Your Family When You Are Gone?
Probate in Georgia is a mandatory court process to administer any estate valued over $150,00. This process is required even if the deceased had a Will. A judge will need to ensure that the Will is current and valid, while officially giving power to the named Executor to start the process of administering the estate. If the decedent did not have a Will, the court will appoint a Personal Representative and assets will be distributed according to Georgia law.
The only assets that avoid the probate process in Georgia are those held in Trust or assets that have named beneficiaries, such as life insurance policies or 401(k)s.
Warning: Probate can cost your family more than you realize!
The process can take anywhere from a few months to a few years to complete.
Your heirs cannot take legal possession of your assets until probate is finished.
In some cases, bank accounts and other assets that your family may depend on to pay bills could be frozen by the court.
Most importantly: probate can be EXPENSIVE. Not only are there court fees, but in most cases, families need the assistance of an attorney to complete the probate process. It could cost as much as 7% of your family’s inheritance by the time they are finished!
What will my family pay in probate fees?
Our probate calculator can provide you with a general idea of the fees that may be owed on property subject to probate, including the value of real estate, business interests, investments, bank accounts, and personal property.
Will your heirs be left with far less than what you expected because of probate costs?
The good news is, you can help your family avoid the entire probate process just by planning ahead! Not only will planning save your heirs thousands of dollars in legal fees, but it will equip your heirs with the tools they need to help you if trouble arises during your lifetime, such as an unexpected disability or the inability to manage your affairs due to age.
Planning now to avoid probate will also ensure that your heirs have immediate access to their inheritance without court interference or unnecessary red tape.
Lastly, by planning to avoid probate, you can help ensure that the details of your estate and what your family stands to inherit stays private and out of the public record for everyone to see.
To learn more, register for one of our free workshops or schedule a consultation with us by calling 770.693.2426.