A Look at Georgia’s New Estate Planning Law
One of the three essential documents that every estate plan should include is a Last Will and Testament, commonly referred to as a will.
A will is a legal document in which a person specifies how their assets should be distributed after death. This document can also be used to name a guardian for any minor (children under the age of 18). The executor of the will helps ensure that a person’s property is passed to the beneficiaries according to that person’s final wishes.
The Georgia Legislature adopted House Bill 865 in June 2020. The law is into effect from January 2021. The new law reads, in part, “The writing may be referred to as one to be in existence at the time of the testator’s death; it may be prepared before or after the execution of the will; it may be altered by the testator after its preparation, provided that it is signed and dated on the date of such alteration” (OCGA § 53–4–5). In other words, it is lawful that include a written document along with your will, as long as the will appropriately identifies and describes that document. The document can be included while the will is being executed. The document can also be updated at a later date without having to go through the process of executing a new will.
….
