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Transferring your assets to loved ones upon your passing can be a challenging and time-consuming process due to the complexities of the legal system. Fortunately, with the right preparation, you can use estate planning laws to your advantage and skip the various hurdles. Follow these steps to protect yourself and your family down the road. 

How to Plan Your Estate

1. Inventory Assets

From cars and houses to savings accounts and IRAs, the average person has a long list of assets. To avoid overlooking anything, sit down and make a full list of them so that you know what you're working with. Be sure to include both physical properties, like homes and rentals, and intangible assets, like life insurance. 

When compiling your list, include pertinent details, such as account numbers and holding firms or organizations. Additionally, provide information regarding the location of any necessary documentation, like a house deed or car title. 

2. Create a Will

estate planning lawsA will is key to ensuring your wishes are honored after your passing. Under estate planning law, the document serves as a directive for the separation and transfer of your belongings and capital. Utilize your inventory list as a starting point and determine who should inherit each account. 

It’s important to plan for a variety of circumstances. A living will allows you to outline your desires if you're unable to make decisions due to a medical issue such as a coma. You should also choose a power of attorney and designate a health care proxy to make decisions on your behalf. 

3. Transfer Property & Assets

Even with a detailed will in place, probate law requires estates to go through the courts. The assets are essentially put on hold to give creditors and anyone wanting to contest the will an opportunity to come forward. The process can extend between a few months and a few years, depending on the circumstances. 

Thankfully, there are a few different ways to keep your loved ones out of probate court. First, creating a trust legally moves the assets out of your name and into a separate entity. By naming yourself as the trustee, you maintain control of the property until your passing. Alternatively, you can add loved ones onto certain accounts to make them the owners upon your death. 



If you need guidance with the estate planning process, reach out to the team at Dyer & Rusbridge, P.C., in Canton, GA. With more than 50 years of combined experience, the local attorneys serve the needs of residents throughout Cherokee County. The firm provides assistance in all areas of estate planning law, including wills and trusts. Review their full list of practice areas online, or call (770) 479-7418 to book a consultation.

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