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Estate Planning law in Tbilisi, Georgia revolves around preparing for the management and disposition of a person's estate in the wake of their incapacitation or death. It encompasses various aspects such as drafting wills, designating beneficiaries, and setting up trusts. It's essential for those who wish to handle their properties wisely and ensure their loved ones' financial security after their death.
Consider hiring an Estate Planning lawyer when:
1. You have sizable assets or a complex estate that needs careful planning.
2. You have specific wishes about healthcare or end-of-life decisions and want someone to act on your behalf.
3. You need to designate guardians for minor children or dependents with special needs.
4. You want to protect your estate against potential liabilities, taxes, or other financial concerns.
Georgian inheritance law is dictated by the Civil Code. Here are a few key highlights:
1. Assets are divided equally among heirs if there's no will.
2. Will writing in Georgia can be done orally or in writing, though written wills are more legally airtight.
3. Spouses and children can't be completely disinherited under Georgia law.
4. If there are no immediate heirs, the estate goes to the extended family, then to the state.
A will is a legal document outlining how an individual wants their assets distributed upon their death.
Yes, a will can be changed or revoked at any point during a person's lifetime, provided they are mentally competent to do so.
If an individual dies without a will, the state's laws of intestacy take effect, dividing assets among living relatives.
A trust is a legal arrangement where an individual or institution, known as a trustee, holds and manages assets for the benefit of another person, the beneficiary. You might need one to manage assets for minor or disabled beneficiaries, avoid probate, or help with tax planning.
It's recommended to have an explicit, professionally drafted will and regularly review it to include any changes in circumstances. Clear communication with family and beneficiaries also helps.
For additional help, you may wish to consult the Georgian Civil Code or the National Notary Chamber of Georgia. Non-Government Organizations offering advice on will and estate planning also exist, and many law firms in Tbilisi specialize in this field.
If you need legal assistance for Estate Planning, start by finding an experienced lawyer. They will advise you based on your unique circumstances and help draft or update essential documents. Be sure to review your plans regularly to keep them in line with your current assets and wishes.
