Category: Estate Planning and Probate
PARENTS CAN PLAN FOR THEIR CHILDREN’S CARE THROUGH WILLS
The purpose of estate planning in Alabama is to plan for people’s deaths. While people can lose their lives at any point in time, it is generally something most younger people do not expect to happen for many years. Due to this fact, estate planning is not something younger people make a priority. Additionally, younger people may…
WHEN SHOULD I CONSIDER UPDATING MY ESTATE PLAN?
Estate planning helps you prepare for what is ahead. But it’s also an ongoing process. You may need to update your estate plan to reflect the changes that have taken place in your life since you put your signature on your plan. MILESTONES IN LIFE Certain benchmarks should merit the estate planner reviewing their estate plan. These…
COMMON TRUSTS THAT YOU MAY WANT IN YOUR ESTATE PLAN
There are a lot of ways to go about developing your estate plan. Although that should give you comfort knowing that you can custom tailor your plan to suit your needs, a lot of people find the process completely overwhelming. To them, there’s simply too much to learn and the matter doesn’t seem urgent enough…
INCORPORATING CHARITABLE GIVING INTO AN ESTATE PLAN
Many Mobile area residents find it important to give back to others. Whether it be through their time or donations, area nonprofits always appreciate the help. Another way to help a favorite charity is to include it in your estate plan. WHAT IS A CHARITABLE REMAINDER TRUST? Including charities in an estate plan is a way…
PREPARING FOR THE FUTURE WITH ESTATE PLANNING
It is a big step to start thinking about the future when you are at the beginning of the estate planning process. Many people put this process off for much longer than they intend to. But, once you get around to it, you’ll likely appreciate the peace of mind that comes with having a comprehensive…
WHAT DOCUMENTS ARE IMPORTANT TO INCLUDE IN AN ESTATE PLAN?
An estate plan helps to take care of the concerns of estate planners to ensure they and their loved ones are cared for. For that reason, it is important for estate planners to have a comprehensive estate plan and to know what to include in it. WILLS AND TRUSTS A will is used to transfer the estate…
UNDERSTANDING ADVANCE MEDICAL DIRECTIVES IN ALABAMA
No one likes to imagine themselves being struck down by an accident or sudden medical condition. But the reality is that, if it happens and you become incapacitated, medical decision could be made that you would not agree with. The answer to this problem is an advance directive. WHAT IS THE PURPOSE OF AN ADVANCE…
CAN I USE JOINT OWNERSHIP INSTEAD OF A POA?
For some of us, our parents have told us that we have a power of attorney for our parents that become effective if they become incapacitated or die. Indeed, a POA is a needed estate planning document for everyone, especially as it relates to medical decisions and care, should one become incapacitated. However, recently, some…
TESTAMENTARY CAPACITY AND HOW IT IMPACTS ESTATE PLANNING
Estate plans are important for the future. Although Alabama residents may not want to think about what will happen to their property and assets when they die, they should know that through estate planning they can take control of those outcomes and ensure that their preferences are respected. Devices like wills, trusts, and powers of…
ESTATE PLANNING CONSIDERATIONS FOR LGBTQ+ COUPLES
Estate planning is important for all families in Mobile. A well-rounded estate plan can allow you to pass your assets on to your chosen heirs, can outline what end-of-life care you wish to receive and can dictate who is to make medical decisions and handle your finances if you become incapacitated. LGBTQ+ couples sometimes face…