If you own property in another state, you don’t need a second estate plan. However, your current one may need a few key updates to work across state lines. Here’s what you should know before it becomes a problem for your family. Owning property in another state can...
You own rental properties, and you are ready to work on your estate plan. A friend suggested forming an LLC first, claiming it makes inheritance easier. But does it? The truth is, forming an LLC before estate planning can sometimes complicate the process of...
A good estate plan brings peace of mind, but you should not keep it the same forever. Life changes fast. Alabama families often reach a point where they need to review their documents again. Regular updates help your wishes stay in line with your current life, your...
Not all children turn out as their parents hope. Sometimes that is down to the child, sometimes it is down to the parents' preconceptions about how their child should be. And sometimes, it's a mixture of things, with both parties partly to blame. It’s therefore...
Many Alabama families want to pass their homes, savings and property to the next generation. But they worry about costly legal delays and confusion that could take away what they worked for. Planning gifts while you are still alive can protect your family. It makes...
When preparing your estate plan, the legal process can be overwhelming and confusing. The terms "will" and "trust" are often confused, but this misunderstanding can lead to costly mistakes for your family. Understanding the difference between wills and trusts can help...
When someone dies, their estate doesn’t automatically transfer to their loved ones. In most cases, the estate must go through a court-supervised process known as probate before the assets are distributed to the beneficiaries. It’s a necessary safeguard to help ensure...
As you draft your estate plan, you certainly can leave equal bequests to all beneficiaries that you name. You can split up all of the tangible assets, like family heirlooms, as evenly as possible. You can split up financial assets perfectly down the middle between two...
Many people perceive estate planning as complicated, but at its core, it is simply the process of deciding what happens to your assets, debts, and personal matters when you pass away or if you become unable to manage them yourself. Estate planning ensures your wishes...
Here in Alabama, the “age of majority,” which is the age a person is legally considered an adult, is 19. That means if you have a child who has reached that age or soon will, it’s time for them to prepare to put an advance directive for health care in place. This...
