Retirement is a time when people often start thinking about their legacy and what they will leave behind for their loved ones. Estate planning is an essential part of retirement planning in Alabama that can ensure that your assets are distributed according to your...
Administering the estate of an Alabama loved one who has passed away can be a difficult task, whether you have been named as an executor in the decedent's will or appointed by the probate court. It includes gathering assets, paying outstanding debts, filing tax...
In Alabama, the executor of a will is responsible for carrying out the instructions and distributing the deceased's assets according to the will's terms. However, if the executor fails to perform their duties correctly or is suspected of misconduct, the will's...
Not everyone understands what an estate involves. Many assume that an estate refers to the assets of a deceased person who had a high net worth. That's not an accurate definition, as people of even modest means have an estate when they pass away in Alabama....
Over the course of your life in Alabama, you may have accumulated significant assets. It's natural to want to pass those assets along to family, charity or perhaps some combination of the two. It's important to keep in mind that estate taxes can potentially take a big...
Setting up a trust fund in Alabama can help preserve your assets in a number of situations. The assets protected by trust funds can include those you intend for charities as well as ones meant to support your retirement funds and more. The federal tax code and state...
Estate planning in Alabama is often associated with older or extremely wealthy people, and millennials often do not consider themselves to be part of either demographic. For this reason, millennials may scoff at the idea of having an estate plan. But there are many...
Estate planning might seem like a complicated process for most Alabama residents. Most people want to make sure they’re leaving their loved ones with more than enough to take care of things after they’ve passed on. But the reality is that the money you set aside now...
Estate planning is a great way to make sure your loved ones are looked after and protect your assets if you become incapacitated or die. However, many people neglect to plan for their own incapacity, which can have serious financial consequences. The cost of long-term...
Even people in Alabama who are careful about their estate planning may sometimes make mistakes with beneficiary designations. It can be easy to overlook these or to not understand how they fit in with the rest of the estate plan, but because beneficiary designations...
