A trust is a legal document that can help protect assets during and after an individual has passed away. With the right trust, an estate could be protected from probate, estate taxes and disputes. Many kinds of trusts can be added to an estate plan, such as a...
One reason it’s wise to begin putting an estate plan in place even if you’re nowhere close to the age where you can collect Social Security is that some key estate planning documents address situations in which you are seriously ill or injured and unable to speak for...
A will is the cornerstone of any estate plan. This is a legal document that instructs how your assets should be divided upon your death. However, a will is so much more than this. It can carry out a host of functions- some of which may come as a surprise. Here’s what...
Families tend to respect the terms that individuals set in their wills. The presence of estate planning documents during the probate process usually indicates that there's less risk of conflict. Unfortunately, sometimes the estate planning documents themselves become...
Once you create a will, you can change it as few or as many times as you like. Most people will need to change theirs at least a few times. It could be because you want to include someone new, such as a new spouse or child. Or because you want to remove someone, for...
In today’s interconnected world, the digital aspects of one’s life are becoming nearly as important to consider as their physical assets when planning for the future. As such, when it comes to estate planning for physical assets, digital assets should also be...
Estate planning may start with major financial assets. Bank accounts. Investment portfolios. Cryptocurrency. Expensive tangible assets, like real estate. These are some of the major areas that you likely want to address as you decide how you will transfer the assets...
Trusts are versatile legal instruments used in estate planning. Each of these are tailored to meet specific needs and goals. They can pass down assets to beneficiaries without having to go through probate court. There are many different types of trusts. These three...
Creating an estate plan requires thinking about several aspects of your life. While many people focus on assets and how to pass those down to their loved ones, they also need to consider what will happen if they become incapacitated. If you’re incapacitated, you’ll...
During the holidays, people put down their work and obligations and come together with their loved ones. It's a time for celebration, relaxation, nourishment and reflection in Alabama and elsewhere. However, you may want to reflect and think about your estate plan,...
