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AL Estate Planning & Elder Law Blog

Thursday, February 15, 2024

Does the Corporate Transparency Act Impact Estate Planning Needs?


Did you know the Corporate Transparency Act (CTA) went into effect on January 1, 2024? Are you familiar with what it is? This Act represents a significant shift in the way reporting companies in the United States must disclose their beneficial ownership information. As an Alabama estate planning law firm, we know how crucial it is to both understand the implications of this Act and share this with our clients, especially in the context of business succession, mergers, acquisitions, and the administration of estates.

To begin, it is important to know that the CTA aims to curb illegal activities like money laundering, tax evasion, and financing of terrorism by enhancing transparency in the ownership of legal entities.
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Thursday, February 8, 2024

Key Ways a PreNuptial Agreement Can Benefit Your Estate Plan


Does it seem that remarriage represents not just a union of hearts but a complex merging of lives, assets, and families? Often the romantic aspect is the focus, however, the practical and legal implications are equally critical to address. This is especially true for those who have accumulated substantial assets, own businesses, or have children from previous relationships. 

When deciding to remarry there is a need for careful consideration regarding how this union will affect your financial and familial future. Alabama estate planning, including the consideration of a prenuptial agreement, is not just a suggestion but an important step in protecting and clarifying the future of your assets and legacy.

As you enjoy finding love again and building a new life together, be sure to take the responsibility of being sure that all parties involved are protected and that the intentions for one's estate are clearly outlined.


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Monday, January 15, 2024

Exploring Umbrella Coverage, Specialty Insurance Policies, and Essential Estate Planning


Have you thought about reviewing your insurance needs as the New Year begins? In fact, you may need to think about a range of insurance policies beyond the usual house and auto insurance. In our Alabama estate planning law firm, we believe it is important for our clients and community to know about the importance of comprehensive coverage. This coverage may include umbrella coverage, luxury policies for valuables, long-term care insurance, and specific business policies. We would like to give you a few reasons why these may be necessary and how they can tie into your overall Alabama estate planning strategy.

To begin, we will start with umbrella insurance.
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Monday, January 8, 2024

9 Proactive Strategies for Effective Estate Planning in the New Year


Did you know that the New Year is the perfect time to reflect on your life and make plans for the future? Starting your Alabama estate planning may not be the first thing you think about, but it is certainly critical for making sure that your wishes are honored and your loved ones are taken care of.  We would like to review nine proactive strategies for effective Alabama estate planning in the New Year with you.

1. Find your Alabama last will and testament or trust agreement where you stored it and go over it. As we all know, life changes.


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Monday, December 18, 2023

Did You Know There May Be Times Your Alabama Power of Attorney May Not Work?


As an Alabama estate planning law firm, we often emphasize the importance of having a power of attorney (POA) as a fundamental part of your Alabama estate plan. It is crucial to understand, however, that there are certain situations where a power of attorney may not work as intended. This understanding is essential for ensuring that your wishes are honored and your affairs are managed effectively in case you cannot do so yourself. Let’s explore some of these scenarios and discuss why working with an experienced Alabama estate planning attorney is vital in navigating these complexities.

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Tuesday, December 5, 2023

5 Steps to Take Right Now If a Loved One Falls During the Holidays


The holiday season, a time for joy and family gatherings, can be suddenly overshadowed when an elderly loved one experiences a fall. Such incidents are not only alarming but can also signify underlying health issues or the need for long-term care. As an Alabama elder law firm, we understand the complexities this situation presents, and we are here to guide you through the essential steps you should take if your loved one falls during the holidays. We have 5 steps for you to take right now if a loved one falls during the holidays.

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Tuesday, November 21, 2023

6 Tips You Need to Successfully Plan for Alabama Medicaid and Long-Term Care


As you age and think about your future are you concerned that you may need someone to care for you or need Medicaid or some type of long-term care? Have you completed any planning for the future, including long-term care?   Actually, with less than half of all Americans today having an estate plan, it is not surprising that even fewer have planned for their long-term care needs. Long-term care planning, or elder law planning, addresses the need for a possible future when you may need to rely on another person each day due to physical impairments or mental cognitive issues.
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Tuesday, November 7, 2023

Warning Signs Your Loved One with Alzheimer’s Disease Can No Longer Live Alone


Alzheimer's Disease is a formidable adversary, characterized by memory loss, cognitive decline, and various behavioral changes. As the disease progresses, individuals may reach a point where living alone is no longer safe or feasible. Recognizing the warning signs early can lead to more proactive care and reduce the risk of accidents or significant health issues. 

Alongside assessing these signs, consulting an Alabama elder law attorney can be invaluable in helping families navigate the complexities of finding and funding suitable care. During November, when Alzheimer’s Disease is recognized nationally with National Alzheimer’s Disease Awareness Month, we want to help you better understand what you are facing.
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Monday, October 9, 2023

Tips, Guidance, and More for the 2023 Medicare Open Enrollment Period


Are you an Alabama senior on Medicare? Are you aware that the Medicare Open Enrollment Period is coming up? As an Alabama elder law firm, we understand the significance of the Medicare Open Enrollment Period for our clients' healthcare and financial well-being. Each year this event takes place from October 15th to December 7th and prompts numerous questions from Alabama seniors seeking to make informed decisions about their healthcare coverage. We want to address some frequently asked questions related to the Medicare Open Enrollment Period to equip you with valuable insights to assist you in your annual plan review.
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Monday, October 2, 2023

Is a Power of Attorney Necessary in Alabama Even When I'm Married?


Are you aware that in Alabama, couples often find themselves questioning the extent of authority a spouse possesses over their partner's affairs, especially concerning legal decision-making? A power of attorney (POA) is a legal instrument that empowers one individual to act on behalf of another, covering financial and healthcare matters. However, the misconception that marriage automatically bestows a spouse with a power of attorney requires clarification, particularly in the state of Alabama.

A power of attorney is a legal document designating an "agent" or "attorney-in-fact" to act on behalf of the "principal." This authorization can encompass a range of matters, from financial and legal to healthcare and specific issues. Importantly, a POA does not confer co-ownership or grant the agent automatic decision-making power, even within the context of marriage.
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Monday, September 11, 2023

How to Steer Clear of Common Errors in DIY Estate Planning


Are you planning now to create your Alabama estate plan? That is excellent news. Deciding to create an Alabama estate plan is a life changing decision. By creating an estate plan you are being proactive to not only make a plan to create your legacy but also to protect yourself and those you love during your lifetime and at the time of your passing. Now, an essential part of your Alabama estate planning is creating a last will and testament. It is critical that this document is created correctly to ensure your final wishes and goals can not only be achieved but are carried out smoothly.
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