AL Estate Planning & Elder Law Blog

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.

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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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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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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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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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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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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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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Have you recently welcomed another new addition to your family with the birth of another child? Do you look with amazement at how your family has grown? With that said, have you kept all the births of your children updated in your Alabama estate plan? You are well aware that the birth of a child is a life-changing event that brings new responsibilities and considerations for you and your spouse, whether it is your first child or your fourth. We know that you, as parents, have so much to do, but it is so very important that updating your Alabama estate plan be at the top of your to-do list. You need to be sure that not only is this new addition to your family provided for and protected from uncertainty, but also all your children as well.

So, how do you start? This may depend on whether you will be creating an estate plan for the first time or amending an existing estate plan. When you are creating or updating your existing Alabama estate plan it is critical to reach out to your experienced Alabama estate planning attorney to obtain his guidance on what you need to do now.

Are you a senior living in your own home in Alabama? Should you consider a medical alert system? As a senior are you concerned about health-related emergencies, especially a fall? Then a medical alert system could play a crucial role in providing emergency assistance and perhaps even save your life. Be aware that these life-saving technologies usually involve tools such as a wearable pendant, lanyard, bracelet, or phone app and include an emergency call button. 

So how do these medical alert systems protect Alabama seniors who choose to use them?  The alert device that the medical alert system provides can, when activated during a health crisis, send a signal for immediate medical assistance. Depending on the system, it can:

• Automatically contact 911,

• Connect the senior with a live agent from a care control center through a two-way intercom, and 

• Respond with a swift and appropriate response.

Is there anything more that can be included? In most circumstances, the answer is “yes.

Did you know that the majority of Americans, even those with large assets, fail to take the critical steps needed in order to plan for what comes next in the event of their incapacity or death? It is very important to create a legacy that will protect the wealth you have amassed for yourself and your loved ones. When you work with an experienced Alabama estate planning attorney, he can show you the value in designing the legacy you want to create for both future generations and what you care for most.

In addition, your experienced Alabama estate planning attorney can advise you on the strategies for generational wealth transfers in your Alabama estate plan. Transferring generational wealth in an Alabama estate plan refers to the process of legally and strategically passing on assets, investments, properties, and other forms of wealth from one generation to the next within a family. These are strategies that not all Alabama estate planning firms specialize in as they involve strategically planning for not only the here and now, but require the firm to keep a careful watch on the laws and tax rules that could unravel the estate planning that has been carefully created.