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Estate Planning

Monday, April 18, 2022

3 Ways DIY Estate Planning May Backfire on Your Beneficiaries

Do you enjoy do-it-yourself projects? Are you contemplating a new project of do-it-yourself estate planning?  Do you believe that it is probably better to DIY an estate plan than to not have an estate plan at all? Unfortunately, this may not be true. By writing your own estate plan, without seeking counsel from a qualified Alabama estate planning attorney, you may run into a lot of issues in the future.


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Tuesday, January 4, 2022

4 Questions to Ask When You Update Your Estate Plan in the New Year

With the arrival of the new year and as the month of January gets underway, did you know many people in Alabama are focusing on how they will reach the resolutions they set?  What resolutions did you set? Did you focus on work or health or family or all three?


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Tuesday, December 7, 2021

The Best Gift You Can Make This Holiday Season

Can you believe that in just a few short weeks, it will be 2022? The end of the year is quickly approaching. We realize that the pandemic continues to add a layer to everything but, for most of us, we are busy finalizing our end of the year plans, purchasing last minute holiday gifts, and making arrangements to spend time with family. As you reflect on your goals for the coming year, this is the perfect time to take stock of what has happened this year.  What went well? What could we improve on?


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Tuesday, October 5, 2021

3 Estate Planning Tips You Need to Be Protected During Estate Planning Awareness Week

Estate planning is critical for anyone who wants to help ensure their wishes are respected in the event of temporary incapacitation or upon their death. Despite the important role estate planning plays in our lives, did you know less than 50% of Americans have an estate plan in place? This is a terrifying statistic when we know just how important making a plan is for your future, especially during the Covid-19 pandemic.

None of us know what tomorrow might bring and having an estate plan that you develop with your estate planning attorney can provide security. Do you already have a plan in place? Don’t forget you may need to update it. In fact, when you regularly update what you have put in place with your attorney you can help ensure that security will continue.



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Tuesday, August 17, 2021

The Importance Of Incorporating A Prenuptial Agreement Into Your Estate Plan


A prenuptial agreement is an agreement entered into between future spouses regarding ownership and distribution of their present and future assets. Have you thought of a prenuptial agreement as a plan for divorcing even before the marriage takes place? A prenuptial agreement, however, can be a very important legal tool for couples in certain situations, including in the context of estate planning.  


A prenuptial agreement does not just set forth how assets will be distributed upon divorce, it may also address the distribution of assets upon a spouse’s death.
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Tuesday, July 6, 2021

Key Reasons Why You Need to Update Your Estate Plan When You Move to a New State


 

Does your out of state move involve a to-do list a mile long? It often does. If you are moving out of state, does your checklist include updating your estate plan? It should. Let us discuss the key reasons why you need to update your estate plan when you move to a new state.


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Tuesday, June 1, 2021

Estate Planning Tips to Consider When You Near the Proposed Tax Limits


Have you heard of the saying that the only thing certain in life is death and taxes? Did you know that not planning for death, or inheritance taxes, may leave your estate open to significant taxes, as high as forty percent of your estate? Let us review some estate planning tips to consider when you near the proposed tax limits.


Starting with a bit of good news, Alabama does not have an estate or death tax. This means that upon your passing, your estate will be subject to zero state estate tax.


Read more . . .


Tuesday, April 6, 2021

Three Reasons To Consider Including A Pet Trust In Your Estate Plan


There may be many frequently discussed components of estate plans, including the division of assets from your home, to your bank accounts, to family heirlooms and of course, for the parents of minor children, designation of a guardian and assets for the children. Have you considered, however, how your four-legged or other beloved pets will be provided for? Let us discuss three reasons to consider a pet trust in your estate plan.


  1. A pet trust can help  prevent your pet from being placed in a shelter. Unfortunately, when the disposition of a pet is not provided for in the owner’s estate plan, the pet may end up in a shelter with an unknown future. By creating a pet trust, as the owner, you can provide that your pet’s care be entrusted to a friend or family member, who has agreed to become your pet’s new owner, or you can designate a caretaker to be overseen by the trustee of your estate.

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Tuesday, March 16, 2021

7 Questions to Ask Before Updating Your Estate Plan After Remarriage


 

 

 

 

Have you remarried after being widowed? If so, you may have special considerations for updating your estate plan that would not apply if your former spouse was still living and you had been through a divorce. Let us take a look at seven questions to ask your attorney before updating your estate plan after remarriage if you are a widow or widower. Have you remarried after being widowed? If so, you may have special considerations for updating your estate plan that would not apply if your former spouse was still living and you had been through a divorce. Let us take a look at seven questions to ask your attorney before updating your


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Tuesday, March 2, 2021

Think You Are Able to Avoid Probate? 3 Common Mistakes We See


Do you have an estate plan and think that is enough to avoid probate? You might want to think again. Many people are under the impression that because they have a carefully written will, or because they do not have large investment accounts, their estates will not have to go through the probate process. This is not always true.


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Tuesday, February 16, 2021

Using Your 529 Savings Plan as an Estate Planning Tool


Parents typically use a 529 savings plan to fund their child’s college education. Did you know, however, that there may be more ways to use a 529 savings plan? In fact, there can be many other ways to make the most of a 529 savings plan that can actually increase the amount of money available to spend on education. One of these is funding a 529 savings plan with the intent of making it part of your estate plan rather than using it in the near-term future.


Read more . . .


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