The 5 Most Important Estate Planning Documents

Planning for death may seem morbid, but it’s a necessity for most folks. Most people will likely only need four or five estate planning documents to establish a comprehensive estate plan. However, complex medical needs, capital structures, and real estate may require a bit more detailed planning.

How To Provide For Your Pet After You Die

How are pets factored into estate planning? In terms of the law, your pet is considered your property and, like your properties and assets, will be inherited by your heirs or beneficiaries. If you are wondering how to incorporate your pet into your estate plan, the following information can help ensure they are cared for after your death.

How To Avoid Family Disputes Over a Will

A will is one of our primary ways of ensuring that our loved ones are cared for after our death. However, in some cases, conflicts over inheritance can result in the exact opposite. For that reason, many parents want to learn more about the actions they can take to avoid family disputes over their will.

What’s the Difference Between a Probate Attorney and an Estate Planning Attorney?

If you have landed on this page, you may well know that estate law is complex. Only 33% of Americans have created estate planning documents to help their heirs distribute their property after death. It’s no surprise, then, that disputes arise in families and heirs quite often in the United States. Most of these disputes are between siblings and involve property or land. With such a breadth of cases, there are multiple areas of practice that attorneys focus on.

How Much Does an Estate Planning Attorney Cost? [2023]

Estate planning is an extensive and sometimes intimidating legal field. While you likely want to ensure that your estate ends up benefiting your loved ones, doing so can be a lengthy and tedious process. For that reason, many people choose to enlist the aid of an estate planning attorney.

How Long Does It Take To Create a Trust?

This article delves into the key elements that determine and impact trust establishment timelines, exploring the complexities involved and providing information on how an estate planning attorney can help streamline the process. Whether you are considering the establishment of a trust or seeking to deepen your knowledge of estate planning, understanding these factors is crucial to protect your financial legacy.

7 Tips for Writing an Explanatory Letter for Your Will

To clarify the content of your will, consider adding a letter prefacing your will in which you provide information regarding the inheritance of your estate or emotional reasoning for your decisions. In your explanatory letter, you (the testator or owner of the will) will have the chance to provide an explanation for your last wishes regarding your estate.

How Is a Revocable Living Trust Different Than a Will?

Estate planning is a complicated process, and there are many different options. One of the most common questions people have regarding estate planning is whether they should prepare a will, a revocable living trust, or both, and the differences between the two.

What Happens to My Debts When I Die?

Having debt in life is stressful enough, but can it follow you into eternity? Well, not exactly, but your debts do not just disappear when you die. Financial stress can be difficult, and the statistics can be rather gloomy. One Experian survey reported that 73% of U.S. citizens in 2016 passed away with some form of debt. Luckily, if you are reading this article, you still have time to plan. Read along as we go over the common types of debts and the associated laws and break down what an estate planning lawyer can do to ensure your assets go where you want and your family is taken care of. 

7 Steps To an Effective Estate Plan

To help you take proactive steps to secure your legacy, we present seven crucial steps to crafting an effective estate plan. By following these steps, you can ensure that your wishes are upheld, your loved ones are cared for, and your assets are distributed according to your desires.

When Do I Need a Lawyer for a Will or Trust?

In this article, we examine the compelling reasons why seeking the guidance of a lawyer for estate planning is essential. From minimizing tax implications and avoiding probate complications to ensuring proper guardianship for minor children, a lawyer specializing in estate planning brings expertise and knowledge to navigate the intricacies of the process.  

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Estate planning is subject to complex tax and estate laws. An estate planning attorney can help navigate wills, trusts, philanthropy and tax liability.

How To Hire An Estate Planning Attorney

10 Questions To Ask an Estate Lawyer After a Loved One’s Death

We have compiled a comprehensive list of the top ten questions you should ask an estate lawyer after a loved one’s death. These questions are intended to serve as a starting point for your discussion with an attorney, empowering you with the knowledge needed to make informed decisions.

The non-emergency number of the Birmingham Police Department is 205-328-9311.

To get a copy of a police report for a related incident in Birmingham, Alabama, you must send a request to the Records Division of the Birmingham Police Department, located at 700 2nd Avenue North, Birmingham, AL 35203. You can also contact the Records Division by phone at (205) 254-6308.

Yes. In Birmingham, there are ways to avoid probate. One approach is to draft an estate plan as soon as possible. Another alternative is to create living trusts or to have your estate held jointly. If you have an estate, consult an estate planning attorney to identify the best course of action for your assets.

If someone dies in Birmingham without a will, the persons who are deemed heirs are mostly the decedent's loved ones. Their spouse, children, parents, siblings, and other relatives are among them. To receive the intestate estate, a lawful heir must survive the decedent for at least five days. If there are no living relatives, the deceased person's property will be distributed to the state of Alabama.

The time it takes to probate a will in Birmingham depends on different circumstances (such as will challenges), but it usually takes between eight months and a year. The paperwork to get "Letters Testamentary" takes a month, and creditors have six months from the date they receive the notice to file their claims. Contact an attorney on how to plan for probate.

No. According to Alabama state law, a digital-only will is not lawful in Birmingham. Therefore. you must still print it and have it signed by the testator and two witnesses. It must also meet additional requirements, such as the creator of the will being at least 18 years old and of sound mind at the time of creation.

A divorce or annulment in Alabama will revoke any provision in your will that gives your former spouse power of appointment, appoints them to receive property in Birmingham, or nominates them as guardian, executor, or trustee. This only applies to provisions that do not explicitly state that they will remain in effect even after a divorce. The revocation takes effect immediately after the divorce is finalized.

An estate consists of the total assets that form an individual’s net worth, no matter how large or small. Estate planning attorneys use their in-depth knowledge of state and federal laws to help people best manage what will happen with their estates after they die or become incapacitated. Estate planning attorneys can prepare wills, form trusts, reduce estate tax burdens, and decrease or eliminate the need for probate court.

With the many intricacies of assets, taxes, and state and federal laws that can affect a person’s estate, an estate planning lawyer can be a valuable professional asset, no matter how large or small a person’s estate may be. An estate planning attorney can:<ul><li>Create a comprehensive plan to protect a client's legacy, that includes a will, power of attorney, trusts, life insurance, and advanced medical directives</li><li>Optimize an estate plan as tax laws, life events, assets, and goals change over time</li><li>Protect a client’s loved ones by preventing assets from entering probate</li><li>Help clients designate a person to make important health decisions for them if they become incapacitated</li></ul>

Estate planning attorneys can create trusts and wills. Through a will, an attorney can help a client designate their estate’s beneficiaries and assign an executor to represent the will in probate court. These attorneys can also create trusts, allowing a client to assign a trustee to oversee the estate, potentially avoiding probate court and holding assets to be distributed over time.

While both estate plans and wills officially document how their owners wish to allocate certain assets after their death, there are key differences. In estate planning, a will is often just one of several documents that form a comprehensive plan. In a will, people must designate a person responsible for executing their will after their death. The will can include guardians for their children when they die and beneficiaries to receive an inheritance of money, property, and other assets.

To create a thorough and effective estate plan, individuals should follow these steps:<ul><li>Prepare a will that designates an estate executor; indicate who will receive what assets, and assign a trust and guardians for any children. Consider using an attorney if the will is in any way complex.</li><li>To avoid probate, have an attorney create a revocable living trust.</li><li>Assign beneficiaries to other assets, such as life insurance policies, retirement plans, and securities.</li><li>Use an attorney to prepare a living will, name a health care proxy, and create a HIPAA release form.</li><li>Update the plan every five years.</li></ul>

The length of the process can vary greatly depending on the size and complexity of the estate, the specific law office, and whether there’s an emergency or urgent need. If you’re using an attorney, you can generally expect it to take one to five weeks. You may be able to speed up the process by immediately providing your attorney with any bank statements or other documents they need.

A trust is an agreement between a grantor, a trustee, and a beneficiary. In this agreement, the grantor allocates funds or real property assets to the trustee to be held either until the grantor passes away or until a specific, agreed-upon date. At that point, it's the responsibility of the trustee to distribute funds or property to the beneficiary or beneficiaries. While there are similarities between a will and a trust, a will is a more comprehensive document that typically requires probate court, while a trust allows assets to pass to the beneficiary without probate.

When opening a trust fund, a grantor allocates a trustee to oversee and manage assets in the account. This trustee can sometimes be a relative, an estate lawyer, or a bank that acts as the legal owner of the trust. While holding assets, the trustee is required to file taxes on trust assets.

A living trust enables a grantor to manage their assets through a trustee while still alive. They can continually add funds and/or property to their trust fund by transferring them to the trustee, who accepts ownership of everything held in the fund. The grantor can name a beneficiary for their trust, and their assets will be automatically transferred to that person or establishment upon their death.

No, a lawyer is not required to draft or complete a will. However, there are some scenarios in which hiring an estate lawyer to assist with a will is a good idea, including when children or high-value assets are involved. Additionally, an estate lawyer can help to reduce probate fees and taxes paid by loved ones after a person dies. It's also best to work with a professional to ensure that the will addresses everything necessary, such as funeral plans, guardianship, and asset distribution.

Yes, and individuals who have a living trust should also have a will. While a living trust enables a person to leave funds and assets to a loved one when they're gone, a will is required to cover any assets that aren't included in the trust, such as guardianship of dependents, funeral plans, and forgiveness of outstanding debts, if applicable.

The cost of setting up a trust varies quite a bit depending on a variety of factors, including terms that are in place, special provisions for minor beneficiaries, and trustees' basic fees. In most cases, the minimum cost of setting up a trust is about $1,500, but depending on the factors mentioned above, this cost can increase by thousands of dollars.