One of the most common phrases in estate planning conversations is some version of: "We are a close family. Everyone gets along. My kids will figure it out." Clients say it with genuine confidence. They mean it. And from a relationship standpoint, they may be entirely right. From a legal standpoint, it is incomplete. For advisors working with clients on financial planning, retirement, or … [Read more...] about What Advisors Should Know When a Client Says “My Family Will Figure It Out”
Does a Close Family Still Need an Estate Plan in Alabama?
Most people who delay estate planning are not being careless. They look at their family, see people who genuinely care about one another, and assume things will work themselves out. When everyone gets along, it is easy to believe that shared values and good intentions will be enough. That assumption is understandable. Under Alabama law, it is also incomplete. What Happens When There Is No … [Read more...] about Does a Close Family Still Need an Estate Plan in Alabama?
Free Estate Planning Resources from Heircraft Planning
Estate planning makes more sense when you understand the system before you start making decisions. That is the philosophy behind everything Heircraft Planning does — and it is why we offer several free resources for Alabama and Florida families who want to learn first, without any pressure to take the next step before they are ready. Who Is Behind Heircraft Planning Heircraft Planning was … [Read more...] about Free Estate Planning Resources from Heircraft Planning
Can a Family Member Make Financial Decisions Without a Power of Attorney in Alabama?
One of the most common misconceptions about a power of attorney in Alabama is that family members already have it. When someone is hospitalized unexpectedly, the people closest to them often assume they can step in. A spouse tries to access a bank account to cover bills. An adult child calls the financial institution to ask about investment accounts. A sibling attempts to manage day-to-day … [Read more...] about Can a Family Member Make Financial Decisions Without a Power of Attorney in Alabama?
Can a Family Member Access a Client’s Finances Without a Power of Attorney in Alabama?
It happens more often than most professionals expect. A client becomes incapacitated, and the family member who has been closest to them for decades tries to step in. They call the financial institution. They attempt to access accounts to cover bills and ongoing expenses. They are turned away. Not because anyone doubts the relationship. Not because the institution is being unreasonable. It … [Read more...] about Can a Family Member Access a Client’s Finances Without a Power of Attorney in Alabama?
Common Law Marriage in Alabama: What Professionals Should Know When Working With Unmarried Clients
Unmarried couples represent a growing segment of the population, and many of them are sitting across the table from financial professionals, CPAs, and other advisors without any awareness of how significantly Alabama law limits their legal standing when one partner dies. For professionals working with these clients, understanding where Alabama draws the line on common law marriage is not a legal … [Read more...] about Common Law Marriage in Alabama: What Professionals Should Know When Working With Unmarried Clients
