Most people assume that if something were to happen to them, the people they trust most would simply step in. A spouse, an adult child, a close friend — someone who knows them well and has their best interests at heart. That assumption is understandable. It is also legally incomplete. In Alabama, a trusted relationship does not automatically carry legal authority. Without documents that … [Read more...] about How Does Guardianship Work When There Is No Advance Planning?
Estate Planning Blog
What Happens to Your Assets If You Die Without a Will in Alabama?
Most people do not plan to die without a will. They mean to get around to it, or they assume their family knows what they would have wanted, or they believe their situation is simple enough that it will sort itself out. In Alabama, if no valid will exists when you die, the state does not wait for your family to reach an agreement. It applies its own set of rules, and those rules may have very … [Read more...] about What Happens to Your Assets If You Die Without a Will in Alabama?
Per Stirpes vs. Per Capita: Which Beneficiary Designation Is Right for Your Family?
Most people complete a beneficiary designation form when they open a retirement account or life insurance policy and never look at it again. Years pass, families change, and that form still sits on file with the financial institution, quietly determining how a significant asset will transfer at death. In reality, some of the most important inheritance decisions a person makes are not made in a … [Read more...] about Per Stirpes vs. Per Capita: Which Beneficiary Designation Is Right for Your Family?
What Happens to Your Estate Plan After Divorce in Florida?
Divorce can significantly affect estate planning in Florida, particularly because of the state’s unique property and inheritance rules. Many estate plans created during marriage assume a spouse will inherit assets, manage financial affairs if incapacity occurs, or serve as personal representative of the estate. When a marriage ends, those assumptions may no longer reflect a person’s … [Read more...] about What Happens to Your Estate Plan After Divorce in Florida?
What Happens to Your Estate Plan After Divorce in Alabama?
Divorce changes more than a relationship. It also changes the assumptions built into many estate plans. When estate planning documents are created during marriage, a spouse is often named in several important roles. The spouse may be the primary beneficiary of assets, the executor responsible for administering the estate, or the person authorized to make financial or medical decisions if … [Read more...] about What Happens to Your Estate Plan After Divorce in Alabama?
Tax Season Is a Good Time to Review Your Estate Plan
As tax season approaches, most people focus on W-2s, 1099s, and filing deadlines. What many families do not realize is that estate planning decisions can also affect taxes. An estate plan is primarily about protecting your family and making your wishes clear. However, the way assets are structured, transferred, or inherited can also have tax consequences. For families in Alabama and Florida, … [Read more...] about Tax Season Is a Good Time to Review Your Estate Plan
