National Estate Planning Awareness Week runs October 19 to 25 this year. For many people, the phrase “estate plan” brings to mind a folder of legal papers that gets signed, filed away, and forgotten.
That picture is understandable, and it leaves out the most important part. Ask the question “What does an estate plan do?”, and the honest answer is less about paperwork and more about people. A plan answers a few practical questions: who can act for you if you are sick, who handles things after you die, and who cares for the people who depend on you.
What Is National Estate Planning Awareness Week?
In 2008, the U.S. House of Representatives passed a resolution supporting the third week of October as National Estate Planning Awareness Week. The goal was to encourage families to learn about estate planning and to make it easier for people to get clear information from professionals they trust.
The week is not a deadline, and nothing changes on October 26. It is simply a good reason to pause and ask yourself the questions below. For most families, the answers matter far more than any single document.
Who Can Make Decisions for You If You Become Sick or Incapacitated?
Many people assume that if they were in a serious accident or developed dementia, their spouse or adult children could step in to pay bills, talk with the bank, or speak with doctors. In Alabama, a close relationship does not automatically give someone legal authority to act on your behalf.
A durable power of attorney addresses this for financial matters. It names a person, called your agent, who can manage your finances if you cannot. An advance directive for health care does the same for medical decisions, naming someone to speak for you and recording your wishes about your care.
Without these documents, the people closest to you may need to ask the probate court to appoint a guardian or conservator before they can act. That process involves a petition, a hearing, and ongoing court oversight. It exists for good reason, and it also means a judge decides who has authority instead of you.
Who Handles Your Affairs After You Die?
When someone dies, someone has to gather their assets, pay final bills, handle paperwork, and make sure property reaches the right people. That person is called a personal representative, and a will is where you choose who it will be.
If you have a revocable living trust, the successor trustee you name carries out many of those same responsibilities for the assets held in the trust, often without going through probate.
Without a will, the probate court appoints someone to serve, and Alabama’s intestacy laws decide who inherits. Those rules follow a set order of family relationships. They do not account for a stepchild you raised, an unmarried partner, or a friend who was like family, and they do not consider who would actually be good at the job.
Choosing the person who carries out your plan is one of the most important decisions in the entire process. A thoughtful plan with the wrong person in charge can still be hard on a family.
Who Would Raise Your Children If Something Happened to You?
For parents of minor children, this is often the question that matters most. Under Alabama law, parents can name a guardian for their children in a will, which gives the court clear direction about who you trust to raise them.
A second question often gets overlooked: who would manage the money your children inherit? A minor cannot receive and manage an inheritance on their own. A plan can name someone to handle those funds, often through a trust, and set terms for how and when the money is used.
Without a plan, a judge makes both of those decisions. The court will work to act in your children’s best interest, though it has no way of knowing who you would have chosen.
Does Your Will Control Everything You Own?
Many people are surprised to learn that a will does not control every asset. Life insurance, retirement accounts, and accounts with a payable-on-death designation pass directly to whoever is named on the beneficiary form, regardless of what the will says.
That is one reason an estate plan is more than a will. Part of what a plan does is make sure the pieces fit together, so your accounts, beneficiary forms, and documents all point in the same direction. An outdated form naming a former spouse or a parent who has passed away can quietly override everything else.
Is National Estate Planning Awareness Week a Good Time to Start Your Estate Plan?
If you have been meaning to put a plan in place and have not gotten to it yet, you are in good company. Most people already know what an estate plan is, at least in theory. What feels harder is knowing how the pieces fit together, where to begin, or even how to bring up the topic with a spouse, parents, or adult children.
That is where Heircraft Planning can help. We believe people make better decisions when they understand how the system works, which is why so much of what we do is education, from free seminars where you can ask questions to articles like this one. When you meet with us, you do not need to arrive with answers. We walk through who you would trust to step in, who depends on you, and how the pieces of a plan fit together.
This week is a good chance to take that first step, whether that means attending a free seminar, reading more, or scheduling a conversation. Understanding what an estate plan does for your family is a good place to begin.
If you would like to learn more, Heircraft Planning offers several free resources. You can download our free estate planning guide, watch an on-demand webinar, or browse our full blog library at heircraftplanning.com. Free in-person seminars are held throughout the year in Mobile. View upcoming dates and register at heircraftplanning.com/upcoming-events.
If you are ready to take the next step, you can schedule a consultation with Attorney Mark Eiland at heircraftplanning.com. We are here to help you understand your options and put a plan in place that reflects what matters most to you.
