Wills and Probate Overview
Comprehensive Estate Planning Attorneys in Alabama
The attorneys of Boles Holmes White LLC provide a wide variety of services relating to probate law, including estate planning, will drafting, trust instrument drafting, power of attorney, estate administration, advance directives, beneficiary representation, and non-probate transfers.
When people think of estate planning, they typically think of a will. However, there are many available methods of effecting the intent of a client with regards to what happens to his property and minor children after he is gone. Here we will take a quick overview of some of these methods.
Probate and Non-Probate Transfers
About half of all property passes through probate. This means the property is either passed under a decedent’s (person who dies) will or through intestacy (property of a decedent who had no will). The other half is considered non-probate property, and passes outside of probate under an instrument other than a will.
Examples of non-probate transfers include joint tenancy, life insurance, contracts with payable-on-death (POD) provisions, and interests in trusts.
The Power of Trusts
Trusts have become an increasingly popular option for clients due to the greater flexibility and control they offer over traditional wills.
Protecting Your Family & Health Decisions
Possibly the most important reason to consider a Last Will & Testament in Alabama is to determine who gains custody of a minor child in the event both parents are deceased. The death of both parents can be traumatic enough, without a custody battle between surviving relatives. A carefully drafted Last Will & Testament can resolve these issues, providing comfort in knowing the children are taken care of in a worst-case scenario.
Another important area of practice is in advance directives and health care proxies, which enable a person to make difficult medical decisions, such as whether to remove life support, in advance. While ensuring the client’s wishes are carried out, this also relieves loved ones of difficult decisions in trying times.
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