Estate Planning is much more than transferring property at death.
Proper Estate Planning can provide:
1- Care for you according to your wishes during a disability.
2- Financial support after death of a loved one.
3- Financial and non-financial wealth to children, grandchildren, and in some cases, generations beyond.
The Estate Planning starts with a Last Will and Testament, and a Family Trust. It specifies who is to inherit your property, take care of any children under the age of 18, and who is to be appointed to make sure your wishes are known.
In addition to your Estate Planning, a Power of Attorney, Durable Power of Attorney, Advance Directive known as Living Will, Guardianships, and Conservatorships will make a good base for an Estate Plan.
When a person dies without a Will or a Trust prepared, the State of Alabama decides who will inherit his or her property and who will serve as the executor of his or her Estate. The firm works on minimizing your estate related taxes, increasing wealth, passing on values and goals to other generations, and protecting wealth for beneficiaries.
If you are looking for a qualified Estate Planning Attorney, I am here to help you create a new estate plan or modify your current plan. If you need to make an appointment, please contact The Law Firm of Brian W. Moore at (334)293-0568 or by completing the Contact Us form.
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The probating and distribution of the deceased’s estate to the heirs or beneficiaries, including paying the debts of the deceased. This process would take place whether of not the deceased executed a Last Will and Testament.
Otherwise known as an Advance Directive, the purpose of which is to make known the health care directions in the event of a terminal illness of permanent incapacity.
The directions of the testator as to the manner in which his or her estate is distributed among the heirs or beneficiaries.
Action taken by an heir or possibly a creditor as to whether the Last Will and Testament is an accurate reflection of the testator’s wishes and desires as to the distribution of the estate.
A position appointed by the Probate Court wherein the individual is responsible for the finances of the ward, many times a parent or disabled child.
A position appointed by the Probate Court wherein the individual is responsible for making decisions, other than financial decisions, on behalf of a ward, many times a parent or disabled child.
A term that includes many aspects of estates, conservatorships, guardianship, and involuntary commitment, among other areas.
Legal instruments that establish and hold assets for a period of time for the benefit of a beneficiary or beneficiaries. A Trust may be structured as revocable, meaning the individual establishing and funding the trust may revoke and terminate the trust at any time for any reason. A trust may also be established as being irrevocable swearing the trust once established may not be terminated by the individual that established and funded the trust. Additionally, there are Medicaid approved trusts that would allow for nursing home coverage for individuals that might not otherwise be eligible for coverage. Finally, there are Special Needs Trusts that provide an avenue for support for individuals with special needs.
A document in which one individual voluntarily gives the authority to someone to make decisions on their behalf.
Covers a wide range of law that concerns itself primarily with older individuals. This area includes Last Will and Testaments, Powers of Attorney, Estate planning, Medicare, Medicaid, and other similar subjects.
Medicare is a federal program that provides health coverage if you are 65 or older or have a severe disability, no matter your income.
Medicaid is a joint federal and state program that helps with medical costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, like nursing home care and personal care services.
If you are eligible for both Medicare and Medicaid (dual eligible), you can have both. Medicare and Medicaid will work together to provide you with very good health coverage.