Mobile, AL Wills And Trusts Lawyers
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Have you ever considered who you want to inherit your estate after you die? If you haven’t, you’re not alone; it can be difficult to think about death. However, the reality is that it’s not something you can plan for. If you die with no plan for your estate, all of your assets will be divided up by the court according to the Alabama laws of intestate succession, meaning you have no say in which of your family members inherit your belongings. Don’t leave these incredibly personal decisions to the state! You need to protect your estate through a will or trust. Our experienced Mobile wills and trusts lawyers have over 50 years of experience in helping clients make a plan for the future. Call today to find out how you can get a free phone consultation and learn more about our services!
While typically thought of as the document where a person lists all their belongings and who they want to have them when they die, wills are actually much more complex than that, and there are even different kinds. Our Mobile wills and trusts lawyers can help you determine which would benefit your goals the most, and guide you step-by-step through the drafting process.
Living Will: this type of will is a legal document that outlines your preferences for medical treatment and other life-saving measures if you become incapacitated and are unable to express them yourself.
Testamentary Will: or, last will and testament. This is the legal document that will communicate your final wishes for your property and assets, and as stated above, which individuals are to receive them and in what amount.
Pour-Over Will: these often supplement a testamentary will and create a trust out of the assets upon the creator’s death.
Mutual Wills: these are not to be confused with joint wills, which the state of Alabama does not recognize. However, many married couples do decide to utilize these. These outline the distribution of assets that will occur after both parties have passed.
Although wills can be useful tools, it is important to note that having one does not stop your assets from going through the probate process (which is a complex and time-consuming court procedure that distributes a deceased person’s asssets to their beneficiaries with court supervision). The only way to avoid probate is by transferring your assets to a trust – a legal entity which you remain owner of, while allowing a 3rd party (called a trustee) to manage it. There are also several types of trusts, including:
Living Trust: this type of trust is created while the creator (you) are still alive and allows for the quick and efficient transfer of assets to beneficiaries upon your death.
Testamentary Trust: these are set up after your death according to the terms established in your will.
Charitable Trust: an irrevocable (unable to be altered) trust that can benefit you, your heirs, and a charity you wish to make a donation to.
Special Needs Trust: this trust allows you to leave money or property to a dependent with special needs without risking their ability to qualify for government benefits.
Trust Our Mobile Wills And Trusts Lawyers To Meet Your Unique Needs
Although this task may seem daunting, you shouldn’t put it off any longer! Our firm is here to listen to your concerns and answer all of your questions! We are incredibly passionate about helping clients plan for the future of their families. We even offer a free educational seminar which will detail your options when it comes to wills and trusts. Then, you can participate in a free phone consultation with our attorneys where we devise a strategy that we are confident will meet your goals. Don’t wait, call today!
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Mobile, AL Practice Areas
The Ladd Firm is an asset for individuals who need assistance with estate planning. They are truly concerned with what is best for their clients and take the time to understand the situation and tailor the options for the best outcome.
The Ladd legal firm is a very personal and professional legal firm. The service we received was complete and their patience with explaining the process of establishing a family trust made us completely comfortable. We are amazingly comfortable recommending them to anyone wishing to set-up a family trust.
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