If you’ve been putting off the often difficult task of creating an estate plan, you aren’t alone. Studies show that only about 18% of Americans age 55 and over have a complete estate plan. It can be difficult to think about your own death, but what people generally don’t consider are the many burdens they relieve their family of by having a plan for their assets and property. When someone dies with no estate plan, not only are they leaving the distribution of their estate up to the court, but they are also putting their family through months of legal expenses as the estate goes through the Alabama probate process. This is why it is worthwhile to have an attorney assist you in the planning process, starting with a will or trust. The attorneys at The Ladd Firm have over 50 years of combined legal experience and are committed to creating the most beneficial estate plans possible for their clients. Call our Saraland wills and trusts lawyers today to learn how you can schedule a free phone consultation.

Wills

A will is a legal document that details what will happen to your assets and property following your death. The traditional will that many people are familiar with is actually called a testamentary will, but there are many other types of wills that serve various purposes. Some include:

• Living wills
• Pour-over wills
• Mutual wills
• And more!

While there is such a thing as a holographic will (handwritten) and an oral will (verbally spoken), these are not recognized in the courts of Alabama as valid. Our Saraland wills and trusts lawyers are well-practiced in the state laws and stay up to date with any revisions that affect them to ensure that your will remains legally compliant.

Trusts

Trusts are vastly different from wills, but are still effective estate planning tools. In fact, many people elect to establish a trust rather than draft a will due to the many advantages they offer. For one, trusts bypass probate and pass directly to your beneficiaries upon your death – remaining out of the court and in your family. In addition, the tax advantages of trusts are considerable. 

If you’re looking to create a trust, our Saraland wills and trusts lawyers will first ask you what you are aiming to accomplish with it. There are many different types of trusts, so identifying your goals first is crucial! You may want to manage property or money for young children, protect assets for your children if you have a blended family, leave money to a dependent with special needs, or set aside funds for a charitable organization. No matter what you are trying to accomplish, you can have peace of mind that our firm will simplify the process every step of the way. 

Already Have A Will Or Trust? You Should Still Update It Regularly.

If you already have a will or trust, the estate planning process doesn’t stop there! You should remember to review and update your documents at least once every three years. These plans are not set in stone, and may need to be revised if:

• Your marital status changed
• You have had another child or grandchild
• You moved to a different state
• Your children have turned 18
• There has been a major change to your family dynamics

Trust fOur Saraland Wills And Trusts Lawyers To Keep Your Estate Planning Experience Stress-Free!

We know that estate planning can be a daunting task to undertake, but our firm is here to mitigate any stress and anxiety you may be experiencing by keeping the focus on the positive contribution you are making to your family. To better explain your options, we offer an educational seminar – both online and in-person –  to make you better informed of the process and each necessary step. Then, you will be entitled to a free phone consultation with one of our attorneys to delve deeper into your personal goals and unique situation. Call our strategic Saraland wills and trusts lawyers today to get started!