Estate Administration Birmingham AL - www.tglennlaw.com

1. Estate Administration Birmingham AL Our firm is here to help the Trustee through the Trust Administration process. Schedule a free consultation with our firm to learn more about the Estate Administration process. Last Will and Testament It’s a myth to think that only those with great wealth require a Will. Everyone who has assets should have a Will. Whether your assets are big or small, having a Will is one way to protect the assets that you value and have worked so hard for. Your assets make up your estate. Everyone’s estate looks a little different; however, most estates are made up of a home or other real estate, cars, financial accounts, personal items, investments, and life insurance. Creating a Will provides you with the opportunity to designate someone to act as the personal representative of your estate, designate the beneficiaries who will receive your property upon your death, name a guardian for your minor child or children, and avoid conflict among your heirs. If you don’t have a Will, your assets will be distributed in accordance with the state laws, known as the intestacy laws. The state laws may require a distribution that is not consistent with your wishes. Maybe you have a Will that was drafted years ago, and you haven’t updated it? Our firm welcomes the opportunity to review your current Will and update it. If you do not have a Will, contact our firm for a free consultation to learn more about the power of attorney guardianshipbenefits of having a Will.

2. Trust A Trust can be appropriate in both simple and complex circumstances. Some of the potential benefits of a Trust are: avoiding probate, asset protection, privacy, and minimizing taxes, fees and costs that would impact the value of the assets you pass on to your loved ones. In addition, a Trust can provide greater protection and control over a child’s inheritance. There are several types of trust that can be established according to your objectives. If you are interested in further information regarding a Trust, contact our firm for a free consultation. Durable Power of Attorney If you become incapacitated, either temporarily or permanently, who would handle your financial affairs? A Power of Attorney allows you to appoint someone you TRUST to handle your financial affairs, in the event you become incapacitated. If you become incapacitated, either temporarily or permanently, and you don’t have a Power of Attorney no one will be able to access your bank account unless you have designated someone on your account, or you go through the court system. It’s much cheaper to plan in advance for incapacitation with the Power of Attorney verses a loved one having to go through a court system at the time of your incapacitation to gain permission to access your funds. Court proceedings can be timely and costly. Plan ahead and save your family a lot of time and stress by preparing your Power of Attorney in advance. For more information about the Power of Estate Administration contact our firm for a free consultation. Advance Directive for Health Care The Advance Directive for Health Care, also known as the Living Will, allows you to appoint an individual known as the health care proxy. This individual ensures that your wishes regarding medical treatment are followed if you become unable to communicate your wishes to a medical provider. This document allows you to state your preferences regarding medical treatment and end of life decisions. The Advance Directive for Health Care can help with avoiding disagreements among family members regarding your medical treatment. If you need an Advance Directive for Health Care, contact our firm https://tglennlaw.com for a free consultation.