The Law Offices of Brenton C. McWilliams – Blog
The Law Offices of
Brenton C. McWilliams
Welcome to our blog. Here, you will find articles on topics relating to estate planning, elder law and probate.
What is Incapacity? The general idea of incapacity is a lack of sufficient understanding or capacity to make or communicate responsible decisions stemming from a variety of reasons. In the context of financial decision making, the general idea of incapacity is an inability to manage assets or financial/business affairs. As life expectancies increase, our expectation, and what we typically plan for, is that incapacity would normally manifest from illnesses or cognitive decline brought about by advanced age.
A handwritten last will and testament created in Alabama is not automatically invalid, but the will must meet the same requirements of any other will. Alabama does not relax the attestation, witness and other statutory requirements and signing formalities for handwritten wills. In other words a handwritten last will and testament created in Alabama, when it comes to the statutory execution requirements, is not treated differently than any other type of will.
Choosing an executor is an important step in preparing your Last Will and Testament and is a key piece of your estate plan as a whole. If you’re unsure how to appoint an executor, select an executor or, generally, where to begin, this article is for you. This article will explain the role of the executor, discuss some of the different executor options available and provide some recommendations for selecting an executor.
For most questions about trusts, the express terms of the trust agreement itself prevail. In addressing the question whether a revocable trust can be changed, the first step to determining whether a trust can be changed is a review of the trust agreement to see what, if anything, the trust agreement says about changing the trust agreement. If the trust agreement doesn’t speak to amendment or changes to the trust or, if the trust agreement doesn’t address the specific circumstances present, then the default rules of the Alabama uniform trust code prevail. Trust agreements will commonly provide that on the happening of a certain event, some portions of the trust agreement can be changed and some portions of the trust agreement cannot be changed.
Nothing. Well, not nothing, but certainly less information than most people think they need to begin the process of preparing their will or trust.
For most people, estate planning is easy to procrastinate. A common weapon I see in the estate planning procrastination arsenal is the over-exaggeration of the information needed to prepare an estate plan. With the understanding that it’s easy to procrastinate, one of our goals is to make it easy to get your planning done.