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 the Compensation for Serving as an Executor or Administrator of an Estate in Alabama?
In Alabama, by statute, the maximum compensation for an executor or administrator (personal representative) of an estate in ordinary cases is two and a half percent of the value of the estate property received by the executor or administrator and two and a half percent of the value of the disbursements from the estate. Within this maximum amount, the executor or administrator is entitled to reasonable compensation for services based on a consideration of fairness
Why are a Financial Power of Attorney and Healthcare Power of Attorney Important in Alabama?
By taking action in advance, an individual can use a power of attorney to select someone they trust who will care for them and make decisions regarding finances and healthcare without the need for oversight from the court. This is what estate planning attorneys refer to as incapacity planning.
Alabama Estate Planning: The Three Documents You Need for a Simple Estate Plan in Alabama
Everyone knows it’s important to have a Last Will and Testament. However, for many people, there are two other documents which may be as important or even more important than the Last Will and Testament.
Is Your Alabama Trust Funded?
If you are using a revocable trust for your estate plan, the trust should be funded. When using a revocable trust for an estate plan, typically, one of the primary goals is avoiding the need to file an estate in probate court. Avoiding probate court may be a goal for multiple reasons.
What are Letters Testamentary?
Letters testamentary are the documentary evidence of an individual’s appointment as the executor of an estate. They are issued by Alabama probate courts following appointment of an executor.
