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What Happens When Real Estate in an Estate or Trust has a Mortgage?
In estate or trust administration, the deceased’s residence is often the largest asset of the estate. A mortgage on the residence or other property of the estate can be a source of frustration or stress for the heirs or spouse of the deceased borrower. I put together the following blog post to provide helpful information (and to clear up misinformation) about inheriting estate property that is subject to a mortgage.
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.