Estate Planning
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Estate planning does not begin and end with a last will and testament. Wills, powers of attorney, health care directives, living wills, and sometimes trusts are important tools in estate planning. Possibly the most important thing to consider in estate planning is that there is no one-size fits all model. Each person has different family dynamics, financial goals, and assets. It is important to recognize that you do not need an attorney to write a will, but a will must meet certain legal requirements. In the process of drafting a will, an estate planning attorney will ask questions about important people in your life, your assets, your estate planning goals that could suggest you need to draft your estate planning documents in a different way than you may consider if you drafted a will or power of attorney without an attorney helping you.
An attorney who specializes in estate planning and elder law can also draft revocable living trusts, which are sometimes (though not always) helpful and develop a plan to mitigate or avoid taxes to ensure your life's savings and assets are safe from your beneficiaries' creditors after your death. We prepare powers of attorney and health care directives, arranging for someone to take care of your affairs in the event you should ever become mentally incapacitated. We also can help you avoid guardianship or conservatorship issues if you need someone else to look after your affairs. What to Look For In An Estate Planning Attorney
A general practitioner may not have the experience and specialized knowledge to assist you with your unique family and financial situations. Look for lawyers who devote their practice to this area of the law. You should feel very comfortable sharing intimate details of your life and your concerns with the attorney so your estate plan does not fall short of your expectations and needs. Your estate planning attorney should be well versed in and up to date on all Alabama law involving estate planning and elder law. Otherwise, your estate plan may ultimately be deemed invalid by the court or not take advantage of important tax savings now available.
We work primarily with clients and their families to develop estate plans that meet our clients' objectives. Every client is different, and therefore every estate plan is different. We do not believe in using boilerplate legal forms, and we take pride in the legal documents we draft for our clients. We have seen firsthand the problems with legal documents produced in haste by a person with an online legal form. The problems the non-lawyer seeks to avoid are almost always not avoided when a lawyer is not consulted and an online legal form is used. The 2017 Tax Cuts and Jobs Act has changed implications for many high net-worth asset persons, but many basic estate considerations remain extremely relevant. Whether you are 30 years old with a young family or 80 years old, if you have capacity to execute legal documents, an estate plan including a will, financial power of attorney, and healthcare directive are absolute must-haves for every person. Basic Estate Planning Package: $800-$1,000 Will, Financial/Property Power of Attorney and Health Care Directive Advanced Estate Planning Package: Starting at $2,500-$3,500 Trust, Pour-Over Will, Financial/Property Power of Attorney, and Health Care Directive Complex Estate Planning Package: Starting at $3,500 Complex Trust Instruments and Accompanying Will, Power of Attorney, and Health Care Directive Note, deed work may increase the prices depending on deed locating services, deed preparation, and deed recording performed by attorney. |
Contact Lindsey M. Eastwood
Tel: 205-319-9995 Fax: 205-319-9996 [email protected] 2001 Park Place, Suite 510 Birmingham, AL 35203 |