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Estate Planning

Estate planning involves planning for the distribution of a assets upon a person's death. Failure to plan your estate, regardless of your wealth, can have serious consequences on your loved ones. Such consequences include the court making decisions on your behalf and the government receiving more taxes than is necessary.

When a person dies without a will, it is said that they die "intestate." Any assets that are not jointly owned become property of the decedent's "estate." The decedent's estate is then distributed, through supervision of the court, in accordance with Alabama law. The process is usually long and complicated and requires the assistance of an attorney. Moreover, the decedent's entire estate may be subject to both state and federal estate taxes.

Careful planning can help avoid many of the complications of dying intestate. Upon an individuals death, his will is filed with the probate court (or "probated"). Once the court establishes the validity of the will, the estate is distributed to the individuals specified in the will. A successful estate plan will ensure that a person's estate is distributed to the person or persons of the decedent's choosing, with minimal tax consequences.

There are several legal tools that are available to assist one in the planning and establishment of a successful estate plan. At Generic & Associates, P.C. we will listen to you and make sure that we know exactly what you want. We will then prepare a custom estate plan that will accomplish your goals.

For more information, or to schedule your free consultation, please feel free to contact us.

 

 

 

Contact us for more info!
(251) 555-1212

 

 

The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct.
No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers.  This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Copyright Generic & Associates, P.C., 2005.