What is an “Estate Plan?”

Wondering what estate planning means? Trying to find an estate planning attorney in Huntsville? You came to the right place. An estate plan is a comprehensive set of documents and strategies to manage and distribute assets during a person’s lifetime and after death and to prepare for unexpected life events that may cause a person to be incompetent, incapacitated, or otherwise unable to make their own decisions.

The purpose and importance of an estate plan is that it allows you to make the decisions, while able, about the disposition of your assets at your death; that is, you get to decide who gets what. More importantly, you can appoint guardians for minor children to ensure if you are unable, they are raised by who you want to raise them. An estate plan allows you to be in control of those decisions.

Huntsville Estate planning is crucial to ensure your wishes are honored, your loved ones are provided for, and your assets are protected. It helps minimize conflicts among family members and can save your family money, stress, and time. Working with an estate lawyer in Huntsville, Alabama like Tanya can make the process of estate planning efficient and can ensure you are securing the future for your family.

There are three major components, or elements, of every estate plan in Alabama. Those components are: Last Will and Testament, Power of Attorney, and Advance Directive for Health Care.

Get a FREE estate planning checklist. Click HERE for the free pdf download.

Difference Between a Will and Estate Plan

A frequently asked question is the difference between a Will and an Estate Plan. An estate plan is a comprehensive set of documents and strategies designed to manage and distribute assets during a person’s lifetime and after death. It includes various components like trusts, power of attorney, and advance directives, in addition to the Last Will and Testament. The will is a crucial part of this plan but focuses specifically on detailing how assets should be distributed after death. Consulting an estate attorney in Huntsville, AL like Tanya Hendrix ensures all these elements are properly addressed.

An estate lawyer in Huntsville, AL, can help create an efficient estate plan, providing peace of mind that your assets and wishes are handled according to your preferences. Whether you’re searching for a will lawyer near you or an estate planning attorney, Huntsville offers experienced professionals to guide you through the process. From establishing a trust to drafting a will, a Huntsville estate planning lawyer can ensure all legal documents are in place and tailored to your unique needs.

If you need assistance with estate planning, including finding a last will and testament lawyer or exploring other estate planning services, consult an estate planning attorney in Huntsville, AL like Tanya today.

When Do I Need to Make an Estate Plan?

The answer is now. Regardless of your net worth, if you are over nineteen (19) years of age, it is essential to have an estate plan. Many of us find the thought of planning for our eventual death to be morbid, scary, and emotionally charged, especially when we have young children. However, the reality is that we can’t predict what will happen or when. We cannot control the other driver on the road, a hidden aneurysm, or the undetected cancer growing and spreading.

Failing to have an estate plan, even if you have few assets or a low net worth, can lead to family conflicts and consume an extraordinary amount of time and money for your loved ones to access your bank account, transfer your house, or manage other assets. We all understand that “something” could happen at any moment. While our minds acknowledge this reality, our hearts often resist dealing with it. We tell ourselves we will get to “it” one day, without realizing that “one day” may be too late. Avoiding the term “estate plan” may sugarcoat the reasons why it is necessary, as if not saying “estate plan” will somehow protect us from our mortality. It’s time to face the facts and secure your future with a solid estate plan. Consulting an estate planning attorney in Huntsville, AL can help you navigate this important process with clarity and confidence.

Common Mistakes in Estate Planning and How to Avoid Them

Estate planning is crucial, but many people make avoidable mistakes that can lead to significant issues for their loved ones. One common mistake is failing to update the estate plan regularly. Life changes such as marriage, divorce, birth of children, or significant financial changes necessitate updates to your estate documents. Without these updates, your estate plan might not reflect your current wishes or circumstances. Consulting an estate planning attorney in Huntsville, AL, ensures your documents remain current and effective.

Another frequent error is not clearly outlining beneficiary designations or neglecting to account for all assets. This can lead to unintended distributions and potential disputes among heirs. To avoid these pitfalls, work closely with a Huntsville estate planning lawyer to review all your assets and beneficiary designations. Properly coordinating these elements with your overall estate plan can prevent confusion and ensure a smooth transition of your assets.

Here are some specific steps to avoid common estate planning mistakes:

Regular Updates: Review and update your estate plan regularly.
Clear Beneficiary Designations: Ensure all beneficiary designations are up-to-date and clearly outlined.
Comprehensive Asset Review: Account for all assets, including digital and non-traditional ones.
Professional Guidance: Work with a qualified estate planning attorney in Huntsville, AL.
Communication: Discuss your plans with your family to prevent future disputes.

By taking these steps, you can create a robust and effective estate plan that meets your needs and protects your loved ones.

Last Will & Testament Lawyer Huntsville

A last will and testament is a legal document that directs how to distribute your assets will upon your death. A Will designates a Personal Representative (a/k/a “Executor”) to oversee the administration of your estate. Importantly, it also names guardians for your children; that is, it designates who you want to raise your children if you die while they are still minors.

If you don’t have a last will and testament when you die, the state has laws on how your assets get distributed. These laws don’t take into account whether you wanted a child disinherited or that you wanted to give to charity. So, if you want to ensure your wishes are honored, contact Huntsville Estate Planning Lawyer to prepare your last will and testament. Click HERE to schedule your appointment now.

If you have minor children and don’t have a last will and testatment where you’ve named a guardian over your children, a judge will decide who will raise them. What if someone who you absolutely don’t want to raise them gets that appoitment from the judge? You can prevent that by preparing your last will and testament with a guardianship provision to name who you want to raise your children. Need more help? Check out this “Estate Planning for Moms” webinar.

Power of Attorney Lawyer Huntsville

A power of attorney is a legally binding document that gives someone the authority to act onyour behalf in legal, medical, and financial matters if you cannot. A power of attorney can beeffective upon your signing, or you can opt to have it go into effect only upon your incapacity or incompetency. Your “Agent” is given tremendous authority, so you must trust this person.

Don’t wait until you are in the hospital or get that demential diagnosis to call to get a power of attorney. Generally, when you NEED that power of attorney it may be too late. Prepare now and get that power of attorney prepared by Huntsville Estate Planning Lawyer, LLC.

Why Choose Tanya As Your Estate Attorney in Huntsville, AL

Are you looking for an estate attorney in Huntsville, AL, that you can trust to help secure your future? Choosing Tanya Hendrix as your estate attorney in Huntsville, AL, ensures you receive expert guidance and personalized service for all your estate planning needs. As a highly experienced Huntsville estate planning lawyer, Tanya offers an efficient approach to estate management, addressing everything from wills and trusts to advance directives and powers of attorney. Her deep understanding of estate law and commitment to her client’s best interests make her a trusted advisor in the community.

Here are some reasons to choose Tanya Hendrix as your estate planning attorney in Huntsville, AL:

Expertise and Experience: Extensive knowledge and experience in estate planning law.
Personalized Service: Tailored solutions to fit your unique needs and goals.
Comprehensive Planning: Assistance with wills, trusts, powers of attorney, and more.
Local Knowledge: In-depth understanding of local laws and regulations.
Client-Centered Approach: Dedicated to providing compassionate and attentive service.

Whether you’re searching online for a “will lawyer near me” or need an estate lawyer in Huntsville, AL, Tanya Hendrix is ready and excited to help you secure your legacy and protect your family’s future. Choose Tanya as your Huntsville estate planning attorney to guide you through the complexities of estate planning with ease and confidence.

Advance Directive for Health Care

This document contains your “living will,” what is also known as your directives, as to your end-
of-life decisions. In this document, you will designate whether you want life sustaining treatments and nourishment through an IV. You will also designate a Proxy or Proxies to speak on your behalf and make those decisions if you are unable to speak for yourself.

FREE Estate Planning Workbook

Our estate lawyer Tanya prepared a free resource for you. This free pdf download explains basic estate planning words, concepts, and guides you through creating your estate plan. CLICK HERE for your workbook. 

Schedule your virtual appointment today. Click on the link below or call 256-361-1221.