Estate planning is the process of determining who you want to get your assets when you pass away and executing a Will that reflect those wishes. Estate Planning also includes executing documents that will allow someone you choose to make financial (Durable Power of Attorney) and healthcare (Healthcare Power of Attorney) decisions for you in the event you become disabled, incapacitated, or incompetent.
In today’s world people are living longer. What happens if you become incapacitated or incompetent? Who will handle your affairs for you while you are alive? Without the above-mentioned executed documents, when and if you become incapacitated or incompetent your family will have to petition a court who will make these decisions regarding your finances and healthcare.
The State of Alabama provides an estate plan for everyone. It is a one size, and it fits everyone. Fits everyone? Not really.
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