Wills & Trusts

Crafting the Foundation of Your Estate Plan

“Estate Planning should not be a near-death experience.” – MaryClare Lawrence

Wills and trusts are two key pieces of every estate plan, yet many people are at a loss when it comes to using them effectively. The attorney at Green Mountain Legal Services can make sure your estate plan essentials always reflect your best interests, protecting your property, your family, and your legacy in the process.

Wills are an important estate planning tool. Without one, your estate is administered according to Alabama’s intestacy laws.  When it comes to intestacy, what you don’t know can hurt your loved ones.  For example, a married couple may not think they need wills because they assume that all of their property will automatically pass to the surviving spouse.  Many surviving spouses have been surprised to find out that they will have to share the assets with another family member.  You can use a will to customize the way your property will be distributed. A will can leave property to specific people, provide instructions, appoint guardians for your children, and name an executor to carry out the terms of your will.

When you create a revocable living trust, you can transfer various assets in and out of the trust while you are alive. Many people do not know that you can transfer assets to a trust and still maintain control of your assets during your lifetime, so long as you do not become incapacitated.  You can name one or more trustees (including yourself) to manage the trust assets according to the terms you’ve established. Following death or disability, your designated trustee will take over and either continue to manage the trust assets or distribute them according to your wishes.

Everyone should have a will or trust and keep it updated to reflect major life changes, such as marriage or divorce.  Contact Green Mountain Legal Services to create an estate plan that meets every one of your individual needs. We will go out of our way to ensure you understand every step of the process.