Estate Planning: Get Organized!

Estate Planning: Get Organized!

by Attorney Richard Burton

Whether you have a complex estate or relatively straightforward estate, having it organized and updated is one of the most valuable gifts you can leave your family. Below are four basic Estate Planning concerns that need to be addressed when organizing your plan.

1. Last Will & Testament:
   Your Last Will & Testament is the foundation for a complete Estate Plan. It can pass ownership of your assets and designate a Personal Representative to administer your estate when you pass. It is uniquely your plan and final wishes. Trust Planning can specifically address how and when beneficiaries will receive your assets under the management of a Trustee. 
   
   
2. Guardian or Conservator:
   The need to appoint a Guardian or Conservator for a loved one may become a relevant topic for us all at some point during our lifetime. Whether for a minor child or an adult who has become incapacitated, Guardianships and Conservatorships are appointed to protect and assist loved ones when they are unable. Through proper estate planning, you can designate your own trusted Guardian and/or Conservator, as well as backups.
   
   
3. Power of Attorney:
   Designating a Power of Attorney ensures that your affairs will be taken care in the event that you are temporarily or permanently unable to manage personal affairs. This document is crucial to have in place prior to foreseeable or unforeseeable circumstances and is only used for your best interest.
   
   
4. Medical Directive: 
   This advance directive establishes your medical wishes for life sustaining treatment in case of your incapacity to do so. You can preemptively select whether or not you would like a feeding tube, resuscitation, and other choices, provided the doctor’s professional opinion on your terminal medical needs. Through a Medical Directive you also establish a Healthcare Proxy to confirm your treatment preferences. Your Medical Directive ensures your healthcare wishes are followed and helps loved ones have peace-of-mind knowing these are your choices.

Make sure you and your loved ones have peace-of-mind knowing that your final wishes are well documented within your Estate Plan and up-to-date with current laws. If you would like to discuss your plan or get started with your Alabama Estate Plan, please call Attorney Richard Burton at (205) 789-9894 or visit attorneyrichardburton.com for more information.

Richard Burton is an experienced Alabama Estate Planning Attorney providing legal services in Estates, Wills and Trust Planning, Probate Administration, Guardianship and Conservatorship, Asset Protection Planning, Business Succession Planning, Federal & State Tax Planning, Charitable Giving & Private Foundations.

Richard began serving the community in the Jefferson County Probate Court as a Law Clerk for the Honorable Judge Alan King. He later founded Burton & Associates, LLC and continued to serve the public as a Probate, Estate and Tax Planning Attorney. In 2016, his practice continued to grow while merging with The Law Office of Gene M. Sellers (retired), and later Dominick Feld Hyde, PC.