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Month: April 2012

4/28/2012

Four frequent estate-planning mistakes

While there are many mistakes people can make while planning their estates, a recentcolumn on Forbes.com, lists some of the errors most frequently encountered. 1. Not having a plan Not having a will means that at your death the distribution of your assets will be dictated by the inheritance laws of the state where you were domiciled, likely Alabama. These "intestacy laws" leave a percentage of assets to various members of your family. While there's a small chance that the laws will accomplish what you wanted, that's unlikely. Your will applies to the disposition of your "probate assets," those things that are not following a beneficiary designation. Non-probate assets will pass by operation of law or contract.

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4/26/2012

A proper estate plan requires putting it all on the table

The Huffington Post recently published an article explaining to its readers the importance of a properly constructed estate plan. While there are some who believe that they should not leave anything to the next generation, it is entirely possible that even those people may die unexpectedly leaving assets that have to be distributed to rest of the family. That means that it is never too early to begin making preparation for which family members will get the things that you leave behind. The first thing that must happen to put together a proper estate plan is to have a conversation with the entire family. Although the conversation will not be easy, and it may even be painful, it is completely necessary. The failure to have this conversation will cause more pain and difficulty than actually having the conversation.

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4/20/2012

What To Do If You Have a Slip and Fall in Alabama

Slip and Fall AccidentA slip and fall or trip and fall accident comes within an area of the law known as premises liability. Under Alabama law, a premises owner has a duty to keep their premises in a reasonably safe condition for a business invitee. The plaintiff or injured party has the burden of proof in slip and fall case to establish that the premises owner/operator knew or should have known of the dangerous condition on their property that caused the person to fall. This often is a tough burden to meet. However, this can be established in a variety of ways: 1. Does the premises owner have a policy and procedure whereby they monitor their premises; 2. If the fall was caused by a substance, was there such a large amount that they should have noticed it?; 3. If the fall was caused by a defect in the premises the premises owner is presumed to have notice and knowledge of the condition; and 4. If the defect was created by the premises owner they are presumed to have notice - i.e. leaving an object sticking out in the aisle. As Huntsville Alabama slip and fall accident lawyers, here are a few tips on what you should and shouldn't do following a fall:

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4/16/2012

How to decide if you should get your own attorney or work with your spouse for estate-planning purposes

According to a recent post on Forbes.com, the importance of estate planning for married couples cannot be stressed enough. The seriousness of such forward thinking is even more critical in blended families which tend to present more opportunities for volatility following the death of a parent. The first issue for all couples to resolve is whether to be represented jointly by the same estate planner or for you each to go it alone. While joint representation can be more cost-effective, it can mean that both parities don't have the freedom to speak up about their individual concerns. Unless there is healthy communication between the spouses joint representation can be a recipe for disaster.

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4/6/2012

Kony 2012: How Charitable Giving Affects Alabama Estate Planning

According a recent article in Forbes, the recent online film "Kony 2012" has sparked an international crusade for the capture of reputed war criminal Joseph Kony. In addition to the film's attempt to raise awareness about Kony's war crimes in Uganda, it also raises a significantly important question with regard to estate planning, i.e., charitable giving. It can make a sizeable impact on the tax consequences of any Alabama estate. Kony 2012 documents the crimes of Joseph Kony and the filmmaker's desire to make Kony famous in order to bring him to justice. At the end of the 29-minute piece, the filmmaker encourages the viewer that he or she can get involved in the movement by doing a few simple things, one of those being make a donation to the Invisible Children non-profit organization. The film and the organization, however, are not without their critics. Several people have accused the organization of using the tragedy in Uganda to make money.

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4/4/2012

Why You Need a Will

Why You Need a WillHere's a shocking fact: approximately 70% of Americans don't have a will. A will is a fairly simple legal document to create so why do so many people avoid it? Just a few reasons might include: I don't have anything to leave to my heirs; I've got plenty of time to write my will; bad things don't happen to good people; I can't afford it, etc. After all, no one really wants to think about their own death, let alone prepare for it. In reality, though, preparing by creating a will is exactly what we should all be doing. Protecting the people you love most is the main reason to consider drafting a will and to not waste any time in doing so.

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