Legal Matters
If the state will provide a method for distributing assets after one’s death, why even bother making an estate plan? Alabama has intestacy statutes in its code, and they provide a method for the orderly transition of assets to a person’s heirs. It costs money to make an estate plan. It takes time. More than that, making an estate plan forces a person to consider the shape of the world when they are no longer in it, which is not something everyone wants to consider. Not everyone is interested in brooding on their own death and having to pay to do so.
Control. Control is the answer to the question in the previous paragraph. An estate plan provides an individual with a degree of control over their own affairs while alive, and allows an individual to maintain some control of their property even after death.
An estate plan typically includes at least three documents: a durable power of attorney, an advanced directive, and a will.
A durable power of attorney allows someone to designate an agent who may act on their behalf. The power of attorney document may specify when an agent may act and what actions the agent may take.
An advanced directive allows a person to make decisions about end-of-life care. It is the document where a person can state whether or not they wish to be kept alive by artificial means, specify the types of care and feeding that they wish to receive, and make similar decisions. It allows individuals to make those decisions for themselves, rather than waiting until something happens that forces the decision on a family member or health care worker.
A will allows an individual to specify who, or what, will receive their property, after the individual’s death. Further, when a will is written to work in conjunction with a trust, a will allows an individual to exercise a degree of control over their property potentially for many, many years to come.
Thus, when considering whether or not to create an estate plan, ask yourself three questions. First: “Do I wish to exercise a degree of control over my affairs if I am incapacitated?” Second: “Do I wish to exercise a degree of control over my end-of-life medical care?” Third: “Do I wish to exercise a degree of control over my property after my death?” Your answers to those questions will guide whether or not you choose to make an estate plan and will help guide the type of estate plan that you may choose to create.
Watch the video below to learn more about what happens when someone dies without a will.
–Mitchell McNaylor
McNaylor Law, LLC
Shelby County, Ala.
205-419-7377
