In estate or trust administration, the deceased’s residence is often the largest asset of the estate. A mortgage on the residence or other property of the estate can be a source of frustration or stress for the heirs or spouse of the deceased borrower. I put together the following blog post to provide helpful information (and to clear up misinformation) about inheriting estate property that is subject to a mortgage.
SARP Area Agency on Aging and AARP AL present Zoom series on resources from Area Agency on Aging and State of Alabama
The South Alabama Regional Planning Committee/Area Agency on Aging and AARP Alabama are collaborating on a 7-week zoom workshop series highlighting resources provided by local Area Agencies in Aging and the State of Alabama. The series will take place on Thursdays at 11AM beginning on March 18th.
Baldwin County Health Department has provided additional information about the vaccination clinics taking place this month (January, 2021):
Here’s some great news that the COVID-19 vaccine is coming available to Alabamians who are most vulnerable to the virus. If you are 75 years or older (or a caregiver for someone 75 years or older), please read the following to find out how to schedule an appointment for vaccination from the Alabama Department of Public Health:
In Alabama, by statute, the maximum compensation for an executor or administrator (personal representative) of an estate in ordinary cases is two and a half percent of the value of the estate property received by the executor or administrator and two and a half percent of the value of the disbursements from the estate. Within this maximum amount, the executor or administrator is entitled to reasonable compensation for services based on a consideration of fairness
By taking action in advance, an individual can use a power of attorney to select someone they trust who will care for them and make decisions regarding finances and healthcare without the need for oversight from the court. This is what estate planning attorneys refer to as incapacity planning.
Everyone knows it’s important to have a Last Will and Testament. However, for many people, there are two other documents which may be as important or even more important than the Last Will and Testament.
If you are using a revocable trust for your estate plan, the trust should be funded. When using a revocable trust for an estate plan, typically, one of the primary goals is avoiding the need to file an estate in probate court. Avoiding probate court may be a goal for multiple reasons.
Letters testamentary are the documentary evidence of an individual’s appointment as the executor of an estate. They are issued by Alabama probate courts following appointment of an executor.
An ancillary estate is an estate in Alabama that is started after the commencement of a primary estate administration in another state. For example, if a resident of another state dies in their state of residence while owning real estate in Alabama, their executor may file an estate case in the deceased person’s state of residence and then file a separate ancillary estate in the county where that person owns real estate in Alabama.