Below is a sponsored content newsletter from Blount Hughes LLC.
Many people put off making a Last Will and Testament for several reasons. Perhaps they find it difficult or frightening to face their own mortality. Maybe it’s something they “will do later.” Maybe they fear the expense of having a Will prepared. The simple answer to the question, however, is yes, you likely need to make a Will.
Anyone who owns anything (or thinks that they might own anything) at the time of their death should have a Will. A Will is your opportunity to identify for your loved ones how you want your assets and personal things distributed upon your death. A Will identifies the person who will tend to your things, protect them, and make sure your things get to the right person(s). To be honest, making a Will is the greatest gift you can give to your loved ones, as it allows them to grieve without the added stress of trying to figure out how to handle your things. It also helps to reduce any arguments among your heirs about who gets Grandma’s china!
If you die intestate (without a Will), you lose the opportunity to make your final wishes known to your loved ones, and this can lead to chaos, arguments, hurt feelings and even estrangement among them. Also, if you own anything by title at your death, your estate may have to be probated anyway, but the estate would be probated without a Will.
In this case, you have also lost the opportunity to name the individual you would like to actually handle your estate. This means that someone will have to make a request to the probate court to serve as your estate representative, and if granted, this person will have to file a bond with the court and also keep and file an inventory of all your assets and estate distributions.
In this scenario, some actions will even require prior court approval before the representative can take the action (i.e., selling real property). Also, your estate will be distributed according to the Alabama statutory intestate succession rules. Alternatively, your estate might be turned over to the county administrator to probate and manage the distribution of your assets.
In Alabama, in order to make a Will, you must be at least 18 years of age and be of sound mind. Your Will must be in a format that is acceptable in the state. For example, Alabama does not recognize oral or electronic Wills. But Alabama DOES permit the probate of out-of-state Wills if they are executed in compliance with either Alabama law, the law at the time of execution of the place where the Will is executed, or the law of the place where, at the Will’s execution, the person making the Will has a residence. Alabama also has specific signature and witness requirements.
While some of this information may seem complicated, making a Will allows your estate to be handled smoothly and with a lot less anxiety and potentially less expense for your loved ones you leave behind. So, take a few minutes to identify what you own, who you want to have your things at your death, and contact your attorney to make a Will and discuss the specifics of your estate. And don’t forget to name who is to get Grandma’s china!