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Alabama Estate Planning Attorney.com
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Alabama Estate Planning Attorney.com
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Did You Know?
A "Living Trust" can be used to hold legal title to and provide a mechanism to manage your property
You can select the person or persons you want -- often even yourself -- as the Trustee(s) to carry out the instructions you want in the Trust and name one or more Successor Trustees to take over if you cannot. Unlike a Will, a Trust usually becomes effective immediately, continues in force during your lifetime even in the event of your incapacity, and continues after your death. Most Trusts are "revocable" which allows the person who creates the Trust to make future changes, modifications and even to terminate it.
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Latest news about Financial & Estate Planning in Alabama and nationwide:
Definition:
The value of an estate before the debts are paid. In California Probate statutory attorneys and personal representatives fees are usually calculated based on the gross value of the estate, so that the value of the home is calculated before deducting the amount due on the mortgage.
Domicile
Definition:
A person's permanent legal residence. While a person may have more than one residence, he or she can have only one domicile. Typically, the domicile is the same place you use for purposes of voter registration.
Grantor
Definition:
The person who sets up or creates the trust; also called a Settlor, Trust Creator, Trust Maker, or Trustor.
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