Raising children is a full-time job, which can be even more demanding for single parents juggling raising kids with other responsibilities. To ensure your children are provided for, speak to an attorney well-versed in estate law where you live. In preparation for your possible absence, your lawyer will draft documents that meet state requirements to safeguard your children’s future. Here’s what you need to know about creating an estate plan in Alabama.  

Issues That Could Arise As a Sole Parent

As a single parent, it’s important to name guardians for minor children in the event of your untimely death. Otherwise, you can’t guarantee they will end up in a loving, supportive home. In addition to living arrangements, making sure there are funds set aside and readily accessible for school tuition, medical treatment, and additional expenses is also a concern.

In the event you become incapacitated, you’ll need to assign a trusted adult to make legal and medical decisions on your behalf, too. If you are not married or in the middle of a divorce, you might want someone other than your former spouse to be the decision-maker.    

What to Include In An Estate Plan

Having a solid estate plan will solve many of the aforementioned issues. In a will, you can name legal guardians for minor children and assign beneficiaries for your assets. Without a will, the estate is subject to Alabama’s intestacy laws. You can also put money and additional property in a revocable living trust, so your child can get their inheritance faster.

Assets in a living trust won’t have to go through the lengthy probate process. You can also arrange for funds to be released at different intervals to cover expenses over time instead of as a lump sum. 

An attorney will also help you fill out the legal paperwork to assign a power of attorney. This person will have access to your bank accounts, making sure bills are paid while you’re incapacitated. The attorney will also help you set up an advance health care directive, which designates a point person to make medical decisions for you in the event you can’t.

For estate planning assistance in Alabama, contact the Dothan-based attorneys at Lewis, Brackin, Flowers & Johnson Attorneys at Law. The firm’s history serving clients in southeast Alabama dates back to 1899. This means you can trust the lawyers to provide sound legal advice to protect your family. Learn more about each counselor online and call (334) 792-5157 for a consultation. 

No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.