Tax, Trusts and Estate Planning

Probate and Estate Planning Lawyer

Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan. ~ Tom Landry

Planning is the vital ingredient for success in benefits, tax, trusts, and estate planning law. Our lawyers in this practice area hold advanced taxation degrees and are skilled in assisting businesses, trustees, and individuals in their ERISA, tax, trust, and estate planning matters.

Our retirement plan services include:

  • Designing custom pension
  • 401(k), 403(b) and ESOP plans for small, medium, and large employers
  • Prototype plans
  • Obtaining IRS determination letters on plan qualification
  • Ensuring compliance
  • Advising administrators and trustees on IRS and ERISA issues
  • Representing plans in IRS and DOL audits
  • Assisting plans through IRS voluntary correction programs to regain qualified status
  • Merging or terminating plans
  • Implementing welfare benefit plans, including cafeteria plans

For our business clients, we provide advice about entity formation choices, business acquisitions, and sales, as well as the tax and legal issues associated with acquiring, owning, and selling business assets. We regularly advise our healthcare clients on tax matters, including obtaining and protecting 501(c)(3) tax-exempt status.

Estate Planning: What You Need to Know

When it comes to estate planning, our attorneys can help you file the necessary paperwork correctly to make sure your estate passes to the appropriate parties after your death.

You must make legal arrangements for your assets. Without a will or any type of prepared documents, your estate will go to your closest relatives under Alabama’s intestate succession. A surviving spouse and children will split your assets, or your children will inherit the entire estate if your spouse has also passed. If you have no children, your spouse and parents may receive the whole estate or partial. Siblings may qualify if there are no other close family members.

It’s in the best interest of your entire family to complete your estate planning while you are of sound mind and have a good quality of life. Our attorneys can make certain your end-of-life wishes and desires for the division of your estate are followed

Benefits of Hiring an Estate Planning Attorney

An estate planning lawyer provides many services to clients to help them prepare for end-of-life. Some tasks an estate planning lawyer can help with include:

  • Protect your beneficiaries: An attorney can help you ensure your belongings will go to those you designate – whether it’s your children, grandchildren, or other loved ones — through beneficiary protections. An estate planning attorney can help set up trusts and oversee the inheritance of minors until they are old enough to manage the inheritance on their own.
  • Plan your estate so the court doesn’t: If you don’t make arrangements to divide up your estate, the court will. Before the court decides who should get your assets, work with an estate planning attorney to designate which loved ones should inherit which property and assets. This is your opportunity to ensure your wishes are carried out.
  • Document your wishes: You can reduce conflict within your family by having a plan in place so your relatives do not have to decide what to do with your assets, or fight about who gets what. This will take some pressure off of your loved ones as they mourn.

Services an Estate Planning Lawyer Performs

An estate planning lawyer can help you with many tasks, including the following:

  • Create a will
  • Designate your beneficiaries
  • Establish power of attorney
  • Establish medical power of attorney
  • Reduce and avoid estate tax when possible
  • Avoid the probate court process
  • Set up trusts to protect your assets. These can be established to help you in case you are unable to make decisions late in your life, as well as for your beneficiaries.

What You Need to Know About Probate Law

Probate law comes into play when you lose a loved one. The Alabama probate process is designed to take care of dividing the estate among appropriate parties, and each state has specific requirements and deadlines. Probate legally ensures that the deceased person’s wishes are followed whether or not there is a will and guarantees that all state laws are obeyed.

You can ensure speedy probate or avoid the process altogether with the help of an estate planning lawyer at Johnstone Adams, LLC.

Contact an Experienced Estate Planning Lawyer in Mobile

Johnstone Adams LLC has been ranked Best Lawyers® “Best Law Firms” in the region for 12 practice areas in 2022. We’ve helped clients for over a century and provide a wide range of specialties with decades of combined experience. Our broad interests allow us to serve individuals and companies with the legal help they need personally and professionally.

Contact our Mobile, Alabama office today at (804) 492-7137 or fill out our online contact form.

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