Will & Trust Attorneys in Prattville, AL

Community-Driven Estate Planning Assistance

Wills and trusts are two of the most important estate planning tools. Both can be used to provide for your loved ones after you are gone and to make sure your final wishes are respected.

At McDowell Faulk & Shirley, our attorneys have been helping our neighbors protect their assets and plan for their futures since 1956. We aim to make the estate planning process as straightforward, affordable, and stress-free as possible. When crafting a trust or your will, our lawyers take the time to understand your objectives and priorities so that we can provide personalized guidance tailored to your unique needs. With decades of local experience, we can answer your questions and help you implement effective instruments that provide the peace of mind you deserve. We are prepared to assist high-net-worth individuals with their estate plans, and we can handle the entire process remotely.

Are you ready to start building your estate plan? Call (334) 380-4252 or contact us online to schedule a consultation with our will and trust lawyers in Prattville, AL.

What Should a Will Include?

Every adult should have a will, which is formally referred to as a last will and testament. This legal document allows you to provide enforceable instructions for what will happen to your property and minor children after you pass away.

In your will, you can:

• Dictate who will receive your property
• Name a guardian to care for your minor children and manage any property you leave them 
• Appoint a personal representative, also called an executor, to oversee your estate and ensure your instructions are followed

How to Finalize a Will in Alabama

In Alabama, your will does not automatically become valid and enforceable as soon as you finish writing it. You must sign your will in the presence of two witnesses (or acknowledge your signature in their presence). Then, those witnesses must also sign your will. You don’t need to have your will notarized, but doing so makes it “self-proving,” which means the court won’t have to contact your witnesses to confirm its validity. 

Our attorneys at McDowell Faulk & Shirley can help you prepare your will or review a draft to confirm all of its provisions are clear and enforceable. We can also confirm you have taken the necessary steps to make the will valid. 

What Are Trusts, and How Do They Work?

You may be wondering if establishing a will creates a sufficient estate plan. The reality is that a comprehensive estate plan will frequently include one or more trusts, which can offer powerful benefits that your will cannot offer when properly implemented.

A trust is a powerful legal arrangement where you, the grantor, transfer assets (such as real estate, investments, or cash) to a designated trustee to hold and manage for the benefit of named beneficiaries. Unlike a will, which only takes effect after your death and initiates the public probate process, a trust operates during your lifetime and, upon your death, allows assets to transfer directly and privately to your chosen beneficiaries. These instruments can provide increased speed and control over how and when those distributions occur.

Several types of trusts exist for various purposes. A revocable trust grants you the flexibility to modify, amend, or revoke the entire trust at any time during your life. This type of trust is widely used to bypass the expense and delays of probate (the process through which an estate is settled) and to help manage assets smoothly if you become incapacitated. However, because you maintain control, the assets remain part of your taxable estate and are not shielded from creditors.

Irrevocable trusts cannot be easily changed or terminated once established. When you place assets into an irrevocable trust, you permanently relinquish ownership and control. This loss of control can provide substantial benefits when used strategically, making this trust the vehicle of choice for advanced planning goals such as minimizing estate taxes for large estates or providing enhanced asset protection from future creditors and lawsuits.