I am a 54 year old single man with 3 kids. I ownn one home by myself and 4 pieces of property with 3 other people. What type of will do I ne...

Question

I am a 54 year old single man with 3 kids. I ownn one home by myself and 4 pieces of property with 3 other people. What type of will do I need? Also do I need to have it probated. I live in Alabama

Answer

As a Franchise Attorney I can only say a lot more information is needed, and most likely, a personal consultation. You should consider a living trust instead of a will, as it avoids probate - including probate taxes that can consume 30% or more of the estate's value. Consult with a good wills & trust attorney in your area for specific advice, as this is a very specialized area..

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

Answer

I agree with Mr. Murphy - much more information is needed in order to properly answer your question. One thing I can tell you is that most people wish to avoid the probate process because it is often expensive, confusing and time consuming. You can do this if you have a properly planned estate, which can include a living trust. Your estate doesn't sound extremely complicated as you describe it in your question, but it would still be beneficial for you to consult with an attorney. If you'd like to take advantage of a complimentary, no obligation consultation, please feel free to contact me. Good luck!