If your business is registered with the state of Alabama, you are required to name a registered agent at the time of registration or incorporation. A registered agent is the person who receives legal and tax documents on behalf of your business. You or other people in your business can serve as the registered agent, but doing so raises a few potential issues.
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For all your other assets that are not jointly held or for which do not have beneficiary designations, state law determines where it will go. To most people’s surprise, unless you have no living children, descendants, or parents, your spouse will not receive the entire share.
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As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this Pandemic. In fact, now is a great time to be proactive and plan ahead should you or a loved one fall ill. Having a comprehensive Estate Plan in place is crucial, but requires proactive planning in advance. Its something that is often placed on the backburner and unfortunately often times until its too late. One of the most important and relatively easy things you can do (and should do) is to select a medical agent and set up your advance healthcare directive and Power of Attorney for Healthcare.
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