Estate Planning

Thursday, September 24, 2020

Estate Planning Documents You Need for Your College-Age Kids


Back to school time is once again upon us. It has never been easy for parents to send off their college-age kids back to campus, but this year may be exceptionally difficult. College campuses across the country are reopening, but there are heightened restrictions due to the continued presence of the COVID-19 pandemic. With this added stress, parents of college-age kids may be more worried than ever for the health and well being of their sons and daughters. You may be surprised to learn that one way of managing this stress can be to put certain estate planning documents in place for your college student.
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Monday, September 21, 2020

What Happens If You Pass Away Without a Will?


Estate planning can place critical protections in place for you and your loved ones. One of the most well-known parts of an estate plan is a will.
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Thursday, July 23, 2020

What Does the Tax Cuts and Jobs Act Mean for Estate Planning?


The Tax Cuts and Jobs Act was signed into law by President Donald Trump in December of 2017. This is considered to be a major piece of tax reform and one that will have significant impacts for the foreseeable future. Some of the major provisions of the Tax Cuts and Jobs Act include increases to estate tax and gift tax exemptions to $11.18 million per person and $23.36 million per married couple in 2018.
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Monday, July 20, 2020

What Is an Intentionally Defective Grantor Trust (IDGT)?


The impact estate taxes can have on your ability to most effectively transfer wealth to your heirs is an important consideration. Estate taxes, both at the federal and state level, can take a substantial chunk of your estate’s value away from your intended beneficiaries.
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Thursday, May 14, 2020

How Is Someone Declared Legally Incompetent?


Through the guardianship process, a guardian is appointed to an individual who is unable to make decisions on his or her own. The court must decide, based on the evidence presented, whether the individual is truly in need of a guardian. It is a very serious matter as the individual who would be appointed a guardian is set to lose many fundamental rights. In the cases of adults, the decision to pursue Read more . . .


Thursday, February 13, 2020

Can You Contest a Trust in Arkansas?


Trust and Estate Planning Attorneys

There are a number of reasons why someone would want to contest an estate planning document such as a trust or a Read more . . .


Monday, January 13, 2020

What Are Grounds for Contesting a Will?


Successfully challenging the validity of a will is usually very difficult. The testator, the deceased person who created the will, is no longer around to communicate his or her wishes.


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Thursday, September 12, 2019

Life Insurance Trust


Trusts are an often overlooked estate planning tool as the main focus goes to wills. Trusts, however, have benefits that do not come with only having a will as part of your estate plan.
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Monday, September 9, 2019

The Benefits of a Living Trust


To set up a trust, you, the trust settlor, transfer ownership of assets to the trust. The trust holds legal title to the property and is managed by a trustee for the benefit of the trust beneficiaries. There are several types of trusts and each has variations that make them unique. For instance, you may wish to establish a living trust. 

A Read more . . .


Thursday, August 8, 2019

Why You Are Never Too Young to Estate Plan


Estate Planning at Any Age

Estate planning is not just for the old or infirm. It is for everyone. If you are young and in good health or have not yet built up your assets, you may think that you have no reason to estate plan. This is a mistake in thinking. Everyone has a reason to estate plan because no one is immune for the unexpected twists and turns that life can take.
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Wednesday, July 17, 2019

Does Arkansas have an Inheritance Tax?


Inheritance Tax

With regards to estates, there are several different types of taxes that you should be aware of. An estate tax is one that is levied on the estate of an individual who recently passed away. The tax is applied prior to the estate assets being distributed to the heirs. Arkansas, along with 37 other states, does not have a state estate tax, but there is a federal estate tax that may apply if the value of an estate reaches a certain threshold.

There is also the gift tax to consider.
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