Creating a will provides an opportunity to protect your assets and ensure they reach the intended beneficiaries. There are several ways you can use a will to safeguard your assets from creditors, lawsuits or future disputes. Careful planning can provide long-term...
Estate planning helps ensure assets go to the right people. However, some individuals take advantage of others to change wills or trusts unfairly. The law refers to this action as “undue influence,” and it often happens when someone pressures an elderly or sick...
Establishing a trust strategically manages estate taxes and ensures assets align with an individual's wishes. Trusts offer benefits that can help reduce potential inheritance tax liabilities, making them an effective estate planning tool. Reducing taxable estate...
Contesting a will is a complicated process, especially when allegations of undue influence factor in. When someone suspects that a person manipulated the deceased into changing their will, proving this claim requires navigating various legal challenges. Understanding...
Navigating the transfer of property after a loved one’s death can be challenging. The probate process is often necessary to distribute a deceased person's assets. However, some circumstances allow for the transfer of property without going through probate, simplifying...
In Arkansas, deciding how your assets will be distributed after your passing is a significant part of planning for the future. While you might have already set up a will or trust, circumstances change, and so might your decisions about how much your beneficiaries...
Wills are not intended to be permanent documents. In fact, most people must update their wills many times over the years to ensure they continue to meet their needs. Although updating your estate plan might not be the most exciting task on your to-do list, doing so is...
Your will should reflect your wishes for the distribution of your assets, even if it means you wish to exclude certain family members. Sometimes, excluded family members contest the will if they feel unfairly overlooked. Contested wills can tie up your assets and...
When it comes to estate planning, it is not just about the good things you leave behind for your loved ones; it is also about what you leave behind in terms of financial responsibilities. Clearing out debt should be an integral part of your estate plan to ensure a...
Planning for the future is a wise endeavor, especially when it comes to managing your assets and ensuring the well-being of your loved ones. One valuable tool to consider incorporating into your estate plan is a trust. 1. Probate avoidance One significant advantage of...