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October 2018 Archives

Inter vivos versus testamentary trusts

Estate planning can be a little confusing. For instance, what is the difference between inter vivos and testamentary trusts? For Arkansas residents thinking about writing their estate plans, understanding these distinctions and how they play into planning is essential in maintaining control of the trust -- even, in many respects, after death. Inter vivos trusts are created while the grantor is alive and is not necessarily governed by a will, while a testamentary trust is one whose directives are included in and are a part of the will of a decedent.

Avoiding some pitfalls when estate planning in Arkansas

Getting personal effects in order is no easy feat for many. Estate planning can be time-consuming, confusing and complex, and that is why it's important to get all ducks in a row at the get-go to prevent hardship for loved ones when the time comes to settle the estate. Arkansas residents will want to avoid some common mistakes when fashioning their complete estate plans.

Staying clear of estate planning mistakes in Arkansas

Planning an estate takes some thought and foresight. When making decisions about estate planning, Arkansas residents will want to ensure that their plans are complete and spell everything out. With that in mind, there are some things to be aware of. Making mistakes could mean added stress and grief for family members.

Sloppy estate planning can wreak havoc with family members

The best estate plans are the ones where all the i's are dotted and all the t's are crossed. Messy estate planning can create chaos in Arkansas families. Leaving things out of a plan or not having things properly documented or worse yet -- not having an estate plan at all -- could make life for already grieving loved ones even more miserable.

Widows, widowers in Arkansas and estate planning needs

A person who has just lost his or her partner has many things to think about. Although it may not be the first thing that comes to mind in the throes of grief, a widow or widower in Arkansas really needs to pause to consider what steps need to take place in his or her own estate planning -- to protect him or herself and any heirs, especially when those heirs are children. Not only does the will of the deceased need to be reviewed, the surviving spouse's estate documents should also be reviewed and updated as soon as possible.

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