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February 2019 Archives

The wealthy are not the only ones who can benefit from trusts

Estate planning is an important process for people of all income levels. Some people believe they do not need an estate plan or that perhaps all they need is a basic will because they are not rich and do not own significantly valuable assets. While a will is a good place to start, that is not all that a person may need for full legal protection. Trusts are an important tool that can benefit people who are not necessarily wealthy.

Estate planning: When should Arkansas residents update plans?

Planning an estate takes some decision-making and time. Arkansas individuals who have taken the time for estate planning should know that these plans shouldn't sit collecting dust over the years, but should be updated as life changes. There are some definitive reasons when and why these plans should be updated since keeping them current is in the best interests of loved ones.

Arkansas estate planning and privacy -- trusts vs. wills

It is rather difficult in this technological age to keep private matters private. Arkansas residents who are thinking of estate planning should know about the differences between will and trust-based estate plans if they wish to keep their private affairs under wraps. In essence, estate plans that are will-based eventually become a matter of public record and anyone can access personal information contained in a will. 

Understanding assets in estate planning in Arkansas

When writing an estate plan, people have to think about all sorts of things, including their assets. But, what really constitutes an asset if one is in business? It may not be as clearcut as all that. When Arkansas entrepreneurs understand what's at stake in their estate planning, they may take the time to ensure those plans are thorough. Essentially, an asset is something that has some economic value currently or will have in the future.

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