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May 2019 Archives

Trust administration: Settling a revocable living trust

Settling a revocable living trust upon the death of the trustmaker takes some know-how. Arkansas residents who have been given the task of trust administration of a loved one's trust should follow a certain guide map with the first task being to find the original estate planning documents along with others that coincide with a trust. Once documents have been found, the revocable living trust should be read and legal counsel obtained to move forward with the trustmaker's wishes.

Estate planning: Most people can benefit from trusts

Understandably, many Arkansas residents and others across the country may not fully understand the benefits of the many options available for end-of-life planning. Some parties may think that they do not need to incorporate trusts when estate planning, but often, they hold this notion because they do not have the right information about trusts. In reality, this planning tool can benefit most individuals.

The need for entrepreneurial estate planning in Arkansas

When an entrepreneur goes through the trouble of setting up a business, he or she likely wants to make sure that business is successful and protected in case anything unforeseen should happen. Arkansas business owners might consider how estate planning could benefit their businesses since savings, insurance and prayers might not be enough in the event they can no longer take care of business. It is important to have essential documents in place like a will, financial power of attorney and a living trust.

Estate planning advice for valuable collectibles

Many people pride themselves on the fine, valuable collections they've amassed over the years. Whether Arkansas residents collect antiques, fine art or other valuables, these items should always be included in any estate planning documents and should also be updated as those collections grow and change. Including them is crucial since they have their own set of complexities.

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