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August 2019 Archives

Don't forget the pour-over will when creating trusts

Arkansas residents often choose different estate planning tools to help them get their final affairs in order. Some parties may choose to plan simply, and others may want to ensure that they leave behind as many details as possible. Trusts are commonly used in these plans and have many benefits, but it is important to remember that other tools can help ensure that they work as intended.

Arkansas estate planning: An irrevocable trust and Medicaid

Getting older can certainly put a dent in a person's pocketbook, especially if extra care is needed -- and it usually is. Aging Arkansas residents should know that living in a nursing home can be incredibly expensive – more than $80,000 a year in many cases. Medicaid usually foots the bill for 60% of that cost, so it tries to recoup the rest by making seniors spend their own assets. In order to qualify for Medicaid in the first place, a person must have $2,205 or less in income a month and $2,000 or less in assets. Proper estate planning may help.

The certain ways to make sure your desired heirs get the house

Inheritance can be a tricky thing. You may think you can leave whatever you want to whomever you want but it is a bit more complicated than that. It is important that you take the time to create a fool proof plan that will make sure your kids get your most valuable asset upon your passing, usually residential property.

Estate planning issues for international heirs living in Arkansas

America is known as the land of opportunity that has brought many people from abroad who make the country their home. Often, adult children leave their native lands to either go to school in the States or to find employment. Some of those individuals, who may be living in Arkansas, may have some issues when it comes to the estate planning efforts of their benefactors, who are usually their parents.

What to look for in an estate planning attorney

Those who are planning their estates are likely to need help in doing so. An estate planning attorney is in a position to be able to guide a client based on his or her personal needs and the laws of Arkansas. But it is important to know what to ask a lawyer as a person begins planning an estate.

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