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February 2020 Archives

Trusts can help manage assets for minor children

When making important decisions in life, many people can make similar decisions but for vastly different reasons. For example, some Arkansas residents may choose to create trusts as part of their estate plans because they want to protect their assets. On the other hand, others may have minor children who could not manage their inheritances in the event of their parents' passing, and a trust could help. Fortunately, this planning tool is versatile enough to fit most people's needs.

Could a professional be best for trust administration?

Finding the right tools to protect assets and wealth does not have to be impossible. Many Arkansas residents could benefit from creating trusts to protect their property and ensure that it is managed properly. Of course, trust administration can have its difficulties, and individuals may want to make sure that they have a trustee who can handle anything that comes their way.

Special needs trusts can prevent jeopardizing government benefits

Wanting to ensure that their children are well cared for is a goal that most Arkansas parents have. If parents have a child with special needs, they may have specific concerns about the type of care and the amount of money the child will need in the future. Though government benefits can often help with financial aspects, parents still typically want to leave their children an inheritance, which is where special needs trusts often come into play.

How do I know if a trust is right for me?

There are several different documents that you can include in an estate plan. And while no two estate plans are the exact same, many people use trusts to secure their assets and plan for their futures. But how do you know if a trust is right for you?

Living trusts can be a useful part of estate planning

Including a trust in an estate plan is something that many Arkansas residents feel is important. Creating a living trust can allow individuals to create the document during their lifetime and while they are estate planning. This type of trust can be immensely useful, and interested parties may want to know how to set one up.

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