Probate in Northwest Arkansas: How Much Will Probate Cost?

As with many things, probate cost is going to depend on the complexity of the case. Those factors include: You can expect certain fees: Some of these costs are fixed by state law, some will vary. But, in general, you can expect probate to cost about 5% to 10% of the GROSS estate. Your gross […]

When Should I Plan? (Video)

Joe thought he had plenty of time for estate planning. But one night he swerved to miss a car in his lane and left the road. Now his family faces probate. Gary was a 40-year-old fairly health guy. Never thought about planning. However, one day on his way to work his chest started hurting and […]

Why Should I Plan if I’m Not Rich? (Video)

Marge didn’t have much. Her home and that was about it. Marge had to go into the nursing home. However, she had never gotten around to preparing a power of attorney. Her family had to go through the courts and get a guardianship to be able to make financial and healthcare decisions. Then, when it […]

2 Important Reasons You Need an Estate Plan (video)

The first reason you need an estate plan is to be in control of the distribution of your estate. Without a plan, the State, not you, decides who controls distribution of your stuff. You lose all choice when a Judge takes over. Recently I had a lady come in who had just lost her husband […]

Why You Don’t Need an Estate Plan

You don’t need to create your own estate plan and I want to tell you why. The State Government has already written a plan for you and if it works for you, you don’t need to write your own plan. Let me lay it out for you, and you can decide if their plan is […]

7 Documents That Are Critical to Planning Your Estate

1 – Durable Power of Attorney A Durable Power of Attorney let you pick somebody you know and trust to manage your financial and legal matters if you can’t. This may be the most important document you can create. Without it, your family may be forced into court in a proceeding for a “guardianship.” This […]

What is the Difference Between Trustee and Guardian in Arkansas?

The difference between trustee and guardian is immense. It is like comparing apples and zebras. Guardian A guardian, in this context, is a person appointed by a court and Judge in a guardianship proceeding to make another person’s (the ward) legal, financial, and healthcare decisions. The guardian is then responsible for managing the ward’s financial, […]

Estate Planning Client Profile #142 – Married Couple With Minor Children

They are a couple with minor children. They want to provide for their children and make sure they provide their nominations for guardians if something should happen to them while their children are still minors. We created a trust based plan that included the following: The Trust enables their property to avoid probate and to […]

What is Estate Planning?

Estate Planning Definition What is Estate Planning? The part that people get right about it is that estate planning is about distributing your property, your final estate, to others. That definition misses many important things a plan also does. Estate planning also includes Estate planning is as much about protecting you and your family during […]