Estate Planning for Minor Children
Estate planning for minor children is one of, if not, the most important reason to plan now. Without a plan, the government makes the decisions for you and your children. If you want to control your children’s inheritance, you need to do so now. If you want to choose who will raise your children, you […]
It Takes More Than a Will to Prevent Probate!
It takes more than just a Last Will and Testament to prevent Probate. Many people I talk to think that having a Will prevents probate. A Will requires probate to be validated and administered… You can do some other things on top of your Will to prevent most if not all probate…
Can’t my spouse make my medical decisions?
It is a common misunderstanding that your spouse automatically has the power to make your medical decisions. If you don’t have a healthcare power of attorney in place, your spouse may have to go to court to get permission to make healthcare decisions. You can stop that from happening by setting up a Healthcare Power […]
True Story
As I was sitting and thinking about what to write this month, a client told me the story of their husband. A year ago, he pulled through cancer and was in remission. Then, without warning, something that could happen to anybody happened to him. He developed an abscess inside his brain. Within a week, he […]
Estate Planning Academy Episode 11: Trusts (Video)
Trusts Terms and Definitions Trusts have evolved over time and have their own language. Here are some of the more common terms you need to know. Trusts Definition My definition reads like this: “A Trust is a contract between the grantor and trustee where the grantor transfers title of assets to the trustee and the […]
Estate Planning Academy Episode 6: Benefits of Estate Planning
Peace of Mind Protect Adult and Minor Children Protect Minor Children Other Benefits Ease Burdens on Your Family
Estate Planning Academy Episode 2: What is an Estate?
Traditionally estate is defined as the interest you have in property. Property is anything you can own including, but not limited to land, houses, cars, patents, money, stocks, bonds, and more. You can also think of an estate as a collection of stuff. Your stuff. The stuff you own individually and with others. Wherever it […]
Estate Planning Academy Episode 1: Introduction and Overview
Hello and welcome to episode 1 of the estate planning academy. I’m your host, Gary DeWitt, and this is the internet’s most passionate show about estate planning. Today’s topic is About Gary and an overview of the academy. I want to spend just a few minutes telling you why I do estate planning. I wasn’t […]
Why does probate in Arkansas take so long (Springdale Probate Attorney)?
Probate, with or without a Last Will and Testament, will take a minimum of 6 months in Arkansas!!! Opening Probate Opening probate is done by filing a petition with the clerk. In Arkansas, if nobody objects, a hearing can be done immediately. However, if any party has entered a demand for notification, then a hearing […]
Estate Tax is Gone; Long Live the Estate Tax
If estate tax is gone, why do I need a trust? For 2018, an individual gets about $11.18 million of estate tax exemption. This means that if you passed in 2018, the first $11.18 million would not be taxed. A couple could possible double that to $22.36 million. The exemption also includes lifetime gifts made. […]