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. […]
Will Law in Arkansas
Will Law Will law is an ancient area of law, going back to biblical times. Wills and will law from the Greek period forward is common. It can be straightforward, or complicated depending on the circumstances. A Last Will and Testament is a legally binding document that says how a person (the testator) wants their […]
I Have Twins That Are Disabled, Can I Use One Trust?
As with all legal questions, it depends… First, do they both have the same level of disability? Will they both qualify as disabled under the Social Security Definition? If so, then you can setup one third-party Supplemental Needs Trust (Special Needs Trust) to serve both of them. If one of the twins should pass before […]
Attestation Clause
An attestation clause is a provision at the end of a Last Will and Testament that sets out the legal requirements of the Will and says those requirements have been met. By signing the attestation clause, a person is stating and confirming that everything within the clause is true. For example: This instrument, consisting of 7 […]
Abatement
Abatement is a word you usually hearing during the administration of an estate. The administration of an estate is the process of gathering the assets and distributing the assets under court supervision. If the assets in a probate estate are not sufficient to pay the debts, then the assets named to people in the Will […]
How Can I File a Claim Against An Estate?
Filing a claim against a probate estate is probably easier than you think. If somebody dies owing you money, you may make a claim, but if there are not enough assets, your may only get a part of what you are owed or even nothing. First, you will need proof of the claim against an […]