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 Trusts – Excellent Estate Planning Tool

Estate planning trusts can be an excellent estate planning and asset protection tool.  But, what kind of estate planning trusts should you use? Hi, I’m Gary DeWitt, Estate Planning Attorney in Northwest Arkansas. Estate Planning Trusts Estate planning trusts come in four major divisions.  These 4 divisions break down into two divisions. The first division is […]

Case Study

Client’s Immediate Need – Client recently lost his wife and needed a plan that would protect and take care of his children in the future. His greatest concern was who would carry the responsibility of caring and raising his children should he unexpectedly pass away. This is a common concern for many parents, but especially […]

8 Potential Problems With Revocable Living Trusts

Problem #1: Choosing the wrong trustee.  Many people believe that you must name your bank as your trustee, but this is not the case. I recommend you act as your own trustee (if you are married, your spouse can serve as a co-trustee) so you continue to manage and invest your assets, just as you […]