A spendthrift trust protects an inheritance from being squandered away by the beneficiary or from being collected by a beneficiary’s creditors. It is a good option if you are keen on securing your assets. How can spendthrift trust help you? It is vital to preserve...
Experienced, Local Attorneys Serving Individuals, Businesses And Families With Distinction
Estate Planning
Protecting your assets from long-term care costs
Protecting assets from long-term care costs is essential to estate planning. In Arkansas, long-term care can be quite expensive, with nursing home daily costs averaging around $220. Medicaid can be an option for covering these costs, but it has strict eligibility...
5 trusts to help keep control over your estate assets
When you create your estate plan, you probably want to keep control over your assets as much as possible. After all, poorly managed inheritances can quickly evaporate, and leaving your assets to one individual means that those assets could quickly pass out of your...
Why is estate planning crucial in the face of inflation?
In 2022, the annual US inflation rate increased by 6.5%. This led to staggering price increases, such as fuel costs spiking by 42%. Inflation may be a fact of life, but it only highlights the importance of proper financial planning. A recent survey found that...
5 things that should be included in a living will
Many people in Arkansas, and elsewhere, think drafting a will is all that's involved in getting one's affairs in order. However, a standard will is not a full estate plan. End-of-life planning requires other documents, including a living will. What is a living will?...
Arkansas estate planning: 8 ways to get started
The sooner you start estate planning, the more prepared you are for whatever comes up. Life happens, and not always in the way we'd like. It pays to prepare your estate at any age. The following eight items can help you maintain control over your medical and financial...
Should I put my home in a trust to avoid probate?
Maybe you have a will, but all wills in Arkansas go through the probate process. You might have heard that probate can be complicated, time consuming and expensive. It could even reduce the size of your estate and thus what your loved ones will inherit. You want to...
4 estate planning mistakes to avoid in Arkansas
Creating an estate plan in Arkansas is already a tough undertaking that even professionals sometimes stumble upon. It costs time, money and constant attention and effort since it's a continuous process until your last breath. However, you can streamline the process as...
Estate planning essentials for blended families in Arkansas
Estate planning in Arkansas is essential to protecting your loved ones, especially if you are part of a blended family. Blended families often come with complex financial and legal issues that must be addressed to ensure everyone has distributed the assets fairly....
Who should take care of your parents’ care and finances?
At some point in your adult life, you may have to take responsibility for your elderly parents' finances and other needs. If you are an only child, the responsibility falls entirely to you, but if you have siblings that live in Arkansas, should you share this...