Estate Planning Attorneys in Fayetteville, AR
Estate Planning, Trust Administration, Elder Law, Probate and Advanced Estate Planning Attorneys in Fayetteville, AR
Complete Estate Planning Help for Families
Preserving your wealth and safeguarding your assets is our primary focus. Our Estate Planning and Elder Law attorneys service communities in Northwest Arkansas, including Fayetteville, AR and Springdale, AR. Our Arkansas Estate Planning and Elder Law attorneys can provide you with the most feasible solutions to your Estate Planning and Elder Law needs. Estate Planning is no longer just for the wealthy. Estate Planning can help you achieve your financial goals, and help ensure financial care for your loved ones in your lifetime and after.
Fayetteville, AR Estate Planning: Drafting Your Will
Having a valid Will is one of the most important documents your loved ones can possess at the time of your death. A Will instructs your loved ones and Probate court on how your property should be disposed of upon death. A Will document needs to be prepared with your situation in mind with the assistance of a qualified Estate Planning attorney. Some people choose the alternative of drafting a Will on their own using a do-it-yourself Wills kit. The outcome of these do-it-yourself Wills kit documents are often times more disastrous than not. Fill out that form incorrectly, and your Will could be deemed invalid by a Probate court. The Estate Planning attorneys at our Fayetteville, AR law firm can assist in creating a Will that’s right for you.
When a person dies with a Will, the Will must go through the Probate process. Probate is the process of determining the validity of the Will, and then executing the Will based on the Will’s instructions. When a person passes without a Will, the Probate court determines how an estate is to be administered and managed. The Probate process can be both time consuming and confusing. Our Estate Planning and Probate lawyers in Fayetteville, AR can help you with the Probate process. Hiring the assistance of a qualified Probate attorney can potentially save you money in the long run. By allowing one of our Estate Planning and Probate lawyers to assist you with the Probate process, you’ll gain the peace of mind knowing that the Probate procedures will be handled properly, giving you more time to grieve the loss of your loved one.
Most people know what a Will is and understand its purpose; however, most people are unaware of what a Living Trust is. A Living Trust, much like a Will, can communicate to your loved ones about how you want your assets distributed. The biggest benefit of having a Living Trust is that assets that are funded into a Living Trust do not go into Probate, saving your family money in court fees. Also, a Living Trust, if done properly has the potential of reducing estate taxes, preserving more of your estate for you and your family. Find out from one of our Estate Planning attorneys in Fayetteville, AR how you can benefit from a Living Trust.
Trust Administration can encompass a host of duties from legal to financial, often times making it difficult for the successor trustee to manage. Some general trustee duties in Trust Administration include: paying any debt against the estate, paying annual income taxes, paying any estate taxes, providing periodic accounting reports to beneficiaries, as well as finding ways of making the Trust a viable source of income.
The residents of Fayetteville, AR and its surrounding areas are recognizing how important Estate Planning, Elder Law, and advanced Estate Planning often times is to their families financial security. Our advanced Estate Planning lawyers in Fayetteville, AR can devise an advanced Estate Plan that’s right for you. Advanced Estate Planning has the primary focus of legally reducing your tax liabilities to preserve the wealth that you have created for your family. Our Fayetteville, AR Estate Planning, Probate, Elder Law, Trust Administration and advanced Estate Planning attorneys can advise you on the best advanced Estate Planning strategies for your personal situation. These advanced Estate Planning strategies might include creating Family Foundations, Family Limited Partnerships, Irrevocable Life Insurance Trusts, Grantor Retained Income Trusts or Charitable Remainder Trusts.