Deciding to set up an estate plan is a wise and responsible decision. Most people associate an estate plan with a will, but there are other types of documents that could be helpful as part of an overall estate plan. One of these documents is a power of attorney. You...
If you have a loved one with extensive medical needs, you might worry about how they’re going to get by when you’re no longer around. Fortunately, there are steps that you can take to ensure that there’s a plan in place for them. One of your best options is to use a...
When people think about estate planning, they often conjure images of wills and trusts, all aimed at specifying how assets will be distributed. While this is certainly a major component of the estate planning process, it isn’t everything. So, if you devote all of your...
You and your siblings inherited the family farm. No one wants to sell it, but how do you divide it up so that each of you winds up owning your fair share of the land? Or what if one sibling wants to sell the farm, but the others do not? In either case, the land must...
Many of us in Arkansas struggle with debt. But while we’re focused on fighting our own battles, you might find yourself wondering if you’re going to end up shouldering your parent’s debt once they pass away. This is a legitimate concern, as most of us don’t have the...
If your parents have not created their estate plans yet, they are not alone. According to one survey, only about one in three Americans have some kind of estate plan in place. Those who do not tend to give excuses such as "It's too expensive" or "I don't like to think...
When you are choosing the executor of your estate in your will, your first inclination may be to choose your adult child to fulfill this role. After all, they may be close to you and seem to be relatively responsible in their personal life. However, there may be times...
There are few responsibilities greater than being named a person’s health care surrogate to make decisions for them if they are unable to make them on their own. In Arkansas, as part of an advance directive for health care, it is necessary to name a surrogate. This...
Most likely, you are familiar with what a will is even if you don’t happen to have one yourself. Depending on your age and where you are in your life, you may not feel that a will is necessary for you to have yet. Well, if you have any assets (which pretty much...
In their wills, people name who they wish to be the personal representative of their estate. The role of the personal representative is to settle the estate after the person's death. Typically, the person chooses a relative or trusted friend who may or may not have...