• Estate Planning Provides Peace of Mind

    It is our experience that one of the main motivations that families have in preparing an estate plan is to ensure that your surviving spouse (and other family members) have minimal difficulties following death. The goals of most families include avoiding probate court, family fights, and taxes. In recent years a common estate planning goal often involves asset protection in…

  • How to Plan for Long Term Care Costs

    It is a reality that as we live longer, the need for long-term medical care continues to rise. A question I often get asked is, “How do we plan for the cost of long-term care, including nursing home costs?”┬áLong-Term Care Insurance is by far the preferred option since it offers the possibility of keeping people out of nursing homes by…

  • What You Need to Know About the Estate Tax

    One of the most unpopular taxes that exist is the estate or inheritance tax (commonly called the death tax!) The tax is based on the assets a person owns at the time of death. All citizens have an exemption from said taxes. The federal estate tax exemption is now $5,450,000 per person ($10,900,000 for a married couple!) Any assets owned…

  • What Estate Planning Documents Do Your Young Adult Children Need?

    No eighteen-year-old wants to think about a living will or a durable power of attorney when they are heading off to college. Likewise, no parent wants to think that their eighteen-year-old child needs documents like this. But the reality is, there are a few bare-bones estate planning basics that even the college freshman could benefit from and that becomes even…

  • Who Should Be Named As My Executor and Trustee?

    One of the critical decisions a person has to make when setting up their estate plan is who to name as their agent to carry out their wishes and manage their assets in the event of death or disability. There are several agent functions to be concerned with, including: Executor of your Will; Successor Trustee of your Trust; Agent under…

  • Out of State Estate Planning

    Did you recently retire to Arkansas from another state? The legal complications of moving from state to state are not as difficult as they were in past years but you still need to be knowledgeable about the tax and legal issues that can differ from state to state. For example, if you sold your home in another state recently, you…

  • What Should Estate Planning Cost?

    One of the first questions I often get asked by prospective clients is how much my services will cost. This is a fair question as fees should always be discussed at the beginning of a business relationship. Under ethical rules, an attorney’s fee should be reasonable and based on the time spent on the matter; the expertise of the attorney;…

  • How Are Your Grandchildren Paying for College?

    If you have a grandchild graduating from high school next month, chances are you have been hearing a lot of talk about scholarships, financial aid and the cost of tuition. The Wall Street Journal recently reported that the cost of college tuition, room and board is averaging about $19,000 a year at public universities and $42,000 at private nonprofit schools.…

  • How to Avoid Probate

    Probate is considered a dirty word by most seniors. Why is that? Probate can be defined as a court-supervised proceeding where a person’s Last Will and Testament is enforced and administered at the time of death. Probate is also required for a person who dies without a Last Will and Testament. Since it is a court-supervised process, it can be…

  • How to Pay for Assisted Living or Nursing Home Costs

    With advances in healthcare, statistics show that people are living longer. With advanced age, many people require assisted living or nursing home care during the later stages of life. The costs of such care can be very expensive and unfortunately, the options for payment of the care are limited. If forced to private pay for such care, the costs for…