• Tips on Titling your Car for Seniors

    If you are retired, what is the best way for you to title your vehicle so that your surviving spouse and children do not have any problems following your death? If you are in a first marriage, and your spouse is still alive, you would usually want to hold the title into both you and your spouse’s name. I recommend…

  • Estate Planning for Time Shares

    Many seniors have purchased timeshares. These vacation properties give the senior the right to vacation one week or more each year at a condominium that can be located anywhere from Florida, to Hawaii, to foreign countries. The timeshare market has changed dramatically over the past 10 years. Rather than owning a specific week in a specific property, owners’ have points…

  • What Should You Share With Your Family About Your Estate Plan

    Communicating with your family about your estate plan is a sensitive but important topic. The need for good communication between seniors and their adult children is important as the children often have a role in the estate plan (whether it be as Agent under a Power of Attorney, Executor under a Will or Successor Trustee of the Family Trust). In…

  • Estate Planning for Families without Children

    Individuals oftentimes become motivated to create an estate plan for their family once they have children, to name a guardian for their minor children and to ensure their minor children are cared for. Sometimes the motivation is not there to create an estate plan for those without children. However, an estate plan is just as important for those without children,…

  • Tangible Personal Property -Who Gets All My Stuff?

    Estate planning attorneys and their clients spend a great deal of time drafting a plan that divides the large assets of an estate equally and equitably among their children, grandchildren, or other beneficiaries. However, they sometimes give far less thought to the other stuff, including tangible personal property that may have more sentimental value than monetary value. Oftentimes, it is…

  • Estate Planning For Blended Families

    Blended families, or families consisting of a couple and their children from their current and all previous relationships, are becoming increasingly more common. Blended families and second marriages present their own unique challenges to estate planning. The main concern most of my clients in blended families have is ensuring that each spouse¬ís share of their estate ultimately goes to their…

  • Wills, Probate, and Estate Taxes

    There is much confusion about the relationship between wills, probate, and estate taxes. This article will attempt to explain these subjects. First, I will address the confusing topic of Wills and probate. If you die leaving a Last Will and Testament, and you own property that is just in your name (i.e. property not in joint ownership with someone else…

  • Probate Avoidance Strategies¬†

    Probate is a court-supervised proceeding where a person’s Last Will and Testament is enforced and administered at the time of death. Since it is a court-supervised process, it can be quite expensive (up to 6% of the estate value) and time-consuming (minimum of 6 months in Arkansas). Based on these issues, most seniors attempt to avoid having their estate pass…

  • How to Keep Your Heirs from Wasting Their Inheritance

    There is an old Chinese proverb that states, “Wealth does not pass three generations.” This proverb shows that the first generation works hard to create a fortune; the second generation lives high, and the third generation squanders what is left. We all know of situations where the grandparents left large estates that were completely wasted by their children and grandchildren.…

  • New Year, New (Or Updated) Estate Plan

    I am a firm believer that everybody “rich, poor, and those somewhere in-between” needs an estate plan. If you have never thought about an estate plan, perhaps that should be your New Year’s resolution. If, however, you have an estate plan already in place but have not reviewed it or updated it in the past several years, perhaps that should…