A Will Plan Includes More Than A Will
A Last Will & Testament is the traditional estate planning tool. They have become less popular in recent years as people became more aware of the benefits of living trust planning. We view will planning as entry level basic planning for younger clients or clients with limited means. A will does not avoid the probate process for the assets that pass under the will, but a properly drafted will can answer other important questions. It is clearly better to have a will than to die intestate. The attorneys in our Little Rock based law firm can help you develop your will-based plan should include all of the following:
- A Will
-To nominate guardians for minor children
-To provide for disposition of property upon death
- A general durable power of attorney to authorize others to manage your property in the event of your incapacity
- A health care power of attorney to authorize others you choose to make health care decisions for you
- A properly executed HIPPA form—otherwise medical doctors will refuse to talk to your family members
- A living will expressing your desires for end of life decisions
- A memorandum providing for the disposition of tangible personal property
Other Things You Can Do In A Will
Many clients include language in their wills that accomplish these objectives:
- Protect Property in the event your spouse remarries
- Provide divorce, lawsuit and immaturity protection for your heirs by creating testamentary trusts
- Make special provisions for heirloom property to pass on family traditions, faith and values
We will always listen first. We make recommendations only after we clearly understand your unique situation. We are known for our ability to communicate ideas and strategies using straightforward language and graphical tools that allow clients to develop a real understanding of their planning choices.
Famous People Who Failed To Make A Will
Because wills are made a part of the public record, we all have access to them. There are a number of websites that provide links to these wills, and it is interesting–and sometimes entertaining–to see how these famous people provided for the disposition of their assets when they died. Its also interesting–and surprising–to see the list of famous people who failed to make a will.
ILP + The Book
It is possible to protect yourself, your family and your business or professional practice from the real threats that keep you up at night. The law provides more and better solutions than ever before in history. In this book, Stan explains in clear, understandable language how these powerful solutions can be deployed to protect what you have earned and built.
Available Early Summer 2015
ILP + The Webinar
In this hour-long webinar, Stan explains how to avoid probate and protect your heirs with a revocable living trust. You will learn how to protect your loved ones what many consider to be an expensive, lengthy, and unnecessary court process. You will also learn what a living trust is and why having a living trust will protect your children, grandchildren and other heirs.