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A power of attorney (POA) document is a powerful tool that many Americans use in their estate plans. According to Caring.com, 18- to 34-year-olds with an estate plan increased by 50 percent in the past two years. Unfortunately, many people who attempt to use a power...
Creating an estate plan is the best way to protect your assets when you are gone. It allows you to decide what happens to your property when you pass. There are many different elements to an estate plan that you can customize to suit your needs and desires, but the...
There is a common misconception that writing a will is something that only rich older people do. However, young people also have assets to pass on and family worth considering. Your 20s are perfect years to start the estate planning process. When you understand how a...
Parents who are aware they should create a will may worry about approaching the task. They feel frightened over hashing out complex, legal details in a formal setting. The good news is they can jettison these fears. A proper estate planner has compassion and knows how...
Every state has laws governing probate or the legal process that validates and distributes a will's contents. For example, Arkansas law dictates that all estates with a total value exceeding $100,000, outstanding creditor debts, or active will contests, must go...
Picking a power of attorney is a critical step in estate planning. This essential designee makes medical decisions on your behalf when you cannot. Consider whom you would like to serve in this role. Then, hire an estate planning professional to make your selection...
Many people spend their working years without thinking about estate planning. The need to do so may seem far in the future, or the subject of death is uncomfortable for them to address. However, years go by quickly. If you are someone who waited to plan, you may...
Few things are more rewarding than raising a child. After all, you have an opportunity to mold the young one in your family into a unique and competent adult. Still, because of a terminal illness or catastrophic injury, you may die before your child turns 18. While it...
As you plan your estate in Arkansas, it is important to understand the concept of fiduciary duty. Someone with fiduciary duty has the authority to manage your financial or other interests and agrees to put those interests before his or her own. Get the facts about...
Whether you are just starting a family or have already retired, if you are like many Americans, you may have avoided planning your estate. According to a 2021 survey by Caring.com, two out of every three U.S. adults do not have a will. You may assume that you do not...