Wills & Trusts Services
Your loved ones and the life you’ve built deserve thoughtful protection. At Arkansas Legacy, we help you create a clear plan that honors your wishes and simplifies future decisions. We know these choices can feel personal, so we’re here to guide you every step of the way.
It can be unsettling to imagine a time when you might not make your own healthcare choices. An advance directive in Arkansas gives you control, even if you’re unable to speak for yourself. A living will advance directive lawyer in Arkansas will ensure your wishes guide important medical decisions no matter what the future holds.
Want to protect your assets while still making sure your spouse has access to funds? That’s exactly what a SLAT is for. By meeting spousal lifetime access trust requirements, you keep financial flexibility and protect your shared assets. Our spousal lifetime access trust lawyers will walk you through every step of setting up a SLAT.
Ever worry about assets falling through the cracks in your estate plan? A pour over will in Arkansas acts like a safety net, catching anything you might have missed. Our pour over will attorney in Arkansas makes sure nothing gets left behind—because the last thing your family needs during grief is discovering assets stuck in probate limbo.
A dynasty trust can carry your family’s financial security far into the future. The Arkansas Dynasty Trust Act creates a structure that protects and grows assets for generations. A dynasty trust Arkansas lawyer at Arkansas Legacy will help set it up so your loved ones benefit from your hard work for years to come.
Worrying about the cost of long-term care can take a toll on you and your family. An Arkansas Medicaid trust can shield certain assets while preserving your eligibility for benefits. With an Arkansas Medicaid trust, you can protect what you’ve built while still getting the care you need—because you shouldn’t have to choose between good care and leaving a legacy.
Irrevocable trusts can be a powerful tool for protecting your family’s legacy, but the rules can feel strict. Following Arkansas irrevocable trust law helps safeguard your assets and may reduce estate taxes while avoiding probate. An irrevocable trust attorney in Arkansas can show you if this option aligns with your long-term goals.
Want the flexibility to change your mind as life evolves? A revocable trust gives you exactly that. Thanks to Arkansas revocable trust laws, you can adjust the trust if life or financial needs change. Our revocable living trust lawyers take the time to understand your goals and craft a plan that fits your unique situation.
A Medicaid asset protection trust in Arkansas helps secure your home, savings, or other property while allowing you to qualify for Medicaid. This trust preserves vital resources for you and your loved ones. A Medicaid asset protection trust lawyer in Arkansas can help avoid probate headaches while maintaining complete control during your lifetime.
Terrified of seeing your life savings vanish to pay for nursing home care? A Medicaid asset protection trust in Arkansas could be your financial lifeline. Our Medicaid asset protection trust lawyer in Arkansas helps families just like yours protect what you’ve worked so hard to build. We won’t let one health crisis wipe out your legacy.
Caring for a loved one with a disability can bring both blessings and challenges. A special needs trust in Arkansas preserves their ability to receive government benefits. Our special needs planning attorney in Arkansas will help design a plan that respects your loved one’s dignity and ensures they remain properly supported.
A generation skipping trust in Arkansas passes assets to grandchildren or future descendants, potentially saving on taxes and building a longer-lasting legacy. A generation-skipping trusts attorney can show you how to set one up, creating a thoughtful path toward protecting your family’s future for many years to come.
About Arkansas Legacy Planning
We are not your typical law firm. We are a law firm where you’re greeted by name, not case number. Where appointments don’t feel like those nerve-wrecking dental visits. Where attorneys talk like real people, not legal dictionaries with legs. That’s Arkansas Legacy Planning.
We built this firm on the principle that dealing with probate shouldn’t add to your grief. We knew many law firms treated their clients like they were an interruption rather than a priority. But we knew Arkansas families deserved better.
So we flipped the traditional law firm model upside down. Instead of measuring success by billable hours, we measure it by peaceful transitions, protected legacies, and families who feel supported during life’s hardest chapters.
At Arkansas Legacy Planning, we listen to your worries, honor your goals, and tailor our legal counsel services to fit your circumstances. By doing so, we strive to replace fear with confidence and uncertainty with peace of mind.
Understanding Wills and Trusts
Wills and trusts are often mentioned together, but they serve different roles in estate planning. Let’s cover the basics.
What Is a Will?
A will is a legal document that outlines how you want your assets distributed after your death. In Arkansas, this important document allows you to name who will receive your property, appoint a guardian for minor children, and designate an executor to manage your estate, among other things.
Without a will, Arkansas law determines who receives your property through what’s called “intestate succession.” This means your assets may not go to the people you would have chosen.
A will only takes effect after you pass away and must go through probate, which is the court process that validates your will and oversees the distribution of your assets. This process can take months or even years in Arkansas, and court fees can reduce the value of your estate. Assets held in a trust, on the other hand, avoid the probate process.
What Is a Trust?
A trust is an arrangement where you transfer selected assets to a trustee, who manages those assets on behalf and for the benefit of your chosen beneficiaries. Unlike wills, trusts can take effect during your lifetime and continue after your death.
Arkansas recognizes several types of trusts, including:
- Revocable living trusts
- Irrevocable trusts
- Special needs trusts
- Charitable trusts
Many people use both a will and a trust to keep their estate plan cohesive. By having both a will and a trust, you cover more ground, ensuring that no asset is left out and that your family has a clear picture of your wishes.
Trust Administration and Funding
Trust administration involves managing the assets within a trust according to the terms you set out. If you’re the trustee of your own trust, you retain control while you’re alive. If you pass away or become incapacitated, a successor trustee steps in to manage or distribute your assets. Arkansas has rules and regulations that trustees must follow, including acting in the best interest of beneficiaries.
Trust administration involves the following steps:
- Identifying trust assets: First, the trustee reviews all assets that were placed into the trust, such as property, bank accounts, investments, and others.
- Debt payment and notifications: If the trust becomes active after you pass away, it might need to settle debts or notify creditors.
- Asset management: The trustee must manage the trust property responsibly. This can include maintaining real estate, investing assets, or protecting them from depreciation if possible.
- Asset distribution: When the time is right (often after your passing), the trustee transfers or “distributes” the assets to your beneficiaries based on the trust instructions.
A trustee often benefits from legal guidance to make sure they comply with Arkansas laws. Errors can lead to legal problems or financial harm for beneficiaries. This is especially true if your trust is part of a larger estate plan that also includes a will, since the trustee and personal representative (for the will) may need to coordinate.
Funding the trust is something entirely different. Trust funding is the process of placing your assets in the name of the trust. For a trust to be effective and help avoid probate, you must retitle your property so it belongs to the trust.
Common examples of trust funding include:
- Real estate: Executing a new deed that lists the trust as owner.
- Bank and investment accounts: Changing account ownership to the trust or listing the trust as a beneficiary.
- Vehicles: Retitling cars, boats, or RVs into the name of the trust if desired.
- Personal property: Sometimes, people transfer assets of high value, like art or heirlooms, into a trust for clarity on who should inherit them.
Many people make the mistake of creating a trust but never funding it. This is like buying a safe but never putting anything inside it. If assets aren’t properly transferred to your trust, they may still have to go through probate. This defeats one of the most notable benefits of having a trust.
How to Choose an Estate Planning Attorney
- Look for relevant experience: The law of estate planning and probate can be quite technical. You will want an attorney who focuses on this area rather than someone who dabbles in many fields.
- Pay attention to communication style: How does an attorney explain things? Do they use plain language or unnecessary legal jargon during the initial meeting? You need to feel comfortable asking questions and speaking openly about sensitive topics.
- Ask about their process: Every law firm handles cases differently. You might prefer a firm that emphasizes personal attention and quick follow-ups. Make sure you’re clear on how often you can expect updates and who will be your primary contact.
- Read reviews and testimonials: Past clients can offer insight into what it’s like to work with a particular firm. They might mention if the lawyers were empathetic, responsive, and knowledgeable about the law.
- Discuss fees and costs up front: Estate planning fees vary depending on how much help you need. Ask about the attorney’s billing structure and get a clear picture of the total cost, whether it’s a flat fee, hourly rate, or something else.
- Discuss fees and costs up front: Estate planning fees vary depending on how much help you need. Ask about the attorney’s billing structure and get a clear picture of the total cost, whether it’s a flat fee, hourly rate, or something else.
Ultimately, the choice comes down to trust. Can you rely on this attorney to protect your interests, handle stressful details, and keep you informed about what’s going on? After all, your family’s well-being depends on it.
Why You Should Choose Arkansas Legacy Planning for Your Wills & Trust
At Arkansas Legacy Planning, we’re different from other estate planning firms, and our clients notice it from the first meeting.
We’re real people who happen to be lawyers. We don’t hide behind legal jargon or stuffy formalities. We will sit with you and have honest conversations about what matters most to you.
We know every family has a story. That’s why the estate planning process should reflect your unique journey. We want you to walk away feeling certain that your family will be cared for and that your wishes will be carried out.
We understand Arkansas families because we are one. Our deep roots in this state mean we know the local laws, probate courts, as well as property and tax considerations that affect your estate plan.
Contact Us
Let’s talk about protecting your family’s future. Getting started is simple—just call us for a friendly, no-obligation conversation about your situation. Don’t put off until tomorrow what will protect your loved ones today. Your family is counting on you, and we’re here to help you get it done right.
Contact Us
Feeling lost or worried about your future? Our team at Arkansas Legacy Planning is here to provide personalized support for all your estate planning needs. Contact us today so we can start working on a clear, tailored strategy designed specifically to safeguard what matters most to you.
