Legal Assistance In Preparing Your Estate Plan
Be proactive in protecting your assets and your family’s financial future with help from Flynn Law Firm. We can assist you in writing an estate plan that will aid you in retaining your personal properties and business interests. This legal document ensures that your intended preservation and distribution actions for your assets are followed in case of an emergency.
What We Can Help You With
- Creating living wills and trusts
- Legally protecting your personal and business interests
- Managing assets in case you become incapacitated or pass away
- Making sure your assets are handled by the designated individuals
- Finding ways to prevent unpleasant future processes in probate court
Why Choose Us
At The Flynn Law Firm in Cabot, Arkansas, our clients are more than just a case number to us. We take the time to understand their goals in creating an estate plan. This enables us to provide them with personalized services that meet their unique needs.
Why Do I Need To Hire An Estate Planning Lawyer And Create An Estate Plan?
People choose to create an estate plan for many reasons at different stages of life. Some of those reasons include the following.
- Providing for Incapacity. If you are incapacitated, you will be unable to manage your own financial affairs. We can help you assign someone you trust to make the right decisions, who will take over the decision-making should you become unable. An expert Medicaid Planning Lawyer can also assist you with planning for assisted living.
- Avoiding Probate. If an estate goes through probate, that can become expensive and time-consuming. In order to allow your family immediate access to your assets, you need an appropriate estate plan put into place.
- Providing for Minor Children. In order for your minor children to live with someone you prefer and trust to make the right decisions for them, you must have an estate plan in place. Otherwise, someone you don’t approve might end up with guardianship of your children, or worse, they could end up in foster care.
- Planning for Death Taxes. You will need an experienced estate planning attorney to help you ensure that your estate is reduced by the minimum amount of taxes once you pass away.
- Charitable Bequests-Planned Giving. You can also make sure that any charities you want to leave money for will get exactly what you would like to leave to them.
It is never too early to begin creating an estate plan tailored for your specific situation, but is a must-have as you grow older or own a business. An experienced Elder Law Attorney or Business Succession Planning Attorney at Flynn Law Firm with help you create a plan that will protect your assets and distribute them according your wishes. If you are located in or near Cabot, AR, call (501) 819-8090 for a consultation.
What Exactly Is Estate Planning And Why Do We Need It?
Estate planning is put into place so that people have some control and comfort with what will happen to their assets upon passing away. Together with an estate planning attorney, people will complete documents that ensure people they trust will execute their wishes, whether it be the trustee of a living trust of an executor of a will. They might also create a separate trust or annuity for people in their lives who might have special needs. This allows people to have some say about what happens to their belongings and assets when they are no longer alive… Read More
What Are Some Of The Other Most Common Types Of Trusts That Are Used In Arkansas And Their Benefits?
You could also create an irrevocable trust, which is more often used with Medicaid planning. With Medicaid planning, you need to be able to show that you no longer have control over your assets. The trustee in an irrevocable trust truly has control of your assets. This is good for when someone expects to become incapacitated in any way and you need a person you trust to manage your affairs. In these cases, the person making the irrevocable trust will put a small amount of money to the side for personal use… Read More
Do I Need An Arkansas Estate Planning Attorney Or Can I Do This On My Own?
Technically, a person can write a holographic will. This is when you write out all your wishes on a sheet of paper in your own handwriting. As long as the will is written entirely in your own handwriting, it is legal to be filed in probate court. If you want the comfort and assurance that your wishes are followed exactly, it is best you work with a qualified and experienced estate planning attorney. An experienced attorney is familiar with the law and documents that will ensure that your plan meets your exact wishes… Read More