Your Power of Attorney will provide convenience for you and your family when you are “out of pocket” and especially if you become incapacitated. Having a good Durable Power of Attorney in the stae of Arkasnas allows you to avoid a guardianship (in all but very rare circumstances).
Estate Planning We have a new section specifically for Special Needs Estate Planning. Follow this link to learn more about this service. If you have a child or loved one in Arkansas with special needs, this is one of the most important things you can do.
Wills
Probate can be avoided by making sure that assets are not in your name at your death. Please understand that a Last Will and Testament will NOT protect you from going through probate. Your will simply tells the judge how you want your assets to be divided as it goes through probate.
Trusts
Revocable Living Trusts (RLT) are very popular these days for a number of reasons. The primary reason is to avoid probate, the process of getting things that are “stuck” in your name to your heirs through a court process. Probate is time consuming, expensive and public. I can think of very limited circumstances (actually none right now, but if you really pushed me, I MIGHT could come up with a reason) why you should go through probate.
Power of Attorney
At the Elder Law Practice of H. Todd Whatley in Arkansas, we feel that the most important document for the elderly in Arkansas is a Durable Power of Attorney. A Durable Power of Attorney is a document that will allow someone else to manage your financial, housing, and medical needs.