We at the Morgan Law Firm serve the North Central Arkansas
region with the wills planning and drafting. We have been preparing wills for
many years and are skilled in making sure the will fulfills legal requirements
and does what you want it to. We interview you thoroughly as to your family
situation and assets and craft the will to carry out your objectives while
taking advantage of strategies to reduce your estate taxes. We will be here for your family members as
they carry out the wishes of the decedent.
Call us today for a simple Will or other estate planning instrument.
A trust allows a person, several people or a corporation to manage your estate for you on behalf of your heirs or others that you designate as beneficiaries. The trustee that you assign holds legal title to the property but they are obligated to do so for the benefit of the individuals or corporations that you have designated. At the Morgan Law Firm we can fully discuss the benefits of a trust and how it can serve you and your family. Determining whether you should have a will or trust can be fully explained to you as well.
At the Morgan Law Firm, we are able to properly prepare many types of trusts, depending on your individual needs and goals. A living trust is created while you are alive, may be used to avoid probate proceedings and can have certain tax advantages as well. This type of trust can be either revocable or irrevocable as you feel is best. With a revocable trust you can change its terms or cancel it altogether. An irrevocable trust cannot be changed or cancelled but can have advantages not seen in a revocable trust.
Putting You in Control of Your Estate
As opposed to probate, the dealings of a trust are private. With a trust that has been correctly created, beneficiaries will receive what you want and when you desire them to acquire it. It leaves you in control of your estate, even after you pass on. If you are leaving an inheritance, you may want to ensure that it is not wasted away by unwise financial decisions and a trust can help you control this factor. Most of us want to ensure that what we leave behind will, in fact, be used for our heirs and other benefactors. A trust can help you do just that.
A trust requires certain key elements in order for it to carry out your wishes. There has to be a trustee who will see to the administration of your estate as you have spelled out. The beneficiaries must be clearly designated. The property of the estate and how it is distributed has to be written specifically, leaving no room for doubt. The trust should formally state what the duties of the trustee should be. Trusts put you in the driver's seat and can provide for the care of your family in a way you desire.
If you desire to be in control of your estate now and in the future, contact a the Morgan Law Firm for knowledgeable assistance.