Probate and Estate Planning
Arkansas Probate and Estate Planning
A will specifies how you want your assets distributed to your heirs after your death. The process of distributing deceased persons’ belongings is referred to as Probate. If a person does not have a will, the State will determine how these assets will be distributed. Your will names an executor who carries out your wishes with the help of the court. Without a will the State can name a personal representative who does not know you or your family or your wishes.
Some assets are transferred without the need for probate such as bank accounts or insurance policies set up with beneficiaries. Other assets pass automatically to a surviving spouse if no will is available. If you want to determine who will receive your assets when you pass, you need the services of a Probate and Estate Planning attorney from Nolan, Caddell and Reynolds.
You need to understand your options when you create your will such as:
- Guardianship of your minor children
- Protection of your family heirlooms and valuable collections
- Trust creation to control when assets pass to the heirs
- Asset Inventory to make sure your assets can be found by your heirs
- Tax Planning to minimize “death taxes”
If you are inheriting assets from a loved one you may need a lawyer to help administer the estate in matters such as:
- Collecting assets
- Posting notices to creditors
- Paying debts
- Handling disputes about the fairness of distribution
At the law offices of Nolan Caddell Reynolds, our experienced Probate and Estate Planning Attorneys know how you can plan your estate to insure your wishes will be carried out without being contested and with a minimum of cost to your heirs.