Rogers, AR Wills and Trust Lawyer
Drafting a will can be a daunting aspect for a person that has rarely considered what will happen after they pass away. Leaving a will behind after your death will not only help you distribute your estate, but it will help you care for members of your family. It is vital to understand the importance of drafting a will, establishing a trust, or using other estate planning tools. If you need legal assistance to establish a will or trust, you should consult with an experienced Rogers wills and trust lawyer today.
At Gunn Kieklak Dennis, LLP, we recognize the many ways a will or trust can benefit a family after a person’s death, and we are ready to provide you with the legal representation that you deserve. Drafting a will or establishing a trust can be a complex task, and we are here to alleviate your concerns. To schedule a confidential consultation to discuss estate planning, contact Gunn Kieklak Dennis, LLP at (479) 439-9840. You may also contact our firm online.
Establishing a Will or Trust in Rogers, Arkansas
Wills and trusts are vital tools that are used for estate planning for Rogers, AR residents. There are a number of benefits to establishing a will or trust for your loved ones before you pass away. Our firm understands that this could be a difficult topic, and we are here to listen to and address your concerns.
How Wills Work in Rogers, AR
A will is a legal document that dictates the distribution of your estate after you pass away. Your estate consists of everything you own, from bank accounts and personal property to real estate. However, there are a number of other uses for a will. For example, a will is a valid instrument to use to convey your wishes for a certain type of funeral. Additionally, if you wish to provide for a family member with special needs, a will can ensure they receive the property or other assets you set aside for them.
It is important to note that dying without a will, also known as dying intestate, can cause serious issues for a family. When a person dies intestate, the state will attempt to distribute their property in a manner they believe would be consistent with the decedent’s will. For example, if the decedent died and left behind a spouse and children, they would share in the decedent’s estate.
However, if a decedent passes away without a will, the decedent may be unable to provide for certain family members if they intended for them to share a portion of the estate. Additionally, the process of intestate succession is highly expensive and could be burdensome on a family that is already grieving the loss of a family member.
In some cases, a will may be challenged by an individual that believes they should have shared in the estate. There are various factors that are considered when determining whether a decedent drafted a valid will. For example, if the decedent was coerced into drafting a will by another person that wanted a share of the estate, this could be grounds to invalidate a will. There are other factors that may affect the validity of a will:
- The decedent was subject to undue influence (e.g., caretaker isolated decedent from family)
- A will was forged
- The decedent did not possess the proper mental state to draft a will (e.g., was confused about what property they owned)
While drafting a will can be a complex process, our firm is here to guide you through it. Wills are not exclusively for the uber-wealthy members of society; they can benefit any person that wishes to provide for their family before they pass away.
How Trusts Work in Rogers, AR
There are multiple trusts that can be established depending on the needs of the grantor and beneficiaries. The most common form of trust is the living trust. A living trust is an estate planning tool that permits the creator or grantor of the trust to transfer assets into the trust for future use by a beneficiary.
The manager of the trust depends on the wishes of the creator. For example, the creator of the trust could serve as the trustee, or the creator could allocate the responsibility to another individual or entity.
Additionally, the trust established by a creator can take the form of a revocable trust or an irrevocable trust. Revocable trusts permit the grantor of the trust to alter the terms of the trust. For example, a grantor can add or remove beneficiaries when utilizing a revocable trust. Alternatively, irrevocable trusts cannot be altered after they are established. This means if a grantor transfers property into the trust, they cannot remove the property from the trust at a later time.
If you are interested in establishing a will, trust, or using other estate planning tools, our firm is ready to work with you.
Contact an Experienced Rogers, AR Wills and Trust Attorney Today
If you or a family member require legal assistance to establish a will or trust, contact an experienced Rogers wills and trust attorney today. The committed legal team at Gunn Kieklak Dennis, LLP possess decades of combined legal experience, and we are ready to use this knowledge to help you plan your estate. To schedule a confidential consultation to discuss your case, contact Gunn Kieklak Dennis, LLP at (479) 439-9840. You can also contact the firm online.