Everyone has an estate of some kind. When you die, unless you have a revocable living trust, your estate and all of its assets go through probate court, wherein they are distributed to your heirs. Assets that may be subject to distribution during the probate process may include bank accounts, real estate property, physical assets, motor vehicles, and personal valuables.

Additionally, estate plans can provide a certain level of incapacity planning, making things easier for our family members when we are left incapacitated due to serious illnesses or injuries. Without an estate plan and the proper documents in place, your family members may be left scrambling to figure out what to do and what your wishes for health care would be.

Although we recommend estate plans for everyone over the age of 18 in Arkansas, certain individuals would benefit even more from having an estate plan. Young parents worried about guardianship of their children, farmers and  business owners, those with investments in businesses, families with children who have special needs or special education needs, and those with large estates would particularly benefit from the creation of an estate plan.

While there are many do-it-yourself websites available now that provide interested parties the chance to create their own estate plans online, we do not recommend these services. The do-it-yourself websites do not provide the planning options that provide the greatest protection to your heirs. Estate plans are not a one-size-fits-all legal issue. We recommend consulting with a lawyer who went to law school for estate law, elder law, and other related practice areas. Contact our law firm to discuss your estate planning needs today.