Consult With a Probate Lawyer in Springdale, AR

In general, trusts allow you to control your wealth, protect your legacy, and maintain better privacy. Assets in a trust could pass outside of probate, potentially reduce your estate taxes, and save your family time and money.

There are two types of trusts, revocable and irrevocable.

Revocable trusts, also known as a living trust, helps assets pass outside of probate, while allowing you to retain control of the assets during your lifetime. It is flexible and can be dissolved at any time. Revocable trusts are usually subject to estate taxes and will become irrevocable upon your death.

Irrevocable trusts transfer assets out of your estate (and sometimes out of reach of estate taxes and probate), but cannot be altered by the grantor after it has been executed. Once you establish this type of trust, you will lose control over the assets and cannot change any terms or decide to dissolve the trust.

If you’re not sure what type of trust is best for your situation, contact Brady Law today to schedule a free consultation with our lawyer.

Probate law governs how your property is distributed among your heirs and beneficiaries. Wills and estates fall under the umbrella of probate law. Some assets may or may not be considered part of your estate, depending on your state’s probate laws.

With all of the laws, regulations, and taxes surrounding the probate system, it’s no surprise that the entire process can seem daunting. If you do not make a plan for the future of your assets through a will, trust, or other testamentary document, then the court will decide who gets your property, without your say in the matter.

A probate lawyer knows the ins and outs of estate planning and probate law, and can help you make the best decisions for the disposition of your assets. Our probate lawyer is well-versed in Arkansas probate law, and can help guide you in making the most practical plan for the future of both you and your family.