Simple And Complex Wills
The last will and testament is a basic building block for any estate plan. Your decision on a simple or complex will hinges on how you want your assets and property distributed, the size of your estate, estate taxation projections and the existence of a trust.
Is this decision more difficult than you expected? Are you having trouble settling on an executor, beneficiaries or a guardian for minor children? Have you decided that this responsibility is too much for you after all?
In Little Rock, the knowledgeable legal professional who should be making a will for you, be it simple or complex, is attorney Amy Clemmons Brown of the McMullan & Brown law firm.
Amy possesses decades of experience with helping individuals and families to map their futures with a variety of estate planning features — some of which are actually improvements on wills. Her personalized approach ensures that your estate documents reflect your explicit wishes and is tailored to address your family’s specific situation. She also excels at estate administration after your loved one’s passing, whether or not a will exists.
Proactive Estate Planning Guidance That Benefits Arkansas Families
A simple will may suffice for those younger than 50, whose assets are few and who have no children. The simple will also anticipates no legal challenges or will contests on grounds of fraud, incompetency or undue influence.
The complex will would be in order for those with significant assets that could be taxed; parents of a special needs child; those pursuing a trust for disbursements of funds to a child at a certain age; business owners who are expecting more assets; married persons with previous spouses or who are considering a joint will with a current spouse.
During your initial consultation at our McMullan & Brown law office, you may want to discuss with Amy the pros and cons of a complex will with a “pour-over” trust. This trust transfers assets after death and distributes them according to instructions in a living trust.
The bottom line is, you have rights and options — and exercising them should be a time of great hope and optimism for you. Those closest to you will be grateful for the time and effort you invested in this responsibility. However our law firm can help, we are glad to.