Estate Planning and Probate Attorneys in Springdale, Arkansas

Advanced Directives  

Advanced Directives are documents that allow you to take charge of your treatment decisions when you fall critically ill. Preparing the documents in advance communicate your wishes to family members and healthcare professionals. They help to clear any confusion that may arise among the parties when you are unable to speak for yourself.

Examples of advance directives include:

Living Wills: They specify the types of treatments you want to relieve when you are terminally ill or in a coma. They include guidelines on whether to accept organ transplants, resuscitation, and life-support machines.

Medical Power of Attorney: In this case, you are entrusting someone else to make important decisions about your health and treatment. It can only take effect when your doctor certifies that you are unable to make your own decisions. 

Trusts

The main reason behind trusts is to eliminate future conflicts, when you pass away, for instance. They create a legal entity to manage your assets. Generally, a trust consists of three parties:

-The person who sets up the trust is called the grantor

-The trustee is the person who manages the trust. 

-The beneficiary is the person enlisted to benefit from the trust. 

A living trust is designed to prevent cases where you pass away without living a will. If you change your mind on who is going to manage your assets, you can always go back and amend the document. Under the estate planning and probate laws of Arkansas, you can also set up a trust for life insurance, minors, and charities. 

Wills

Also called a last testament, a will can help to protect your loved ones from a long and expensive court process when you die. Generally, it spells out how you intend to distribute your property among your close relatives. The statements made in a will are legally binding. As you prepare your will, is always wise to consult a lawyer, to ensure conformance to the Arkansan Laws. 

At  Roy, Lambert, Lovelace, Bingaman & Wood Law, our primary goal is to help you with all your estate planning. We also provide insurance defense, arbitration, and mediation services.