Asset Protection is about protecting your assets from creditors, lawsuits, and predators.
The State’s Plan
If you choose not to write your own plan, the state of Arkansas has one written for you, generally:
- Anything not titled jointly goes 1/3 to the surviving spouse and 2/3 immediately to the children
- Your family must go through the public court process of probate or administration
- Your family must wait for access to money
- Your financial decisions will be made by a judge
- Your medical decisions will be made by doctors and judges
- Your family’s private information becomes public
Costly Problems Cause by the State’s Plan
Not to mention the costly problems you and your family face during life and after you are gone:
- Who will care for you in case of mental or physical incapacity?
- Who will manage your assets?
- Who will manage your affairs?
- Who will manage your healthcare?
- Will you family fight over decisions?
- Who will watch over your children?
- Who will inherit?
- Who will care for children with special needs?
- And many more…
from Protecting You And Your Family http://ift.tt/29WISWz
from DeWitt Law Firm, PLLC
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