- When you leave your assets to your children are you confident that they will be divided according with your wishes and the state won’t try to interfere? If you don’t create your estate plan, the State of Arkansas has created a plan for you. It is in Title 28 and is well defined. Without a plan, your spouse gets 1/3rd and your children split the other 2/3rds of everything but real estate. For real estate, your children split the total subject to your spouse’s 1/3rd life estate.
- The State can rip your rights away and give them to a complete stranger with a guardianship. In the case you are endangering yourself, Adult Protective Services can ask a judge to become your guardian. You can prevent this with a Durable Power of Attorney.
- Wills don’t provide any protection for you. A Last Will and Testament is simply a list of gifts and instructions for others. If you want your assets and rights protected for yourself, you need to have more than a Last Will and Testament.
The post Three Facts You Wouldn’t Believe About Estate Planning Law appeared first on DeWitt Law Firm, PLLC.
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