Understanding Special Needs Trusts Video
An Understanding of special needs trusts is important for those people in your life that need protection. Special needs trusts help protect special people. Hi, I’m Gary DeWitt, Estate Planning Attorney in Northwest Arkansas. Understanding Special Needs Trusts: Major Types Special needs trusts come in many different types that fulfill different purposes. For your understanding, […]
What is the Difference Between Trustee and Guardian?
The difference between trustee and guardian is immense. It is like comparing apples and zebras. Guardian A guardian, in this context, is a person appointed by a court and Judge in a guardianship proceeding to make another person’s (the ward) legal, financial, and healthcare decisions. The guardian is then responsible for managing the ward’s financial, […]
Estate Planning Client Profile #142 – Married Couple With Minor Children
They are a couple with minor children. They want to provide for their children and make sure they provide their nominations for guardians if something should happen to them while their children are still minors. We created a trust based plan that included the following: Trust Pour Over Wills Financial and Legal Affairs Durable Powers […]
Checking Beneficiary Designations
Checking Beneficiary Designations: I’m sitting here on my birthday and am reminded of advice I give my clients. This advice is so important you should mark it on your calendar. On the day after your birthday, write an entry on your calendar to check your beneficiary designations, payable on death beneficiaries, and beneficiary deeds. There […]
Estate Planning Definition Video
Estate Planning Definition The part that people get right is that estate planning is about distributing your property to others. That definition misses many important things a plan also does. Estate planning also includes Nominating guardians for minor children Naming an executor Making healthcare choices now instead of making family guess later Naming somebody to […]
How Does Divorce Affect my Estate Plan? (Video)
How Does Divorce Affect my Estate Plan? I had a previous planning client come in after her divorce and ask if her plan needed an update because of her divorce. She had a Will and powers of attorney. My first answer was it depends on if your plan has language about divorce built into it. […]
What Happens When You Don’t Have a Will? (Video)
What happens if you don’t have a Will? If you don’t have a Will, your final estate is subject to what is called administration. It is much like Probate only who gets how much has already been determined by state law. Without a Will, the state, not you, decides who gets how much. When is […]
A Will and a Living Will are not the Same Thing (Video)
A Will and Living Will are not the same thing! Last Will and Testament – Property Your Will, or Last Will and Testament, expresses your wishes as to The disposition and distribution of your final estate (i.e. who gets what and how much) Who should raise your minor children Who should be in charge of […]
What Does Estate Planning do for Me and My Family?
The Best Way to Protect Your Family, Money, and Self Without Wasting Time and Money; Family Fights; Probate; Unnecessary Expenses; and Aggravation
Putting off Estate Planning (Video)
Putting off estate planning is one of the biggest estate planning mistakes people make. Transcript of Putting Off Estate Planning Video Hi, I’m Gary DeWitt. I own DeWitt Law Firm where I do estate planning and probate and do it well. We all feel like tomorrow will always come. But, what if? Talk to me, […]
