Arkansas Will Attorney

A Will is a legal declaration of the manner in which a person (testator or testatrix) wishes to distribute his or her estate after death.  It contains written directions to control the disposition of property at death. The will becomes effective at the time of death.
Each state sets formal requirements for wills and the will must be prepared and executed in accordance with laws governing wills.  According to Arkansas law the maker must be 18 years of age or older, of sound mind and the will must be in writing signed by the maker.  If the will is typed, it must be witnessed by at least two people, 18 years of age or older and of sound mind.  The witnesses cannot inherit anything from the will.

Why Should You Have a Will?

• Even if you do not have much property or money, you may have special items or money you would like to pass on to your loved ones or charities.
• It may help to avoid family disagreements over who should get what.
• It allows you to give your things to whom you want and does not leave that decision to a judge.
• If you have children, it is helpful to a judge or your family to know whom you want to have custody of your children. While the court makes the final decision, you can make your wishes known through a will.
• If you want to identify where your property is located, you need a will.

If you are considering a creating a will or changing and existing will, it would be in your best interest to discuss your situation with an experienced Arkansas Estate Planning attorney.

At Lauro Law, PLLC we will use our knowledge of Arkansas Law and our experience to answer your questions and assist you though the Will process.

At Lauro Law, PLLC we take a special interest in every case and we will:

• Explain the entire Will process and how we will facilitate that process
• Explain your rights and responsibilities
• Provide you with appropriate data and information gathering questionnaires
• Provide advice and guidance for methods of distributing your property and assets
• Provide drafts of the Will to insure your satisfaction
• Assist you in obtaining the witnesses, if necessary
• Prepare the final Will and supporting documents
• Host the Will signing
• Notarize the Will and prepare a Proof of Will

Lauro Law, PLLC also provides advice, Estate Planning services and representation in:

• Trusts and Pour-over Wills
• Estate Tax Planning
• Probate

Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.

Arkansas Trust Attorney

Trusts are estate-planning tools that can replace or supplement wills, as well as help manage property during life.
A trust is a legal arrangement made during life or under the terms of a will by which a property owner (the trustor) transfers legal ownership to a person or an institution (the trustee) for the benefit of another person (the trust beneficiary). The trustee manages the property for the beneficiaries according to the trust agreement. The two principal types of trust are living trusts (inter vivos) and testamentary trusts. A living trust is one that you set up during your lifetime, while the testamentary trust is one created by your will and does not take effect until your death.

Since a trust allows the grantor to specify conditions for receipt of benefits, as well as to spread payment of benefits over a period of time instead of making a single gift, many people prefer to include a trust in their wills to reinforce their preferences and goals after death.

The  testamentary trust is not automatically created at death but is commonly specified in a will and so as a will provision, the trust property must go through probate prior to commencement of the trust.

A living trust starts during the life of the trustor, but may be designed to continue after his or her death. This type of trust may help avoid probate if all assets subject to probate are transferred into the trust prior to death.

A living trust may be "revocable" or "irrevocable." The trustor of a revocable living trust can change or revoke the terms of the trust any time after the trust commences. The grantor of an irrevocable trust, on the other hand, permanently relinquishes the right to make changes after the trust is created. A revocable trust typically acts as a supplement to a will, or as a way to name a person to manage the grantor's affairs should he or she become incapacitated. Even a revocable living trust usually specifies that it is irrevocable at the death of the grantor.

Trusts avoid probate only if all or most of the deceased person's assets had been transferred to the trust while the person was alive. To allow for the possibility that some assets were not transferred, most revocable living trusts are accompanied by a "pour-over" will, which specifies that at death, all assets not owned by the trustee should be transferred to the trustee of the trust.

Why Should You Have a Trust? 

• Protecting Property for Certain Beneficiaries
• Reducing or Eliminating Estate Taxes
• Managing Property upon Incapacity
• Avoiding Probate
• Avoiding a Will Contest
• Living trusts are private; they don’t get filed with the probate court

Trusts have important tax, governmental assistance, probate, and personal ramifications, so an experienced Arkansas Trust Attorney should be consulted at all stages of the process,  from preliminary discussions to execution of trust documents.

At Lauro Law, PLLC we will use our knowledge of Arkansas Trust Law and our experience to answer your questions and assist you though the Trust process.

At Lauro Law, PLLC we take a special interest in every case and we will:

• Explain the entire Trust process and how we will facilitate that process
• Explain your rights and responsibilities
• Provide you with appropriate data and information gathering questionnaires
• Provide advice and guidance for methods of distributing your property and assets
• Provide drafts of the Trust to insure your satisfaction
• Prepare the final Trust and supporting documents (such as a Pour-over Will)
• Host the Trust signing
• Notarize the Trust and related documents

Lauro Law, PLLC also provides advice, Estate Planning services and representation in:

• Wills
• Estate Tax Planning
• Probate

Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.

Arkansas Probate Attorney

Probate is a legal process that takes place after someone dies. The probate process usually includes:

• Obtain a copy of the death certificate and the original will
• Validate the original will (with a signed and witnessed Proof of Will)
• Prepare and file the forms and documents needed to begin the probate
• Inventory the estate and submit to the court
• Publish notice of the probate of the estate in the local newspaper
• Pay the claims of the estate
• Submit a final accounting to the court and distribute the remaining assets to the beneficiaries

People usually want to avoid the probate process since it can be a long and expensive process. There are many ways to avoid probate, such as owning property jointly, payable on death (POD) accounts, life insurance policies with beneficiaries, moving all assets into a living trust, or giving the property away before death.

At Lauro Law, PLLC we will use our knowledge of Arkansas Probate Law and our experience to answer your questions and assist you though the Probate process.

At Lauro Law, PLLC we take a special interest in every case and we will:

• Explain the entire Probate process and how we will facilitate that process
• Explain the Personal Representatives duties and responsibilities
• Provide appropriate data and information gathering questionnaires
• Provide advice and guidance during the Probate process
• Drafts and submit all probate documents to the Court
• Assist the Representative with all their duties and responsibilities
• Prepare the final Probate and supporting documents

Lauro Law, PLLC also provides advice, Estate Planning services and representation in:

• Wills
• Trusts
• Estate Tax Planning

Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.

Arkansas Estate Tax Planning Attorney

Estate Tax Planning is very important to preserving your wealth for future generations. Understanding your potential estate tax liability is a great place to start your estate tax plan.

American Taxpayer Relief Act of 2012

In January 2013, the President signed the A.T.R.A into law. For 2013, the estate exemption is $5,250,000 with a top federal estate tax rate of 40%.  Amounts exceeding the exemption amount are taxed at a rate of 40%. The exemption amount is indexed for inflation for future years; however your exemption is reduced if you have used any gift exemption amount.

The new law, like the 2010 law that preceded it, allows an unused spousal exemption to be used by a surviving spouse.  For example, if a married couple has an estate of $10 Million, and the first spouse uses $3 million of their exemption when they die, the second spouse is able to pass on $7,240,000 at the time of their death without incurring any estate tax (assuming an exemption of $5,250,000 per spouse).

Married couples never have to pay estate taxes on assets transferred to a surviving spouse. In addition, any assets transferred to a surviving spouse don't count against the estate tax exemption.

Large gifts distributed during your lifetime can reduce your estate tax exemption when you die. This can increase your estate tax bill. The tax code was designed this way to prevent wealthy individuals from giving away their entire estate before they die, thus escaping estate taxes. If you have never given a gift over $10,000, other than gifts to non-profit organizations or your spouse, then your used gift exemption amount is $0.

Strategies to Help Reduce Estate Taxes

If you're concerned about estate taxes, you can use a variety of strategies to help reduce your estate's tax bill, including:

• Credit shelter trust planning
• Transferring exclusion to your spouse - the "portability" election
• Annual gifting
• Life insurance
• Irrevocable life insurance trust

At Lauro Law, PLLC we will use our knowledge of Arkansas Estate Tax Law and our experience to answer your questions and assist you with this planning.

At Lauro Law, PLLC we take a special interest in every case and we will:

• Explain the Estate Tax Planning process and how we will facilitate that process
• Explain your rights and responsibilities
• Provide you with appropriate data and information gathering questionnaires
• Provide advice, guidance and reviews base on options available for your Estate Tax Plan
• Prepare the final Estate Tax Plan with supporting documents

Lauro Law, PLLC also provides advice, Estate Planning services and representation in:

• Wills
• Trusts
• Probate

Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.