Who needs planning? Everyone needs some form of planning. At minimum, we believe everyone needs a Last Will & Testament, or a Living Trust and the associated documents, but it goes beyond that. Do you own life insurance, or are you contemplating purchasing some? This may require planning. Do you have a small business, where you want to have a set succession plan, or a buy-sell agreement? If so, you also need this to be working with your estate plan, not against your estate plan.
Some of our clients have tax issues. Most of the time we only consider “death taxes,” but we are in a time of rising exemption amounts, so we also look into our clients’ income tax that will be paid during the life of the grantor of the trust. This can sometimes produce bigger savings than worrying about death taxes.
Let one of our Arkansas Estate and Tax Planning Attorneys look at or review your current estate plan today, we can advise you on any planning you might need.