"Helping People Use the Law..to Resolve Critical Life Conflicts"
What's new?

  • Arkansas Trust Code- (Act 1031 of 2005)        

  •        The newly enacted Arkansas Trust Code (ATR) became
    effective on September 1, 2005.

  •        With few exceptions, the provisions of the ATR apply to
    all revocable and irrevocable living trusts and testamentary
    trusts as of the stated effective date.

  •        Trustees may now be required to provide "qualified
    beneficiaries" copies of the trust document, as well as
    annual financial reports.

  •        Recommended Action:  All existing living trusts and
    prospective testamentary trust should be reviewed to
    insure compliance with the provisions of the ATR.

  • Avoid Probate-Value of Assets - (Act 899 of 2005)

  •        Estates with a value of not more than $100,000 may
    avoid the probate process and qualify as a small estate.

  • Avoid Probate-Real Estate-Beneficiary Deed -
    (Act 1918 of 2005)

  •        A Beneficiary Deed conveys an interest in real property
    to a designated grantee beneficiary effective upon the
    death of the grantor (owner) subject to any debt secured by
    a lien on the real property and other interests specifically
    set forth in Act 1918 of 2005.

  •        A Beneficiary Deed is not effective until the death of
    the grantee (owner), and then only if it has been previously
    recorded and no revocation by the grantor has been
    recorded.    

  • Who Died First? - Simultaneous Death - (Act 74 of
    2005)

  •        An individual who is not established by clear and
    convincing evidence to have survived another individual
    by at least 120 hours is deemed to have predeceased the
    other individual.
Benefits of a Living Trust:

A.     Avoiding probate
B.     Preserving privacy
C.     Professionally managing your
property
D.     Handling of out-of-state real
estate
E.     Avoiding guardianships
F.     Avoiding will contests
G.     Avoiding family disputes
H.     Designating trustees and
successors
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"WHAT YOU SHOULD KNOW
ABOUT ESTATE PLANNING
WITH A  LIVING TRUST"
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Services & Referrals Provided in the General
Areas of:

  •  Bankruptcy
  •  Business Formation
  •  Corporations
  •  Limited Liability Companies
  •  Limited Partnerships
  •  General Partnerships

  •  Contracts
  •  Domestic Relations
  •  Adoption
  •  Child Custody
  •  Divorce

  •  Elder Law
  •  Guardianships
  •  Conservatorships

  •  Estate Planning
  •  Last Will & Testament
  •  Living Trusts
  •  Testamentary Trusts
  •  Powers of Attorney
  •  Living Wills

  •  Probate Administration
  •  Real Estate Transactions
  •  Deeds
  •  Mortgages
  •  Promissory Notes
  •  Foreclosures
  •  Boundary Line Disputes - Quiet Title Actions

  •  Securities
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Thomas S. Russell - Attorney at Law
 

THOMAS S. RUSSELL, ESQ.
9011 Reservoir Court
Little Rock, Arkansas 72227-5701
Phone:  (501) 225-9011
sirthomas@arkansaslawyer.biz