Practice Area Overview
Estate Planning & Probate
J. Tyler Henderson is very well versed in Estate Planning and Probate Law. Our goal for every estate planning client we take on is for you to leave with an estate plan custom-tailored to your unique situation, needs, and desires.
A good estate plan helps the surviving family plan for and protect their assets. Avoid leaving a mess behind for your family to clean up by making your wishes as clear and easy to follow as possible.
Our estate planning practice is carefully customized to your individual needs. We try to be as thorough and comprehensive as possible in creating your estate plan. To accomplish this we use a variety of tools, including: Wills, Trusts, Power of Attorney, Medical Power of Attorney, Living Wills, and Beneficiary Deeds.
Wills
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Your Last Will and Testament directs the distribution of assets and can appoint a guardian for minor children. In Arkansas, estates that are valued at more than $100,000 often must go through the probate process.
Trusts
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There are two types of trust – revocable and irrevocable. Which type of trust you choose will depend entirely on your assets and circumstances. However, all trusts allow for the management and disposition of your property and assets both while you’re alive and after your death. A trust allows your property and assets to bypass the probate process.
Power of Attorney
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Power of Attorney is a legal document in which you appoint another person as your “agent” allowing them to act on your behalf in all legal matters, including healthcare decisions. You can institute a Power of Attorney immediately or upon your incapacitation.
What's the main benefit of estate planning?
The main benefit of estate planning is peace of mind for your loved ones. They don't have to worry about what will happen to your assets or how they will be divided - an estate plan lays all those wishes out and provides detailed instructions. And proper planning can save your family thousands of dollars in court-related expenses.
When should I start estate planning?
There is no one right answer to this question. But even a single 30-year old should have a will, healthcare proxy, and power of attorney in place in case of a serious illness or unexpected death - especially if you own your home instead of renting. It's never too soon to think about your family and make their lives easier in case of tragedy. It can feel morbid, but it's one of the most thoughtful things you can do for those who survive you.
What is included in an estate plan?
This will depend entirely on your state of affairs, your assets, and your wishes. But generally speaking, you should consider: A will, Guardianships (for any children) and Conservatorships (for incapacitated adults in your care), A trust (to help you move assets and avoid probate), A power of attorney, Burial instructions/wishes, and Healthcare directives on your wishes in case of terminal or incapacitating illness.
What happens if I don't have an estate plan when I die?
If you do not have an estate plan, the state will decide what to do with your assets. Usually, they will go to your "heirs at law." Often your estate will end up in probate which can be costly and result in your beneficiaries receiving nothing.
What Others Say
Frequent Questions
Estate planning and probate can be especially draining and confusing areas of law – especially when your loved one is trying to navigate them while grieving your loss. Understanding how estate planning can benefit your family may help you build a more secure future for them.
We get a lot of questions about probate and estate planning from our clients. Here are some of the most helpful ones. If your question is not answered here, contact us and we’ll do our best to help you answer it.
What's the main benefit of estate planning?
The main benefit of estate planning is peace of mind for your loved ones. They don't have to worry about what will happen to your assets or how they will be divided - an estate plan lays all those wishes out and provides detailed instructions. And proper planning can save your family thousands of dollars in court-related expenses.
When should I start estate planning?
There is no one right answer to this question. But even a single 30-year old should have a will, healthcare proxy, and power of attorney in place in case of a serious illness or unexpected death - especially if you own your home instead of renting. It's never too soon to think about your family and make their lives easier in case of tragedy. It can feel morbid, but it's one of the most thoughtful things you can do for those who survive you.
What is included in an estate plan?
This will depend entirely on your state of affairs, your assets, and your wishes. But generally speaking, you should consider: A will, Guardianships (for any children) and Conservatorships (for incapacitated adults in your care), A trust (to help you move assets and avoid probate), A power of attorney, Burial instructions/wishes, and Healthcare directives on your wishes in case of terminal or incapacitating illness.
What happens if I don't have an estate plan when I die?
If you do not have an estate plan, the state will decide what to do with your assets. Usually, they will go to your "heirs at law." Often your estate will end up in probate which can be costly and result in your beneficiaries receiving nothing.
You’re not alone. Ready to talk?
Schedule a Consultation
(501) 428-0346
700 S German Ln Suite 101, Conway, AR 72034
ask@thlaw.net