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Estate Planners of Arkansas
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Probate, Estate Tax, Wills
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FAQs
What do I transfer to the Living Trust?
You should transfer all your land, accounts, CDs, insurance, stocks, bonds, and all other personal property. Some retirement plans should not be transferred. It is probably best to allow your attorney to assist you.
What happens if I become incapacitated?
The court will step in and decide who will control your part of any property. Your will does not apply in this situation. It only takes effect after you die.
Is probate a private matter?
No. Every document, including the will and inventory, is public information. This is a popular way for unscrupulous people to learn who just inherited a lot of property.
Is probate expensive?
Generally, probate will cost between 5%-10% of your gross estate. The cost is spread between attorneys, executors/administrators, court cost, and appraisal fees. Below are some sample fees: Estate Size Cost $400,000 $20,000-$40,000 $800,000 $40,000-$80,000 $1 million $50,000-$100,000 $1.5 million $75,000-$150,000
Will a Living Trust avoid these problems with probate?
Yes. Because of the unique characteristics of a Living Trust, you will avoid the cost of probate and still control your property should you become incapacitated.
You'll find more information on the FAQ page of our website.
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