A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his or her estate and provides for the distribution of his or her property at death. This is a very important legal document and serves as the foundation of every good estate plan. Your last will and testament provides all the details of who will inherit your property, when they will inherit it, how they will inherit it, and who will be in charge of settling your estate. If you have minor children, your last will and testament will also designate who will serve as the Guardian for your minor children until they reach adulthood. The Smith Firm has extensive experience in representing clients to ensure their loved ones are cared for and protected and will develop a comprehensive plan that suits the individual needs of your family.
No. In Arkansas you can write your own will. Consulting a lawyer is always a good idea to make sure it follows current state law.
Yes, Arkansas recognizes handwritten, also known as holographic, wills. Handwritten will do not have to be witnessed so long as they are entirely in the handwriting of and signed by the creator of the will.
Yes, at least two witnesses must sign a will in Arkansas for it to be valid. The witnesses must sign after the testator has done so. However, if the will is a handwritten will, also known as a holographic will, witnesses are not necessary as long as the entire will is written and signed in the creator’s original handwriting.
A will goes into effect only after you die. A trust goes into effect as soon as you create it and can begin to distribute property before, as soon as, or after you die. In a trust a person or institution, called a trustee, holds legal title to the property of the beneficiary or trustee. A will only covers property that is in your name when you die. A will passes through probate, a trust does not. These are only a few of the differences between wills and trusts. For more information contact the Smith Law Firm.
