Main Article on Name/Gender Change
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Arkansas Trust Attorney
- Written by Administrator Administrator
- Last Updated: October 18, 2016 October 18, 2016
- Views: 13040 13040
Trusts are estate-planning tools that can replace or supplement wills, as well as help manage property during life.
A trust is a legal arrangement made during life or under the terms of a will by which a property owner (the trustor) transfers legal ownership to a person or an institution (the trustee) for the benefit of another person (the trust beneficiary). The trustee manages the property for the beneficiaries according to the trust agreement. The two principal types of trust are living trusts (inter vivos) and testamentary trusts. A living trust is one that you set up during your lifetime, while the testamentary trust is one created by your will and does not take effect until your death.
Since a trust allows the grantor to specify conditions for receipt of benefits, as well as to spread payment of benefits over a period of time instead of making a single gift, many people prefer to include a trust in their wills to reinforce their preferences and goals after death.
The testamentary trust is not automatically created at death but is commonly specified in a will and so as a will provision, the trust property must go through probate prior to commencement of the trust.
A living trust starts during the life of the trustor, but may be designed to continue after his or her death. This type of trust may help avoid probate if all assets subject to probate are transferred into the trust prior to death.
A living trust may be "revocable" or "irrevocable." The trustor of a revocable living trust can change or revoke the terms of the trust any time after the trust commences. The grantor of an irrevocable trust, on the other hand, permanently relinquishes the right to make changes after the trust is created. A revocable trust typically acts as a supplement to a will, or as a way to name a person to manage the grantor's affairs should he or she become incapacitated. Even a revocable living trust usually specifies that it is irrevocable at the death of the grantor.
Trusts avoid probate only if all or most of the deceased person's assets had been transferred to the trust while the person was alive. To allow for the possibility that some assets were not transferred, most revocable living trusts are accompanied by a "pour-over" will, which specifies that at death, all assets not owned by the trustee should be transferred to the trustee of the trust.
Why Should You Have a Trust?
- Protecting Property for Certain Beneficiaries
- Reducing or Eliminating Estate Taxes
- Managing Property upon Incapacity
- Avoiding Probate
- Avoiding a Will Contest
- Living trusts are private; they don’t get filed with the probate court
Trusts have important tax, governmental assistance, probate, and personal ramifications, so an experienced Arkansas Trust Attorney should be consulted at all stages of the process, from preliminary discussions to execution of trust documents.
At Lauro Law, PLLC we will use our knowledge of Arkansas Trust Law and our experience to answer your questions and assist you though the Trust process.
At Lauro Law, PLLC we take a special interest in every case and we will:
- Explain the entire Trust process and how we will facilitate that process
- Explain your rights and responsibilities
- Provide you with appropriate data and information gathering questionnaires
- Provide advice and guidance for methods of distributing your property and assets
- Provide drafts of the Trust to insure your satisfaction
- Prepare the final Trust and supporting documents (such as a Pour-over Will)
- Host the Trust signing
- Notarize the Trust and related documents
Lauro Law, PLLC also provides advice, Estate Planning services and representation in:
Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.
Arkansas Probate Attorney
- Written by Administrator Administrator
- Last Updated: October 18, 2016 October 18, 2016
- Views: 9643 9643
Probate is a legal process that takes place after someone dies. The probate process usually includes:
- Obtain a copy of the death certificate and the original will
- Validate the original will (with a signed and witnessed Proof of Will)
- Prepare and file the forms and documents needed to begin the probate
- Inventory the estate and submit to the court
- Publish notice of the probate of the estate in the local newspaper
- Pay the claims of the estate
- Submit a final accounting to the court and distribute the remaining assets to the beneficiaries
People usually want to avoid the probate process since it can be a long and expensive process. There are many ways to avoid probate, such as owning property jointly, payable on death (POD) accounts, life insurance policies with beneficiaries, moving all assets into a living trust, or giving the property away before death.
At Lauro Law, PLLC we will use our knowledge of Arkansas Probate Law and our experience to answer your questions and assist you though the Probate process.
At Lauro Law, PLLC we take a special interest in every case and we will:
- Explain the entire Probate process and how we will facilitate that process
- Explain the Personal Representatives duties and responsibilities
- Provide appropriate data and information gathering questionnaires
- Provide advice and guidance during the Probate process
- Drafts and submit all probate documents to the Court
- Assist the Representative with all their duties and responsibilities
- Prepare the final Probate and supporting documents
Lauro Law, PLLC also provides advice, Estate Planning services and representation in:
- Wills
- Trusts
- Estate Tax Planning
Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.
Arkansas Estate Tax Planning Attorney
- Written by Administrator Administrator
- Last Updated: October 18, 2016 October 18, 2016
- Views: 12080 12080
Estate Tax Planning is very important to preserving your wealth for future generations. Understanding your potential estate tax liability is a great place to start your estate tax plan.
American Taxpayer Relief Act of 2012
In January 2013, the President signed the A.T.R.A into law. For 2013, the estate exemption is $5,250,000 with a top federal estate tax rate of 40%. Amounts exceeding the exemption amount are taxed at a rate of 40%. The exemption amount is indexed for inflation for future years; however your exemption is reduced if you have used any gift exemption amount.
The new law, like the 2010 law that preceded it, allows an unused spousal exemption to be used by a surviving spouse. For example, if a married couple has an estate of $10 Million, and the first spouse uses $3 million of their exemption when they die, the second spouse is able to pass on $7,240,000 at the time of their death without incurring any estate tax (assuming an exemption of $5,250,000 per spouse).
Married couples never have to pay estate taxes on assets transferred to a surviving spouse. In addition, any assets transferred to a surviving spouse don't count against the estate tax exemption.
Large gifts distributed during your lifetime can reduce your estate tax exemption when you die. This can increase your estate tax bill. The tax code was designed this way to prevent wealthy individuals from giving away their entire estate before they die, thus escaping estate taxes. If you have never given a gift over $10,000, other than gifts to non-profit organizations or your spouse, then your used gift exemption amount is $0.
Strategies to Help Reduce Estate Taxes
If you're concerned about estate taxes, you can use a variety of strategies to help reduce your estate's tax bill, including:
- Credit shelter trust planning
- Transferring exclusion to your spouse - the "portability" election
- Annual gifting
- Life insurance
- Irrevocable life insurance trust
At Lauro Law, PLLC we will use our knowledge of Arkansas Estate Tax Law and our experience to answer your questions and assist you with this planning.
At Lauro Law, PLLC we take a special interest in every case and we will:
- Explain the Estate Tax Planning process and how we will facilitate that process
- Explain your rights and responsibilities
- Provide you with appropriate data and information gathering questionnaires
- Provide advice, guidance and reviews base on options available for your Estate Tax Plan
- Prepare the final Estate Tax Plan with supporting documents
Lauro Law, PLLC also provides advice, Estate Planning services and representation in:
Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to schedule a free initial consultation.
Arkansas Gender Change Attorney
- Written by Administrator Administrator
- Last Updated: May 16, 2021 May 16, 2021
- Views: 19669 19669
Gender Change is the process of legally changing your gender from the gender identified at birth once you have begun or completed the medical gender transition process. A legal gender change through a court order is an important step in the gender change process, and may be necessary for some transgender people.
A person may need to officially register a gender change court order with the appropriate authorities. This process includes notifying various government agencies, each of which may require medical and legal proof of the gender change and may charge a fee.
Important government agencies to be notified include the Social Security Administration, Bureau of Consular Affairs (for passports), the United States Postal Service, and the Department of Motor Vehicles (for a new driver's license or state identification card).
The Social Security Administration and the U.S. State Department do not currently require court order proof in order to update gender markers on Social Security records and U.S. Passports.
Some states, such as California, also do not require gender change court orders in order to update a California birth certificate.
Arkansas law currently requires "surgical procedure" in order to change the gender marker on Arkansas birth certificates.
If you were born in another state but currently live in Arkansas, whether you need a gender change court order depends on the requirements of your birth state. If you were born in Arkansas but currently live in another state, you will need to obtain a gender change court order from an Arkansas court or from a court in the state in which you live.
If you have begun or completed your gender transition, Lauro Law is here to help you through the legal process.
Lauro Law is one of the premier Arkansas Gender Change law firms. We have extensive experience successfully assisting clients through this process.
We will:
- Explain the entire Gender Change process and how we will facilitate that process
- Explain your rights and responsibilities
- Provide you with appropriate data and information gathering questionnaires
- Create and electronically file the appropriate court documents
- Obtain the necessary certified copies of the order
- Provide you with an Individualized Detailed Roadmap for getting all your identity documents changed
- And assist you if you need help with having these documents updated.
This is one of the most requested legal services we provide for clients. If you are considering legally changing your gender we are here to help you through the process. For information about the process we use, court filings requirements and identity documents that need to be changed, please browse through our Library.
Lauro Law also assists the LGBT community with Name Changes. Select Court Filings for the Name Change process in Arkansas.
Select Identity Documents for a list and description of these documents.
Contact Lauro Law, PLLC by calling 501-613-6529 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. for more information.
Older Information:
November 2016 - FAQ on Name and Gender Changes for Transgender People Post-Election (by NCLRights.org)
