It is certainly true that many individuals and families across Arkansas feel that their estate planning goals are effectively promoted through the creation (and periodic updating) of a will.
And it is just as true that many people complement their planning strategies through the targeted selection of trusts, which can often work together with wills to advance a seamless and tightly effective estate outcome.
The impressive flexibility of trusts is often underappreciated by many people, who come to appreciate their broad utility through a candid conversation with a trust-savvy estate administration attorney.
We note on our family law and estate planning website at the Little Rock law firm of Robertson, Oswalt, Nony & Associates the impressive reach and applicability that trust creation can have in advancing important goals for many Arkansas residents. That potential usefulness makes it worthwhile in most cases for planners to consider trust employment to safeguard their interests and protect family members in the future.
A recent article responds to a reader’s query as to whether more than one trust can be created in an estate plan. The short and sure answer to that question is that, indeed, multiple trusts can feature in a given plan. As the columnist in that piece notes, situations certainly exist “where having two separate and distinctive trusts makes sense.”
The particulars will vary from case to case, of course, with proven legal counsel being able to advise on whether one or multiple trusts will optimally promote key planning goals.