Main Line: 479.443.2705
Fax Line: 479.443.2718
Email: info@rmp.law
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
Main Line: 479.443.2705
Fax Line: 479.443.2718
Email: info@rmp.law
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
On Tuesday, the Federal Trade Commission issued a new Rule putting an end to employment-related non-compete clauses. In its justification for the rule, the FTC called non-compete clauses “an unfair method of competition” and stated it is a “violation for [employers] to… enter into non-compete clauses (“non-competes”) with workers.” In today’s very competitive labor market, the new FTC Rule creates a significant disruption for employers.
This new FTC provision—set to take effect in 120 days—renders existing non-compete agreements unenforceable. Existing non-compete agreements with senior executives will remain enforceable, although employers cannot require newly hired senior executives to sign such an agreement.
After the Rule takes effect, employers are required to deliver personal notice to employees (past and present) who signed a non-compete agreement informing them agreements are no longer enforceable. In the notice, employers must inform employees they are free to accept any job or start any business, even if it is directly competitive with the employer.
Compliance with the FTC Rule is not optional. Employers should consider new ways they can protect against a former employee gaining a competitive advantage by using the employer- provided training, the relationships made possible by the employer, or the confidential information learned from the employer. RMP can assist you in navigating this disruption and can provide advice on how to most effectively protect your vital business interests going forward.
RMP Attorneys At Law has an experienced Employment Law Attorney team dedicated to helping you navigate these changes. If you have any questions or would like guidance, reach out to one of our employment attorneys, Tim Hutchinson, Seth Haines, Larry McCredy, or Taylor Baltz or call 479.443.2705.
For many Arkansas families, a home, a farm, or even a piece of raw land can be one of the most valuable assets they own. It may also be the asset most likely to create delays or disagreements after the owner's death.
An Arkansas beneficiary deed can allow real estate to pass to a named beneficiary without going through probate. It can be a useful estate planning tool because the owner keeps control of the property during life while arranging for a transfer that is automatically effected at death.
However, a beneficiary deed is not a substitute for a complete estate plan, though it may be part of one. It must be prepared and recorded correctly, coordinated with other documents comprising the estate plan, and reviewed frequently, particularly when family or financial circumstances change.
A beneficiary deed is a type of deed that names one or more people or entities to receive real estate when the current owner dies. It is sometimes described as a transfer-on-death deed.
Unlike a traditional deed, a beneficiary deed does not give the named beneficiary a present ownership interest. The transfer takes effect only at the owner's death, assuming the deed is properly filed, remains valid and has not been revoked.
During life, the owner generally retains the ability to:
This retained control is one reason beneficiary deeds appeal to property owners who want to simplify a later transfer without adding another person to the title during life.
Probate is generally required when a person dies owning property in his or her individual name, alone, and without a valid beneficiary designation. A will states who should receive property, but the will itself does not immediately effect a transfer or vest ownership in the heir upon the testator’s death. Instead, a will should be viewed as instructions to the probate court. Generally, the will must first be admitted to the probate court, and the court will then appoint a personal representative, oversee the administration of the estate, including satisfaction of estate obligations, and ultimately authorize distribution.
A valid beneficiary deed allows the property to pass outside of probate. At the owner's death, the named beneficiary may provide evidence of the owner’s death and update the property records without having the real estate pass through a full probate administration.
Avoiding probate for one property does not necessarily mean the entire estate will avoid probate. Other assets owned individually and without valid beneficiary designations may still require court administration.
Arkansas beneficiary deeds are governed by state law, specifically Arkansas Code Annotated Section 18-12-608. In general, the deed should:
Recording is critical. A beneficiary deed that is signed but left in a desk, safe, or estate planning binder will not accomplish the intended transfer if it was not recorded before death.
Property descriptions also matter. A street address alone is likely not sufficient. Errors in the legal description, the owner's name, or the manner in which multiple beneficiaries will take title can create uncertainty and title problems later.
No. The named beneficiary does not acquire a present ownership interest merely because he or she is named in the beneficiary deed.
Being the named beneficiary in a beneficiary deed is different from adding an adult child or another person as a current co-owner. Adding someone to the title now may create immediate rights in that person, expose the property to that person's creditors, complicate a later sale or refinance, and have gift or other tax consequences.
With a beneficiary deed, the owner retains control during life. The beneficiary's interest arises only at death if the owner still owns the property at death and has not revoked the beneficiary deed.
Yes. An owner may revoke a beneficiary deed during life, provided the revocation is properly executed and recorded before the owner's death.
Simply destroying a copy of the beneficiary deed or writing a new instruction in a will is not enough. The public real estate records must accurately reflect the owner's current plan.
Alternatively, a new beneficiary deed may be signed and filed by the owner. When more than one beneficiary deed has been recorded for the same property, Arkansas law generally gives effect to the beneficiary deed that was last signed, regardless of the order in which the deeds were recorded. Because inconsistent documents can lead to disputes, every change should be carefully carried out and coordinated with the rest of the estate plan.
A valid beneficiary deed generally controls the transfer of the real estate it covers, even if the owner's will contains a different instruction for that property.
For example, a will might leave all property equally to three children, while a previously recorded beneficiary deed names only one child to receive the family home. The beneficiary deed will generally control, but this inconsistency can surprise family members and may lead to conflict.
Estate planning documents should be reviewed together. Wills, trusts, deeds, business agreements, and account beneficiary designations should support the same overall plan rather than produce competing instructions.
Not every dispute involving the administration of an estate happens in probate court. If assets were An Arkansas beneficiary deed may name multiple beneficiaries and may also address successor beneficiaries. However, leaving one property to several people outright can create practical problems.
New co-owners may disagree about:
Naming several beneficiaries in a beneficiary deed can avoid probate, but the result is the creation of a long-term shared ownership that no one is prepared to manage. Other strategies, such as atrust, a business entity, a buyout plan, or a different distribution strategy altogether, may be more appropriate when family land or income-producing property is involved.
A beneficiary deed transfers the owner's interest in the property, but it does not generally eliminate a mortgage, tax obligation, judgment lien, easement, restriction, or other title issue attached to the property.
The beneficiary may receive property that is subject to:
Property owners should consider both the value of the real estate and the obligations connected to it when determining how to address the property in their estate plan. A beneficiary who cannot afford the mortgage, insurance, taxes, or maintenance may need to sell the property soon after the transfer.
Beneficiary deeds are often relatively cost effective ways to accomplish common estate planning goals. A beneficiary deed may be worth considering when:
The simplicity of the tool can be valuable, but only when the underlying plan is also simple.
A beneficiary deed may not be the best way to address real property when:
In these situations, a trust or more complex estate plan may offer protections and instructions that a beneficiary deed alone cannot provide.
Arkansas families often use beneficiary deeds for their homes as well as farmland, timberland, hunting property, mineral interests, and land that has remained in the family for generations. These transfers require special care.
Family property may involve old deeds, incomplete prior estates, unclear boundaries, multiple parcels, agricultural leases, mineral rights, or undocumented arrangements with relatives. Naming multiple beneficiaries may further divide ownership and make future management more difficult.
Before using a beneficiary deed for family land, owners should carefully consider practical consequences, such as who will manage the property, how expenses will be paid, whether income will be distributed, whether a beneficiary may sell an interest, and how disagreements will be resolved. Answering these questions will help determine whether a beneficiary deed is a goof fit.
Avoiding probate is useful, but it should not be the only goal. Preserving the property and reducing conflict may require a more detailed succession plan.
If you are an heir or beneficiary and believe something is wrong, it is important to act carefully.Common mistakes include:
A deed that appears simple can create years of title or family problems if it does not match the owner's circumstances.
No. Adding someone as a current owner generally gives that person an immediate property interest. A beneficiary deed is designed to transfer the property only after the owner's death.
Yes. Recording the deed in the county where the property is located before the owner's death is essential to the effectiveness of the beneficiary deed.
Usually, yes. A beneficiary deed addresses only the real estate described in that deed. A will can address other probate assets, allow you to name a personal representative, and form part of a broader estate plan.
The beneficiary may be able to sell after establishing ownership and satisfying the requirements of the title company, but mortgages, liens, title defects, creditor issues, or disputes may delay a sale.
Arkansas law allows flexibility in naming a beneficiary, and a properly structured trust may be part of the plan. The trust and deed should be drafted and coordinated carefully.
No. It works best when the intended transfer is straightforward. Complex family relationships, minor beneficiaries, special needs beneficiaries, business property, tax concerns, or shared family land may call for a different approach.
An Arkansas beneficiary deed can be an efficient way to transfer real estate outside probate, but the deed should be part of a coordinated estate plan. The current title, legal description, beneficiary choices, debts, taxes, and long-term goals should all be reviewed before the document is recorded.
RMP Law helps Arkansas property owners and families with beneficiary deeds as well as wills, trusts, probate, real estate matters, and business succession planning. Our attorneys serve clients throughout Arkansas, including Little Rock, Bentonville, Springdale, Fayetteville, Jonesboro, and surrounding communities.
If you have questions about transferring Arkansas real estate or whether a beneficiary deed fits your estate plan, contact RMP Law at 479-443-2705 or use our Message Us form.
Main RMP Number: 479-443-2705
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
DISCLAIMER: The information provided on this website does not constitute legal advice. Instead, all information, content, and materials available on this site are for general informational purposes. Information on this website may not constitute the most up-to-date legal or other information. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.
For many Arkansas families, a home, a farm, or even a piece of raw land can be one of the most valuable assets they own. It may also be the asset most likely to create delays or disagreements after the owner's death.
An Arkansas beneficiary deed can allow real estate to pass to a named beneficiary without going through probate. It can be a useful estate planning tool because the owner keeps control of the property during life while arranging for a transfer that is automatically effected at death.
However, a beneficiary deed is not a substitute for a complete estate plan, though it may be part of one. It must be prepared and recorded correctly, coordinated with other documents comprising the estate plan, and reviewed frequently, particularly when family or financial circumstances change.
A beneficiary deed is a type of deed that names one or more people or entities to receive real estate when the current owner dies. It is sometimes described as a transfer-on-death deed.
Unlike a traditional deed, a beneficiary deed does not give the named beneficiary a present ownership interest. The transfer takes effect only at the owner's death, assuming the deed is properly filed, remains valid and has not been revoked.
During life, the owner generally retains the ability to:
This retained control is one reason beneficiary deeds appeal to property owners who want to simplify a later transfer without adding another person to the title during life.
Probate is generally required when a person dies owning property in his or her individual name, alone, and without a valid beneficiary designation. A will states who should receive property, but the will itself does not immediately effect a transfer or vest ownership in the heir upon the testator’s death. Instead, a will should be viewed as instructions to the probate court. Generally, the will must first be admitted to the probate court, and the court will then appoint a personal representative, oversee the administration of the estate, including satisfaction of estate obligations, and ultimately authorize distribution.
A valid beneficiary deed allows the property to pass outside of probate. At the owner's death, the named beneficiary may provide evidence of the owner’s death and update the property records without having the real estate pass through a full probate administration.
Avoiding probate for one property does not necessarily mean the entire estate will avoid probate. Other assets owned individually and without valid beneficiary designations may still require court administration.
Arkansas beneficiary deeds are governed by state law, specifically Arkansas Code Annotated Section 18-12-608. In general, the deed should:
Recording is critical. A beneficiary deed that is signed but left in a desk, safe, or estate planning binder will not accomplish the intended transfer if it was not recorded before death.
Property descriptions also matter. A street address alone is likely not sufficient. Errors in the legal description, the owner's name, or the manner in which multiple beneficiaries will take title can create uncertainty and title problems later.
No. The named beneficiary does not acquire a present ownership interest merely because he or she is named in the beneficiary deed.
Being the named beneficiary in a beneficiary deed is different from adding an adult child or another person as a current co-owner. Adding someone to the title now may create immediate rights in that person, expose the property to that person's creditors, complicate a later sale or refinance, and have gift or other tax consequences.
With a beneficiary deed, the owner retains control during life. The beneficiary's interest arises only at death if the owner still owns the property at death and has not revoked the beneficiary deed.
Yes. An owner may revoke a beneficiary deed during life, provided the revocation is properly executed and recorded before the owner's death.
Simply destroying a copy of the beneficiary deed or writing a new instruction in a will is not enough. The public real estate records must accurately reflect the owner's current plan.
Alternatively, a new beneficiary deed may be signed and filed by the owner. When more than one beneficiary deed has been recorded for the same property, Arkansas law generally gives effect to the beneficiary deed that was last signed, regardless of the order in which the deeds were recorded. Because inconsistent documents can lead to disputes, every change should be carefully carried out and coordinated with the rest of the estate plan.
A valid beneficiary deed generally controls the transfer of the real estate it covers, even if the owner's will contains a different instruction for that property.
For example, a will might leave all property equally to three children, while a previously recorded beneficiary deed names only one child to receive the family home. The beneficiary deed will generally control, but this inconsistency can surprise family members and may lead to conflict.
Estate planning documents should be reviewed together. Wills, trusts, deeds, business agreements, and account beneficiary designations should support the same overall plan rather than produce competing instructions.
Not every dispute involving the administration of an estate happens in probate court. If assets were An Arkansas beneficiary deed may name multiple beneficiaries and may also address successor beneficiaries. However, leaving one property to several people outright can create practical problems.
New co-owners may disagree about:
Naming several beneficiaries in a beneficiary deed can avoid probate, but the result is the creation of a long-term shared ownership that no one is prepared to manage. Other strategies, such as atrust, a business entity, a buyout plan, or a different distribution strategy altogether, may be more appropriate when family land or income-producing property is involved.
A beneficiary deed transfers the owner's interest in the property, but it does not generally eliminate a mortgage, tax obligation, judgment lien, easement, restriction, or other title issue attached to the property.
The beneficiary may receive property that is subject to:
Property owners should consider both the value of the real estate and the obligations connected to it when determining how to address the property in their estate plan. A beneficiary who cannot afford the mortgage, insurance, taxes, or maintenance may need to sell the property soon after the transfer.
Beneficiary deeds are often relatively cost effective ways to accomplish common estate planning goals. A beneficiary deed may be worth considering when:
The simplicity of the tool can be valuable, but only when the underlying plan is also simple.
A beneficiary deed may not be the best way to address real property when:
In these situations, a trust or more complex estate plan may offer protections and instructions that a beneficiary deed alone cannot provide.
Arkansas families often use beneficiary deeds for their homes as well as farmland, timberland, hunting property, mineral interests, and land that has remained in the family for generations. These transfers require special care.
Family property may involve old deeds, incomplete prior estates, unclear boundaries, multiple parcels, agricultural leases, mineral rights, or undocumented arrangements with relatives. Naming multiple beneficiaries may further divide ownership and make future management more difficult.
Before using a beneficiary deed for family land, owners should carefully consider practical consequences, such as who will manage the property, how expenses will be paid, whether income will be distributed, whether a beneficiary may sell an interest, and how disagreements will be resolved. Answering these questions will help determine whether a beneficiary deed is a goof fit.
Avoiding probate is useful, but it should not be the only goal. Preserving the property and reducing conflict may require a more detailed succession plan.
If you are an heir or beneficiary and believe something is wrong, it is important to act carefully.Common mistakes include:
A deed that appears simple can create years of title or family problems if it does not match the owner's circumstances.
No. Adding someone as a current owner generally gives that person an immediate property interest. A beneficiary deed is designed to transfer the property only after the owner's death.
Yes. Recording the deed in the county where the property is located before the owner's death is essential to the effectiveness of the beneficiary deed.
Usually, yes. A beneficiary deed addresses only the real estate described in that deed. A will can address other probate assets, allow you to name a personal representative, and form part of a broader estate plan.
The beneficiary may be able to sell after establishing ownership and satisfying the requirements of the title company, but mortgages, liens, title defects, creditor issues, or disputes may delay a sale.
Arkansas law allows flexibility in naming a beneficiary, and a properly structured trust may be part of the plan. The trust and deed should be drafted and coordinated carefully.
No. It works best when the intended transfer is straightforward. Complex family relationships, minor beneficiaries, special needs beneficiaries, business property, tax concerns, or shared family land may call for a different approach.
An Arkansas beneficiary deed can be an efficient way to transfer real estate outside probate, but the deed should be part of a coordinated estate plan. The current title, legal description, beneficiary choices, debts, taxes, and long-term goals should all be reviewed before the document is recorded.
RMP Law helps Arkansas property owners and families with beneficiary deeds as well as wills, trusts, probate, real estate matters, and business succession planning. Our attorneys serve clients throughout Arkansas, including Little Rock, Bentonville, Springdale, Fayetteville, Jonesboro, and surrounding communities.
If you have questions about transferring Arkansas real estate or whether a beneficiary deed fits your estate plan, contact RMP Law at 479-443-2705 or use our Message Us form.
Main RMP Number: 479-443-2705
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
DISCLAIMER: The information provided on this website does not constitute legal advice. Instead, all information, content, and materials available on this site are for general informational purposes. Information on this website may not constitute the most up-to-date legal or other information. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.
Main Line: 479.443.2705
Fax Line: 479.443.2718
Email: info@rmp.law
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
JOHNSON
5519 Hackett Street, Suite 300
Springdale, AR 72762
BENTONVILLE
809 SW A Street, Suite 105
Bentonville, AR 72712
JONESBORO
710 Windover Road, Suite B
Jonesboro, AR 72401
LITTLE ROCK
17901 Chenal Parkway, Suite 200
Little Rock, AR 72223