Utah Estate Planning
Our Utah attorneys are experts in estate law, providing top-notch services for drafting and managing wills, trusts, estate plans, probate documents, and more. With their vast experience in the field of asset protection planning and wealth management strategies you can rest assured that our team will provide legal advice that suits your needs exactly.
- Last Will & Testament
- Living Wills
- Formal & Informal
- Probate
- Small Estate Affidavits
- Trusts
- Power Of Attorney
- Last Will & Testament
- Living Wills
- Formal & Informal
- Probate
- Small Estate Affidavits
- Trusts
- Power Of Attorney
Wills
A will is a necessary legal document that expresses your final wishes. Our team of estate planning lawyers at our firm is dedicated to helping you determine and establish these intentions for when the time comes. We draft wills not only for clients who are elderly but also for young couples, newly-minted parents, and those who have just begun accumulating wealth – in other words, no matter what stage of life you’re in!
A will generally includes:
- How your property and debts will be distributed upon your death,
- Who you wish to act as the personal representative for your estate,
- The terms on which you want your belongings to be handled.
Contact our estate planning law office for a consultation today.
Trusts
Trusts are intricate legal entities that you form to manage and distribute your assets during life or after death. Trusts empower you with comprehensive control over who is granted access to the property, for example by setting age requirements or specific conditions before anyone can receive any assets. Creating a trust necessitates an attentive review of all details as well as organized planning from an estate lawyer in order to ensure its success.
If you are looking for professional help to set up a Trust in Utah ID, look no further! Our team of experts have already done this for dozens of clients and know exactly how to navigate the process. Our years of experience constructing every type of Trust gives us an advantage over any other company. Let us take away your worries as we create a tailored solution just right for you.:
- Revocable Trusts
- Irrevocable Trusts
- Family Trusts
- Living Trusts
- Charity Remainder Trusts
- Testamentary Trusts
- And more.
Contact our Utah estate planning office for a consultation today.
Probate in Idaho Falls ID
Who are the main players in probate?
Narrowing down who is involved in the Utah probate process can be as easy as knowing which of the four main categories apply to you.:
- The Executor—If someone passes away in Utah without leaving a will, the state appoints an individual it believes to be most suitable for fulfilling the deceased person’s wishes. This executor has the responsibility of gifting and allocating financial resources as specified by their final testament. However, if there is a vallast will and testament, then that person can choose who they prefer this executor should be from among family members or close friends.
- The Beneficiaries—Designating beneficiaries is an important step in ensuring that the assets of a deceased person’s estate are distributed to their desired recipients, such as family members and close friends, or even organizations, charities, and other individuals.
- The Creditors—Individuals who are responsible for recovering monies owed by the estate.
- The Judge—He or she presides over the probate process.
Contact our Utah estate planning law office for a consultation with a probate attorney.
What does probate involve?
Following a person’s passing, the executor (often an attorney) collects all documents associated with them (such as their death certificate and last will and testament), then submits them to probate court.
During this process, probate lawyers will:
- Gather assets—Uncovering and accurately assessing your assets is crucial. Everything from retirement accounts and investments to personal objects can be taken into account during this process.
- Alert creditors—If there are debts associated with the estate in Utah, ID, creditors must be notified so that they can receive payment. Creditors could consist of contractors, mortgage companies, credit card agencies and more. Also remember to provide compensation for the funeral director’s services.
- Distribute the remaining estate—Once all debts have been settled and the worth of remaining assets has been ascertained, the executor can start to disperse what remains of the deceased’s estate as stated in their final will. Consequently, providing heirs with a sense of closure while honoring the wishes of those who are no longer present.
The final duty of filing the deceased person’s last taxes is not part of the official court proceedings, although it can be managed by your estate planning attorney. This must typically happen within nine months following the individual’s passing.
Contact our Utah estate planning office for a consultation today.
What is the cost of probate?
When it comes to probate court costs, there is no one-size-fits all answer. These fees can vary substantially from state to state and depend on the size of the estate itself; typically 3% – 7%. That being said, if you’re in Utah for instance, your overall cost may be different than that of another region entirely.
The funds of the estate are usually used to pay for probate expenses, making it essential to select an experienced Utah estate planning lawyer who can minimize costs and ensure as much money is left in the hands of your heirs.
Contact our Utah estate planning law office for a consultation today.
To put it simply, probate is a legal procedure that follows the death of an individual. The exact details may vary from one state to another; however, generally speaking, its goal is usually to validate and authenticate someone’s last will—for example allocating assets or taking care of financial matters. You can trust our estate planning attorneys in Utah to help you with each step.
Guided by the court, this process can be made much easier with an experienced Estate Planning Attorney in Utah. With their help, you’ll have peace of mind knowing that your final wishes will be honored and carried out accordingly.
“Estate planning is an important and everlasting gift you can give your family.”
Suze Orman
What You Need To Know About Estate Planning
When discussing estate planning, it is essential to establish what defines an “estate”. Contrary to popular belief, your individual estate does not have to be extravagant; rather, it encompasses all of the possessions you own including funds, real-estate holdings and investments. It’s a simple concept: when combined together these assets represent your “personal estate”.
Consider your:
- Home
- Vehicle
- Savings & checking accounts
- Any personal possessions – furniture, art, electronics, etc.
- Life insurance
- Investments of any kind
Estate planning is a crucial step in ensuring that your wishes are carried out after you pass away. By creating a detailed will, you can outline the instructions for how to divide and distribute your assets upon death.
Have you ever come across the term, “living will”? If so, bear in mind that estate planning is an extended process. It could take 10 years or even longer before it’s complete! Everyone has a relevant estate to some extent and over time your resources evolve – likewise, your will should also change as necessary.
Estate planning attorneys, like us who specialize in estate planning and related practice areas can be a major source of ato you as you make the needed changes.
What's Involved in Estate Planning?
Time
Managing your estate is a process that should be done regularly, as changing circumstances require updates to legal, financial and familial elements. To ensure you are in the best position possible it’s important that you keep on top of these developments over time by consistently reviewing your personal estate plan.
At our Utah law firm, we are devoted to helping you not only meet your estate planning obligations legally but also make the most of it for both yourself and those who will one day inherit your estate. Our experienced attorneys can provide valuable guidance and insight in order to effectively secure a prosperous future for all involved.
Your estate can be passed down to those you love, along with charities and organizations that are meaningful to you.
Construction
To ensure that your estate planning is thorough and beneficial, it’s prudent to partner with a knowledgeable attorney who can help you devise the ideal plan for you and those closest to you.
For instance, a family member with disabilities may need special care, minor children might call for a guardian to look after them and some relatives could be entitled to financial support.
A reputable attorney can help you plan your estate wisely and orderly, ensuring that those closest to you receive the correct inherited amount at exactly the right time, with no unneeded government interference.
Careful Consideration
As a loving relative, it is only natural to wish the best for your family members. However, due to limited resources in an estate, providing them with everything they need may not be possible. For that reason, sound estate planning necessitates being as levelheaded and rational as you can when deciding who gets what; which is why enlisting the guidance of a reputable estate attorney can help make these decisions easier.
When composing your will, it is important to take care that the assets you have accumulated over time go to those who truly deserve them. This means taking into account a variety of factors such as individual competency, merit, needs and beyond. Ensure the recipients are people who can benefit from these possessions in order for their intended purpose to be fulfilled.
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Our Estate Planning Attorneys Offer Services To Clients In Idaho Falls ID 83405 & Nearby Cities
We’ve been practicing estate law services and other practice areas—including personal injury and trademark—for a long time.
