Estate Planning – Wills
Planning for the smooth transition of your estate is one of the most loving acts an individual can do for their family. Families are often caught off guard during an emotional time. They are not only dealing with the loss of a loved one, but the fallout of settling an estate that was not put in order. A vital element to any estate plan is a will.
Wills can help transition a person’s estate to their intended beneficiaries. Family, friends, or charities can be designated to benefit from your desire to give them certain assets at your passing. You must be of legal age, usually 18, and of sound mind to make out a will. Each state governs the validity of a will and how to make it legal. Generally you must sign the will and have two or three witnesses.
If you have minor children you can nominate a guardian or conservator for any minor children you may have. This allows you to direct who should be taking care of your children and not the State. You should also appoint an executor or personal representative to carry out your directions. This person would generally be responsible to pay off any debts, pay taxes, and collect and account for any of your estate assets.
Wills are not private and do not avoid the probate of assets. There are many other aspects of a valid will and its role in an estate plan. While they have many benefits, they are only one part of a good estate plan. Contact a qualified attorney to discuss all of the options as they apply to you personally.
PEARSON & BUTLER, PLLC, deals extensively with Utah estate planning matters. We can answer questions you may have regarding estate planning (e.g., questions about your Utah wills, Utah trusts, power of attorneys, living wells, etc.). In collaboration with you, our Utah attorneys can create an estate plan to accomplish your goals and give you peace of mind. If you need to contact a Utah lawyer, Carson Pearson and Jeff Butler would be happy to offer you a free consultation. PEARSON & BUTLER offer a variety of legal services.
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Wills, Trusts, & Estate Planning Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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