Estate Planning Documents The first tool we’ll introduce is the concept of the estate planning document. Proper documentation is a necessary part of estate planning – it’s what makes your plan legally binding. You’ve likely heard the terms “Trust” and “Will” before. These documents or the basic building blocks of estate planning, and it’s important… Continue reading Estate Planning Tools That Every Person Should Know About
While it may be a difficult topic to think about, estate planning is an important step you can take to protect the interests of your family. A well-prepared estate plan will help you ensure your wishes are carried out and your loved ones are taken care of once you’re gone. It can be a hard… Continue reading Estate Planning Mistakes That You Must Avoid
A will is a formal legal document detailing the disbursement of your assets. It is crucial to the success of an estate plan that your will be properly in accordance with state law. The laws governing the drawing up of wills vary considerably from state to state. For example, holographic wills (those written in a… Continue reading Do I Need A Will In Utah?
State intestacy laws define the rights of inheritance if there is no valid will. But there are other state laws as well that may give a surviving spouse, children, and even grandchildren a legal right to claim an inheritance. This right may apply even if they were not named in your last will. Talk with… Continue reading Do Children Have A Right To Inherit?
If your loved one passed away without a will, Utah law provides several options for settling the affairs of his or her estate. Utah is one of several states that allows for independent administration of a person’s estate after he or she passes away without a will (also known as “intestate”). Independent administration is a… Continue reading Cost-effective Probate Alternatives When A Person Dies Without A Will
If you’re settling the estate of a deceased person who hasn’t left a will, you probably have more than a few questions about how the estate will be distributed. First, it’s important to understand that many kinds of assets aren’t passed by will, such as: life insurance proceeds real estate, bank accounts, and other assets… Continue reading Can You Probate An Estate Without A Will?
A trust is a legal document that creates a fiduciary relationship in which one party holds legal title to a beneficiary’s property for the benefit of the beneficiary. A trust can go into effect prior to death, in which case it is called a living trust (or inter vivo trust). Such a trust could be… Continue reading Can I Put A Trust In My Will?
Utah does not have a state inheritance or estate tax. However, there is still a federal estate tax that applies to estates above a certain value. And like all states, Utah has its own unique rules and laws that apply to various aspects of the estate planning process. Note, though, that estate planning is a… Continue reading Can I Exclude My Spouse From My Will In Utah?
If you own real property and are looking for a way to avoid probate, you need to understand the benefits of a transfer on death deed. This simple document may help you to simply and inexpensively avoid probate for real estate. Probate can be expensive and time-consuming, but it may be avoidable. For real estate,… Continue reading Beneficiary (Transfer-on-death) Deeds & Medicaid Eligibility In Utah
Ancillary probate is an additional, simultaneous probate process that’s required when a decedent owned real estate or tangible personal property in another state or states. The laws of a state where property is physically located typically govern what happens to that property when the owner dies—not the laws of the state where the decedent lived… Continue reading Ancillary Probate Administration In Utah
