Although it is difficult to think about times when you are no longer around, it is important to do so to ensure that your loved ones will be taken care of. One option you should look into is a revocable trust. This offers confidence in what otherwise can be a very troubling decision to make.… Continue reading What’s The Difference Between A Revocable And Irrevocable Trust In Utah
Beneficiary designation is an important aspect of the estate planning process, but it’s actually something that’s dealt with outside of your actual estate plan. Further, if your designated beneficiaries don’t match up with the provisions in your estate plan, it could lead to some trouble. A beneficiary designation is the act of naming the person… Continue reading What Is The Difference Between Beneficiary Designations And Trusts
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 vivos trust). Such a trust could be… Continue reading What Is A Testamentary Trust In A Will?
The executor plays a very important role after the testator (the person to whom the will relates) dies, including the tasks of tracking down assets, paying creditors, and making sure beneficiaries named in the will receive the property to which they are entitled. An executor is someone appointed by the court, often nominated in the… Continue reading What Exactly Does An Executor Of A Will Do?
A Trust, generally, is a legal entity that can hold title to property. There are three parties to a Trust agreement: the Trustmaker who creates the Trust, the Beneficiary who receives the benefit of the property held in the Trust, and the Trustee who manages the Trust. The property that is transferred to and held… Continue reading Trusts Are Not Always The Best Option
Estate planning goes beyond drafting a will. Thorough planning means accounting for all of your assets and ensuring they transfer as smoothly as possible to the people or entities you wish to receive them. Along with implementing your plan, you must make sure others know about it and understand your wishes. Itemize Your Inventory To… Continue reading Things To Do Before You Die
The executor of a will is responsible for sorting out or distributing the finances of an individual after the latter’s death. They serve as a legal personal representative and manage the estate of the deceased in accordance with the terms stated in the will. They ensure that the debts and taxes on the property are… Continue reading How Estate Executors Can Successfully Navigate Utah Probate Process
