When handling an estate, there are a number of parties who have an interest in the estate. Obviously, the named beneficiaries are interested in receiving what has been left to them. However, creditors also have an interest, particularly those who provided your final care. One, in particular, Medicaid, is often in the mix when an…
When you’re creating your estate plan, there are many different ways you can leave your legacy. While it’s generally assumed that the bulk of your estate will go to your offspring or family, it’s completely possible to leave gifts, large sums, and even your entire estate to non-family beneficiaries. Gift Giving If you want to…
Protecting assets and ensuring that children and grandchildren have access to your legacy is an important part of estate planning. Many parents, looking at what their children are currently doing, want to ensure that their assets provide a benefit and are protected from creditors, their own and their children’s. There are many legitimate reasons to…
Giving gifts to our children is second nature. When parents and grandparents are able, helping out with major purchases and expenses in life can be a great way to help those we love get started in the world. From buying that first car to helping make a down payment on a new house, gifts can…
When you own a property with someone else, you often do so as a jointly titled property. This means that you are both owners, but does not automatically mean that your co-owner takes full ownership upon your death. There are a number of different ways property can be jointly held and the wording on the…
When setting up an estate to care for your loved ones, your friends and family and your favorite charities, don’t forget your pets. This is especially true if you have a pet that is likely to outlive you and you want to ensure they continue to receive a high standard of care. Both Utah and…
Your business is likely an important part of your asset structure and is a key consideration in making an estate plan. Your family, business partners, employees, and customers will appreciate that you made an effort to ensure their success moving onward. While not something most business owners want to think about, considering the succession plan…
When you make an estate plan, you’re writing down what you want to happen once you’re no longer around to make those decisions. However, it is possible to be physically or mentally incapacitated and no longer capable of managing your own affairs. A well-drafted estate plan takes into account these situations as well, providing guidance…
When you go to meet with an attorney to make an estate plan, they will likely talk to you about a number of other documents that you need to help you prepare for the different circumstances life throws at you. One of these is a power of attorney. There are many different types of POA…
Sometimes, the family of an individual will challenge the will that is presented to the court. This challenge can happen for a variety of reasons. The family may feel that the will was made when the person was no longer mentally competent, leaving significant gifts to individuals who would not be their natural heirs or…