From companion dogs to award winning horses to cats that are a business asset, people often want to ensure their pets are cared for after their death. Choupette Lagerfeld, a Birman cat, inherited a significant sum in the millions when Karl Lagerfeld died earlier this year. Even individuals with much smaller estates want to ensure…
An estate plan can include a wide variety of assets from the traditional house and car to intellectual property (IP) assets such as patents, copyrighted artwork, and trademarks for closely held businesses. When planning an estate, these items should be considered to ensure your heirs are aware of your ownership and your heirs should know…
While estate plans tend to focus on the large, high value items like real estate, cars, securities, and cash, just as many family squabbles occur over low-value personal items left behind by loved ones. From grandmother’s brownie pan to dad’s favorite hunting jacket, these items often have personal significance to multiple family members and dividing…
When someone is purchasing property, they often do so with no regards to the state the property is located. It’s not at all unusual for someone to own property in two or more states. While they are only a resident of one state when they die and that state is generally where they have many…
When planning an estate, one aspect your trusts and estates attorney will consider is the location of your property, particularly real property, when setting up your trusts. This is especially true when you want the trusts to run for a long period of time and control your assets for the benefit of your children and…
Even with the most comprehensive estate planning, it is still a good idea to do a pour-over will. While the bulk of your assets may be distributed without the probate process, any assets not included in the plan, such as your personal effects, money in your individual bank account, or a new car you just…
If part of your wealth lies in the ownership of a business, then you may be looking for how to pass on that business to your loved ones. This is especially true for businesses such as rental and real estate holding companies and others that require less management to generate income. For many business owners,…
A wonderful way to give to charities you support, from your favorite local mission to the college that helped you gain the skills you needed to succeed in life is to leave a gift to that charity in your estate. When discussing your estate plan, you should mention your desire to give to charity and…
Estate planning, especially when handling larger estates, complex family situations, or unique assets, often involves setting up and funding various types of trusts. Utah law on trusts and estates has its own unique quirks that make it important to have an experienced estate attorney help you determine the best way to organize your assets in…
When planning your estate, you’re also planning for retirement and working to ensure your loved ones are well cared for in the future. Even if your estate is large, you want to take steps to make sure your spouse is getting all the benefits they’re entitled to and that those benefits are considered when planning…