Far too many people put off estate planning until it is too late, or do not think about estate planning at all. You and your family deserve better than having to abide by default laws that apply at the end of your life and after your death. A comprehensive estate plan gives you control over your own legacy – on your terms.
Pearson Butler deals extensively with estate planning matters. The firm’s Utah estate plan attorneys can answer questions you may have regarding any aspect of this complex area of law. In collaboration with you, your attorney can create an estate plan to accomplish your goals and give you peace of mind.
Pearson Butler provides the following estate planning services, and more:
- Asset protection and business planning
- Farm or family business planning
- Trust administration and probate
- Incapacity planning
- Legacy planning
- Retirement planning
- Special needs planning
- Powers of attorney
- Pet planning
- Income tax planning
- Estate and gift tax planning
- Medicare and Medicaid planning
- Veteran planning
- Business succession planning
- Charitable planning
- Utah Asset Protection Trust help
- Foreign trusts
To learn more about the firm’s services and to discuss your needs with a qualified estate planning lawyer, call (800) 265-2314. Pearson Butler serves all of Utah from offices in American Fork, Bountiful, and South Jordan.
What Is Estate Planning?
Estate planning is a process that involves making advanced plans for end-of-life issues, and for property and assets when one passes away.
Any person may become sick or hurt, creating a situation where they need nursing care or where tough choices must be made about medical treatment. Every person will eventually pass away, which could cause undue problems if no plans have been made regarding assets and property.
Estate planning utilizes legal and financial tools to address the issues that arise in case of illness, incapacity, and death. The planning process is different for everyone, because you may have your own unique goals, like supporting a charity or paying for your child’s college education.
A good attorney will listen carefully to you, ask questions that help you to shape the estate planning process, and assist you in using the right tools.
An estate plan may involve the following steps:
- Creating a last will and testament.
- Creating trusts to protect assets during your lifetime and from loss by irresponsible heirs after your death.
- Creating advanced directives for healthcare, including a do not resuscitate order and/or a living will.
- Creating a power of attorney to give someone authority to act for you if you become incapacitated.
When Should I Make an Estate Plan?
It is important to make an estate plan as soon as you have assets, have anyone depending upon you, or have become an adult with your own opinions about your medical care. Many people mistakenly believe estate planning isn’t something they need to worry about yet, but this is simply not true.
It is wise to create an estate plan if any of the following are true:
- You have a spouse and/or child you want to be provided for if something happens to you.
- You have a child or children and you want to name a guardian for them, should you pass away.
- You want to plan ahead for your medical care, just in case you become incapacitated.
- You have strong opinions about your end-of-life care.
- You want to be sure your wishes are carried out to the letter regarding your assets/property.
- You want to protect your assets from estate taxes, lawsuits, and creditors.
- You want to qualify for Medicaid in the future, without “spending down” your assets.
Life is uncertain. You don’t want your assets losing value because of mismanagement or your family fighting over your property if something unexpected happens to you. Your estate plan can address issues like reducing or avoiding estate taxes, dealing with irresponsible heirs, and making sure you have a trusted person who will take care of your kids in case you pass away. Whatever your goals, estate planning can help you achieve them.
Contact the Utah estate planning lawyers at Pearson Butler today at (800) 265-2314.