Everyone leaves a legacy behind. The only decision you must make is whether you want fate to shape your legacy or whether you want to take control of your own destiny and determine how you will be remembered. Many people want to make a meaningful contribution, changing the lives of future generations or even changing the world. If you care about the impact you will make and want to start planning your legacy, give Pearson Butler a call.
The seasoned Utah legacy planning attorneys at Pearson Butler help people of all ages and all income brackets. Anyone can create a legacy that makes the world a better place and the firm is honored to help you to do just that.
To get personalized advice and find out how a skilled lawyer can help create your legacy plan, call (800) 265-2314.
Do I Really Need Legacy Planning?
If you do not create a legacy plan, you will still leave a legacy. Unfortunately, that legacy could be one of your family fighting over your assets, selling the business you’ve worked to build, losing farmland that has been in your family for generations, or losing the family home to Medicaid estate recovery.
The bottom line is, you need a legacy plan to make sure you avoid undesirable outcomes and achieve the goals you have set for yourself.
You should make a legacy plan if:
- You want to protect everything you’ve worked your whole life to acquire and not lose assets because you need nursing home care or because estate taxes are too high.
- You want to make sure your heirs receive gifts that are a benefit, not a burden. You can ensure money and property are managed appropriately for heirs and kept safe in case of divorce or bankruptcy. If you have heirs with special needs, you can make sure you don’t cause a loss of access to government benefits.
- You want to give to a charity. You can use different tools, like a charitable remainder trust or starting a charitable foundation, to make sure you support causes you care about.
- You want to spare your family difficult choices at the end of your life about medical care and other related issues, and you don’t want your family to end up fighting over money or property.
If you have a workable legacy plan in place, you can do great things. From paying for your grandchild’s education to making a real difference in fighting against injustice and improving the world, you have the power to effect change.
The Key Parts of a Legacy Plan
Legacy planning is different for everyone, but the key is to use the applicable legal tools to grow your assets, protect your assets, and use your assets for good.
The following may be included in a legacy plan:
- A last will and testament
- Trusts, for asset management and asset protection
- A power of attorney
- Planning for charitable giving during your life and after death
Legacy planning should start when you are young and should often begin with taking steps to amass the assets that will serve as your future legacy. Throughout your life, Pearson Butler can help you take the right legacy planning steps so you can experience peace of mind in knowing that you’ve determined how you will be remembered.
Contact a Utah Legacy Planning Attorney Today
Pearson Butler has a long track record of assisting clients in all the essential steps of legacy planning, from building and protecting assets to making sure your money helps your loved ones and charities after you are gone.
Request a confidential consultation by calling (800) 265-2314 or contacting the firm online.