Salt Lake City Estate Planning Lawyer
Start Preparing for the Future Today
It's never too early to begin planning for your future and ensuring that your loved ones are taken care of. Unfortunately, many people delay or neglect estate planning altogether. Don't settle for default laws dictating the distribution of your assets after you're gone. Take control of your legacy on your own terms with a comprehensive estate plan.
At Pearson Butler, our team of experienced Salt Lake City estate planning attorneys specializes in handling estate planning matters. Whether you have questions about this complex area of law or need assistance with specific aspects, we're here to help. Collaborating closely with you, your attorney will design a customized estate plan to achieve your goals and provide you with peace of mind.
Our estate planning services include:
- 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 assistance
- Foreign trusts
To learn more about our services and discuss your needs with a qualified Salt Lake City estate planning lawyer, call (800) 265-2314 or reach out to us online. Pearson Butler serves all of Utah.
Understanding Estate Planning
Estate planning is a process that involves making advanced arrangements for end-of-life issues, as well as the distribution of property and assets after death.
Anyone can face sickness, injury, or the need for nursing care, which may require tough medical decisions to be made. Additionally, everyone will eventually pass away, and without proper plans in place, this can create unnecessary complications concerning assets and property.
Estate planning utilizes legal and financial tools to address issues related to illness, incapacity, and death. Each person's planning process is unique, as individual goals, such as supporting a charity or funding a child's college education, come into play.
A skilled Salt Lake City estate planning attorney will attentively listen to your needs, ask relevant questions to shape the estate planning process, and guide you in selecting the appropriate tools.
An estate plan typically involves the following steps:
- Creating a last will and testament.
- Establishing trusts to safeguard assets during your lifetime and prevent loss due to irresponsible heirs after your passing.
- Developing advanced directives for healthcare, including do-not-resuscitate orders and living wills.
- Designating a power of attorney to authorize someone to act on your behalf if you become incapacitated.
Factors to Consider in Your Estate Plan
Several factors should be taken into account when crafting your estate plan. These include determining who will inherit your assets, who will make healthcare decisions for you if you're unable to do so, how to provide for a minor or child with special needs, and how to avoid probate and guardianship proceedings.
When Should You Create an Estate Plan?
UPDATE: Discover why updating your estate plan during the COVID-19 pandemic is more critical than ever.
It's essential to establish an estate plan as soon as you acquire assets, have dependents, or reach adulthood with personal opinions about your medical care. Many people mistakenly believe that estate planning can be put off, but this is a misconception.
Consider creating an estate plan if any of the following apply to you:
- You have a spouse and/or children whom you want to provide for in the event of your absence.
- You have children and want to designate a guardian for them if you pass away.
- You wish to plan for your medical care in case of incapacitation.
- You hold strong views regarding end-of-life care.
- You want to ensure your wishes are meticulously followed regarding your assets and property.
- You want to safeguard your assets from estate taxes, lawsuits, and creditors.
- You want to qualify for Medicaid in the future without depleting your assets.
Life is unpredictable, and you don't want your assets to lose value due to mismanagement or your family to endure disputes over your property in unforeseen circumstances. Your estate plan can address issues such as minimizing or avoiding estate taxes, dealing with irresponsible heirs, and appointing a trusted guardian for your children. Whatever your goals may be, estate planning is instrumental in achieving them.
Contact Pearson Butler's Salt Lake City estate planning lawyers today at (800) 265-2314.