Our Practice Areas – Estate Planning
Let us introduce you to our firm’s basic estate planning process
- General Durable Power of Attorney – This document is signed now while you are still competent to give authority to other trusted individuals who can then make decisions for the future. However, please understand that these powers arise only once you have been determined to be incapacitated.
- Utah Advanced Health Care Directive – aka the living will. This document allows appointment of a specific person to act in your behalf in cases of medical emergencies. It directs physicians to exactly what your wishes are.
- Will – This document catches assets that were not transferred to the Trust and directs that they be so transferred after you have passed away. This type of will is referred to as a “pour over” will. It also allows you to nominate a guardian for your minor or dependent children.
- Trust Agreement – This document provides the easiest and most complete way of transferring assets effectively while avoiding probate. There are many other significant advantages which will be discussed in more depth below.
- Certification of Trust – This document summarizes the elements of the Trust.
- Schedule A – This document lists each of your assets.
- Personal Property Letter – This document allows an easy distribution of any untitled personal property that wasn’t listed on your Schedule A
A completed estate plan would be intended to provide many benefits, some of which are listed below:
- Avoid probate (for all assets you put in the trust).
- Facilitate the distribution of assets to heirs.
- Provide a management and conservation framework for assets.
- Allow the maximum privacy of holdings during estate transfers.
- Facilitate care of and management of assets during periods of incompetence.
Clients normally meet with the attorney(s) on two separate occasions. The first meeting would include a basic overview of the documents listed above. Different documents are explained in depth and together decisions are made that will culminate in an estate plan drafted specifically for you. At the second meeting, we will review your documents, answer any questions you have, and then sign your documents. It is our goal that you have a clear understanding of how your estate plan works, with a sense that your desires and goals have all been incorporated into your estate plan.
Call us today to schedule an appointment: 801-437-4995