Helping Clients Feel More Confident About Their Future
Regardless of your age or health, you should have an estate plan in place so your family knows what to do when it comes to distributing your assets and planning your funeral after you pass away. Otherwise, they could end up feeling confused and panicked about finances at a time when they should be able to focus on grieving.
If you’re not sure where to start regarding estate planning, you can depend on skilled Weber County lawyers to explain the most effective estate planning tools so you can choose the ones that best suit your needs. Call Able & Strong Law, Inc. today to schedule an initial consultation with an experienced Weber County estate planning lawyer.
What Does Estate Planning Involve?
When you sit down with Weber County, UT estate planning lawyers, you will get an overview of your legal options. You may be surprised by the sheer number of estate planning tools you can choose from, depending on your financial situation. Some of the most common ones include:
- Guardianship
- Conservatorship
- Revocable trusts
- Irrevocable trusts
- Last wills
- Living wills
- Powers of attorney
- Life insurance
Certain estate planning options work better for specific situations, which your attorney will explain when helping you create your estate plan. For instance, if you own a business or have several valuable assets, your Weber County, UT estate planning attorney might recommend different strategies than they do for clients with smaller estates. Contact our Utah law firm today to meet with a caring estate planning attorney.
What Should You Consider Before You Make a Will?
Wills are considered estate planning staples, so everyone can benefit from having one as part of their estate plan. However, there are two main types of wills: last wills and living wills. While they might sound similar, they have very different estate planning purposes.
A last will is a legal document you can use to leave instructions on distributing your assets when you pass away. So, if you want to leave your home, car, or jewelry to specific family members, you can make this clear in your last will. If you have minor children or pets, you can appoint a guardian for them in your will. Finally, you can include your preferences for your funeral and burial in your last will, as well as list the name of the executor of your will.
On the other hand, a living will features instructions on what to do if you’re alive but unable to communicate due to health issues. For example, if you’re incapacitated due to dementia, a severe illness, or a coma, your doctors can look at your living will to determine what healthcare to provide you with. This is because your living will should include an advance healthcare directive that states your healthcare preferences, as well as a power of attorney that appoints a trusted person to make decisions on your behalf.
Your Weber County, UT estate planning attorney will help you decide if you need a living will, last will, or both of these legal documents along with additional estate planning tools. Call our Utah law office today to arrange an appointment with a compassionate attorney whose legal services can help you plan for your family’s future.
What Is Probate?
A will is the most basic estate planning tool, and since it’s simple and affordable to make, it’s the only tool some people use on their estate plan. However, the main drawback of only having a will is that it must go through probate. During the probate process, the Utah probate court will validate the will to ensure it is correct and authentic. If it is, any taxes and other debts owed will be paid from the estate before your assets are distributed to your beneficiaries.
The probate process can take several months on average, and sometimes it takes longer if there are any disputes. The result is that your family won’t have immediate access to the assets you wish to leave them, which can be a problem if they’re depending on them. This is why avoiding probate is a common estate planning goal.
If you’re interested in avoiding probate, you should talk to Weber County, UT estate planning attorneys about including one or more trusts as part of your estate plan. When you make a revocable living trust, any assets you put in it will bypass probate and go right to your heirs soon after you pass away. If this appeals to you and your family more than waiting on the probate process with a will, let your Weber County, UT estate planning attorney know your preference.
How Can a Weber County Estate Planning Attorney Help?
Whether you’re new to estate planning or wish to update a plan you made years ago, the legal team at Able & Strong Law, Inc. would be happy to assist you. We understand how important it is to protect your family’s future, so we encourage you to meet with our experienced Weber County, UT estate planning attorney to review your options. This is especially recommended if you own a business or have a special needs child in your family, since skilled Utah estate planning lawyers can look for unique legal tools that meet your needs.
If you’re tired of feeling worried or unsettled as you consider a future where you’re not here to provide for your family anymore, it’s time to talk to a Weber County, UT estate planning attorney. When you come to our Utah law firm for estate planning services, we’ll answer any questions you have about avoiding probate, leaving business interests to family, protecting your special needs child, and more. Call our law office at385-438-8801 to speak to a skilled, compassionate Weber County, UT estate planning attorney.