Trusts
Trusts and Nursing Home Costs
No matter your current age, you will likely need long-term care at some point. Long-term care can be very costly — and it can take a financial, physical, and emotional toll on your family.
Read MoreWhat to Know About Estate Planning in Utah
It is a universal truth that human beings age. The passing of time affects the body in many ways, eventually causing the inevitable conclusion. It may be heartbreaking for those in the dearly departed’s life when they pass away, but it is the natural course of life.
Read MoreWhat Is a Special-Needs Trust in Utah?
A Special-Needs Trust is a form of estate planning that concentrates heavily on the special care and needs of our loved ones with disabilities
Read MoreASK TOM: What are Red Flags for Beneficiaries of Trusts and Estates
If you are a beneficiary of a deceased person’s Trust or Estate, and you are experiencing the following, you are in the red flag zone where something needs to be done: You don’t see the bank statements, even when you ask for them. You don’t get copies of financial statements at death and on an…
Read MoreASK TOM: To Give or Not to Give Big Gifts?
A Time to Give: If one spouse has a catastrophic illness or is trending in that direction (say due to declining ability to keep track of things), it is a time to consider large gifts. The gifts are expedient if there is no resource with which to pay nursing home care as the sick spouse…
Read MoreAsk Tom: What are the advantages and disadvantages of a pot trust?
What is a pot trust? A pot trust is a trust for children, who are still depending on their parents who passed away before the children reach adulthood. The purpose of a pot trust is so the trustee can determine the financial needs of the children who still haven’t made it to adulthood. Essentially the…
Read MoreASK TOM: Why do I need a trust?
Have you been wondering if you need a trust? Watch our 1 minute YouTube video about the advantages of a trust!
Read MoreASK TOM: Do I Really Need a Lawyer For Estate Planning?
In a culture of Do-It-Yourself, does it make sense to retain an attorney to complete your estate planning? We are all aware of the availability of legal documents on the Internet and the ease with which you can purchase a legal package to complete your own Will and some related documents. I read an article…
Read MoreWhen Should Your Estate Planning Documents Be Reviewed By An Attorney?
Although a comprehensive estate plan should not require frequent extensive review, we recommend that a periodic review of your estate plan is made to ensure that your plan is still in compliance with the law, and that your personal or financial situation has not changed. The rule of thumb in the industry is that you…
Read MorePlanning In Second Marriages
We all know someone who is in a second marriage and many of us are in a second marriage. Second marriages can be exciting and fulfilling while at the same time present special planning challenges. A second marriage may include his children, her children, and sometimes our children. How will the new spouse be provided…
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