Washington, Utah Estate Planning Lawyers

Many people avoid thinking about the future and getting their affairs in order, and understandably so. Life can keep us extremely busy with the here and now. It can seem overwhelming to try to picture and plan for scenarios that may occur years from now, and it can be emotionally uncomfortable to ask the hard questions about what will happen to your family and your possessions when you are no longer around to take care of them. However, the truth is that tomorrow isn’t promised! None of us know what the future holds. If you don’t take time now to develop an estate plan, you could leave everyone you love and everything you’ve worked for at risk. Proven Law’s knowledgeable Washington, Utah estate planning lawyers will work with you to preserve your legacy and simplify the planning process! Schedule a free 30 minute consultation today to learn more and get started.

What Is An Estate Plan?

An estate plan is a collection of legal documents and tools that protect your hard-earned money and your family members from the possibility of your death or incapacitation, or other negative life events. It may include the following:

• A will – This is a legal document that determines how your assets will be distributed upon your death. While there are many types of wills (last will and testament, pour-over will, joint will, etc.), most types of wills can only take effect upon your death. Wills can also designate guardians for minor children.
• A trust – Trusts are fiduciary entities that own assets outside of your name within the entity itself; you can designate a trustee and beneficiaries (which can include yourself). The assets inside the trust can be managed according to the terms you set during your lifetime and then distributed according to the terms upon your death. There are many different types of trusts, with the main two categories being revocable (flexible) and irrevocable (inflexible). 
• A power of attorney – This gives someone you trust the power to make legal, financial, and/or medical (depending on the type of power of attorney) decisions on your behalf if you are incapacitated or mentally unfit to do so yourself. 
• An advance directive – This clearly spells out your wishes for what kind of medical care you would like to recieve if you are incapacitated (e.g., if you would like to be on a ventilator or not, etc.).  
• Beneficiary designations – This ensures that all of your bank, retirement, and other accounts will go to the people you want to inherit them upon your passing.
• And more. 

What tools your estate plan needs to include should be personalized to your unique needs and goals. Your life is not like anyone else’s, and your estate plan shouldn’t be either! Our Washington, Utah estate planning lawyers can explain all of your options and will take the time to review your financial situation and family dynamics before customizing your plan. 

Why Do You Need An Estate Plan?

There is a common misconception that trusts in particular (but estate plans in general) are only for the rich. However, everyone who owns property or has family should have an estate plan, and there are many reasons why. 

If you don’t have a plan, your estate – everything you own – may have to go through probate, which is an expensive, burdensome, time-consuming Utah court process that may have to occur before your beneficiaries can inherit your possessions. It’s the last thing your family will want to be doing when they are mourning your loss. Utah state laws will govern what happens to your assets and when, which may not be in accordance with what you would have wanted!

Making your death easier on your family isn’t the only reason to have an estate plan; during your lifetime, there are many things that can threaten to deplete the inheritance you are building for your family, such as illness, or nursing home costs, or incapacity. An estate plan safeguards your wealth from these things so you can have peace of mind for the present and the future! 

Why Choose Proven Law’s Washington, Utah Estate Planning Lawyers To Help You?

At Proven Law, we only focus on trust, estate, and tax matters, and we are very good at what we do! Our estate planning attorneys have over 95 years of combined experience and have been voted the Best of Southern Utah for 4 years in a row. You can rely on us to set your mind at ease and ensure that your wishes will be honored, no matter what. Call today to schedule a free 30 minute consultation.