Washington, Utah Will And Trust Lawyers

It’s not always pleasant to think about what will happen to your family and your money when you’re no longer around; that is one of the reasons why people tend to procrastinate getting their affairs in order. However, if you don’t take the time to make things like a will, and a trust, the state of Utah will make all the decisions for you and your family. Your wishes may not be known or honored, and your loved ones could be left in a difficult situation! The truth is that no one is promised tomorrow, no matter how young or healthy – that’s why it is so important to have the right legal tools in place now, while you still have time. 

Our Washington, Utah will and trust lawyers can help you understand what type of will and trust you need and personalize your legal documents to your unique needs and goals. Call today to schedule a free 30 minute consultation and learn more!

Why You Need A Will And Trust

A will lays out how your assets and possessions should be distributed (and to whom) upon your death, while a trust secures assets in a separate entity and manages them both during your lifetime and after your death. 

A will can clarify your wishes for your family, but wills have limitations. For one thing, they can only take effect upon your death. For another, they have to go through probate. Probate is a Utah court process that distributes the assets of a deceased person to their beneficiaries. It is time-consuming, complicated, and expensive; it’s not something you want your family to have to deal with while they are grieving. 

That’s why having a trust may be beneficial. A trust is set up by a grantor (creator/owner), and a trustee is designated to manage the trust for the benefit of the trust’s heirs. In some cases, the grantor, trustee, and beneficiary can be the same person! Trusts do not have to go through probate, and they also go into effect immediately upon creation. This means they can be helpful as an asset protection tool or wealth building tool while you are still alive, or if you become incapacitated. 

Different Types Of Wills And Trusts

There are many different types of wills and trusts. Our Washington, Utah will and trust lawyers will take the time to get to know your specific circumstances and family dynamics, and can explain your legal options so you can have peace of mind that you have the right documents for your needs! Here are a few of the most popular will and trust options:

• Simple will – What most people think of when they think of a last will and testament – straightforward, uncomplex, meant for people with straightforward and uncomplex estates!
• Pour-over will – This type of will is used in conjunction with a trust and transfers any assets in the will into a trust at the time of the will holder’s death.
• Joint will – One will used by two people, usually married couples, where if one dies any assets are left to the co-holder. 
• Revocable trust – This is a flexible trust where the terms can be changed at any point during the grantor’s lifetime (beneficiaries can be added, etc.).
• Irrevocable trust – This is an inflexible trust where the terms, once set, cannot be changed; the assets are technically not owned by the grantor once transferred to the trust. 
• Charitable trust – This is a type of irrevocable trust that distributes assets to a nonprofit organization. 
• Special needs trust – This is a trust designed to provide for the financial needs of children or adults who have disabilities without disqualifying them from government benefits. 

Don’t Take A DIY Approach – Let Our Washington, Utah Will And Trust Lawyers At Proven Law Do It Right!

Some people are tempted to skip out on the formality and costs of hiring a lawyer to draft these complex legal tools and instead rely on information and templates they can find online for free, but this is a dangerous game. Not everything on the internet is accurate. It may not be compliant with Utah law, and it may not be up-to-date; it certainly isn’t customized to your life. Working with our Washington, Utah will and trust lawyers – who have over 95 collective years of experience and who have been voted the Best of Southern Utah for 4 years in a row – is the safest way to ensure that your legacy will be protected, no matter what the future holds! Call today to schedule a free 30 minute consultation and discuss your next steps!