When it comes to estate planning, some people may believe that they can do it themselves and this is usually a mistake. Writing a will is a complex process, and there are many things that can go wrong if you don’t know what you’re doing. An attorney that specializes in wills and trusts knows the law inside out and can help ensure that your will is done correctly. They can also help with asset protection, which is important for protecting your assets in the event of unforeseen circumstances.
You may not be aware of all the laws and regulations surrounding wills and trusts
There are many rules and regulations surrounding wills and trusts. You may not be aware of all of them, but it’s important to understand the basics. A will is a legal document that outlines your wishes for how your assets will be distributed after your death. Don’t forget about trusts either. Trusts are similar to wills, but they can also be used to manage your assets while you’re alive. You can use a trust to avoid probate, protect your assets from creditors or to provide for someone who is unable to manage their own finances. Both wills and trusts are subject to state and federal laws, so it’s important to consult an attorney before creating one.
DIY wills may not be valid in court
While it is possible to create a will without the help of a lawyer, it is important to be aware that DIY wills may not always be valid in court. There are strict rules about what information must be included in a will, and failing to meet these requirements can result in the will being declared invalid. In addition, DIY wills often lack witnesses and are not signed by a notary public, either of which could cause the will to be invalidated. As a result, individuals who create their own wills may not have their wishes carried out after their death. For this reason, it is generally advisable to seek the assistance of a wills and trust attorney.
A will is a very important document that should be drafted by an experienced professional. If you still choose to write your own will, you may run the risk of making mistakes that could have serious consequences once it is time to administer it. An attorney who specializes in wills and trusts can help ensure that your will is valid and enforceable. They can also advise you on how to best protect your assets starting immediately, provide income and estate tax strategy, and ensure that your wishes are carried out after your death.
An estates attorney can also help you plan for incapacity
In addition to helping you write a valid will, an estates attorney can also assist you in planning for incapacity. This is important because, if you become gravely ill or incapacitated, someone will need to be appointed to manage your affairs. An estate attorney can help you choose the right person for this job and put together a plan that will protect your assets and provide for your care.
You want your wishes respected
A will can help ensure your estate is distributed according to your wishes as well as other important directives for aspects of your life. For instance, if you have young children, you may want to appoint a guardian for them in your will. You can also use a will to express your wishes about funeral arrangements and even organ donation. In addition, if you have specific instructions about how you want your assets to be used after your death, a will is the best way to make sure those instructions are followed.
It’s an investment
An attorney can also help you create a trust, which can provide additional benefits for your loved ones after your death. Trusts can be used to manage your assets while you’re alive, and can also provide for someone who is unable to manage their own finances. Creating a trust is an investment that can pay off in the long run, and it’s something that you should consider if you want to protect your assets and ensure your wishes are carried out.
How can I get help if I need to establish a will and trust in Utah?
ProvenLaw is a legal group serving St. George and the surrounding areas of Utah and Arizona. Our team offers unmatched expertise, professional client service, and peace of mind. We provide services to assist with legal needs such as elder planning, estate planning, and drafting a power of attorney, trust, and wills.
If you have any questions about conservatorship in Utah, or if you need help getting started, contact us today for a free 30-minute consultation to learn how we can assist you.