Estate Planning Attorneys in Lehi, UT

Providing Valuable Legal Services to Clients Drafting or Revising Estate Planning Documents

It’s never too early for you to start planning for the future. But there is such a thing as waiting until it’s too late. If you do not draft a valid estate plan now, there is a chance of estate litigation and issues between beneficiaries when you pass away, leaving your family to deal with complicated legal challenges.

Additionally, some estate planning matters focus on legal issues that can affect you during your lifetime, such as naming a healthcare proxy to handle medical care if you are ever left incapacitated due to illness or injury. Without the proper estate planning documents in place, certain legal matters could quickly become complicated, such as estate administration, asset distribution, your tax burden, and guardianship for minor children.

This is why you should put your estate planning needs in the hands of the skilled legal team at Trusted Estate Planning Attorneys. At our Lehi, Utah, law firm, we believe in providing compassionate, comprehensive, and communicative legal services to clients in need. Whether you are looking to name beneficiaries for your will, create a trust, dispute an estate plan, or address any other legal concerns, our knowledgeable Utah lawyers would be proud to represent your interests in and out of a court of law. Call our law firm today for the legal support you need from experienced estate attorneys.

What Factors Should You Consider When Beginning the Estate Planning Process?

There is a common misconception that estate plans are reserved only for the super-wealthy or those with large estates. The truth is that every Utah resident over the age of 18 with any assets whatsoever should consider creating a comprehensive estate plan. This is especially true for Lehi residents who are parents or grandparents, so we urge you to contact us today if you don’t have an estate plan in place yet.

As you prepare to create an estate plan with our guidance, you should consider the following factors:

• Asset protection: You and your estate planning lawyer can discuss strategies for protecting your assets from creditors, judgments, and taxes
• Elder law and Medicaid planning: If you are approaching your elderly years, it is time to consider long-term care planning. This may include setting aside assets before you need nursing home care
• Family dynamics: Consider your family’s dynamics and whether there is a high likelihood of conflict between beneficiaries and heirs after your death
• Inheritance: Determine who you wish to inherit your assets and primary residence after your death
• The named executor or trustee: You must appoint a competent individual, such as a trusted family member, whom you trust implicitly
• Your financial goals, investments, and objectives: When you sit down to speak with our legal team, you should be prepared to consider your investment portfolio, your family’s financial security, charitable causes that interest you, and any ways to minimize your estate taxes

When you hire our firm for trust and estate counsel, you’ll have skilled legal professionals by your side to answer questions about your estate planning options while ensuring you end up with a comprehensive, customized plan. Call today for an initial consultation with our team.

What Goes into a Comprehensive Estate Plan?

At the heart of virtually every estate plan is a last will and testament. Your will establishes your beneficiaries and ensures that each one receives the assets you wish for them to have upon your death. However, many individuals and their families would benefit from more comprehensive estate plans that go beyond a written will to declare beneficiaries and asset distribution.

Based on your unique goals, our estate planning lawyers can help you create the following documents:

• Advance healthcare directives: These estate planning documents establish your wishes for medical care and end-of-life decisions, as well as naming a healthcare proxy to act on your behalf
• Business succession planning: If you own a business, you want to ensure that your business is managed and transferred according to your wishes when you retire or pass away
• Powers of attorney: A power of attorney document can help manage your financial affairs if you are ever left incapacitated and unable to speak for yourself due to illness or injury
• Trusts: Utah residents have several different types of trusts available. Depending on your needs, including asset protection, special needs planning, and charitable giving, we may recommend different types of trusts to different clients

If you do not have a will or other estate plan document in place at the time of your death, your estate will be divided according to Utah’s intestate laws. In many cases, this means that your spouse or children will inherit the entirety of your estate, regardless of your wishes for other beneficiaries to recover property and assets. If you want more control over how your assets are distributed, call our firm for legal guidance from trusted estate planners serving Utah.

How Often Should You Review and Update Your Estate Plan Documents in Utah?

We generally recommend that everyone consider reviewing and updating their estate plans at least once a year. This ensures that you can make any necessary changes or additions to your plan that you and your lawyer believe may be appropriate, so we encourage our clients to conduct periodic reviews with our assistance.

However, certain major life events may trigger the need to revise an estate plan more immediately. Examples include divorce, the death of a beneficiary, new substantial gains in wealth, bankruptcy, marriage, and the birth of a new child. If you already have an estate plan and have experienced these or other significant life changes, contact us today to request the changes you need.

Whether you need to change an existing plan or make a new one, we’d be happy to provide you with a free estate planning consultation to discuss your unique goals. At that point, we will help you determine a strategy to minimize taxes, protect your investments, reserve your property for your spouse and other beneficiaries, and more. To learn more about our legal services and the benefits of creating an estate plan, please get in touch with our Lehi, UT, law office to schedule your free 30-minute consultation.

How Can Experienced Estate Planning Attorneys in Lehi, UT, Help You?

As your legal representatives, we can help you understand the differences between several estate planning documents that are available to you. Since many of these documents have similar names and meet similar objectives, we recommend that you speak with our attorneys before implementing any such documents into your estate plan.

When you meet with our estate planning attorneys, we’ll review your goals for protecting your family’s finances long-term. We can then suggest elements to include in your estate plan, ensuring you feel comfortable asking any questions you have along the way.

Our legal professionals can assist in setting up trusts, drafting wills, establishing business succession plans, and reviewing alternative ways to protect your assets. During probate, we can help family members through this difficult time of grieving as they contend with the legal process. Additionally, if estate or probate litigation is ever necessary, we are proud to represent clients contesting a will or trust.

If you’re ready to discuss your legal options for your estate plan, contact our Utah law office at 385-993-3523. We’ll answer any questions you have about our estate planning experience, the estate planning attorney cost to expect, and more. Call today to schedule a consultation with our attorneys.