Wills & Trusts

A will is a legal document that is left behind for loved ones after one's death containing instructions as to what should be done with any assets or cash and how things are to be dispersed throughout your family. Sadly, when someone is on his or her deathbed, rather than focusing on spending quality time with the loved one, some families get wrapped up in all the legalities that go along with “who gets what.” Some family members might feel they are not getting their “fair share” and this can not only cause a rift between family members, but also make the last moments of a passing loved one less than amicable.

This is why it is a good idea to have a solid will drawn up, so as to avoid as much conflict as possible among family members. Having someone in the family designated to handle the dispersal of assets and money can make things much easier and less stressful for family members.

Trusts include the following types of legal matters:

Revocable Living Trusts (Most common type)
General Irrevocable Trusts
Life Insurance Irrevocable Trusts (For high asset individuals)
Qualified Personal Residence Trusts (For high asset individuals)
Special Needs Trusts
Testamentary Trusts

Related Blogs

A Quick Introduction to the World of Trusts

March 15, 2022

There are many different avenues available to help you accomplish your estate planning goals. One of the most commonly used tools is a trust. In essence, a trust is a legal document that manages one's assets up to and after one's death. This form of estate planning is popular because it provides a lot of flexibility and privacy.

Can You Use a Video Will to Distribute Assets to Your Relatives?

September 14, 2021

In this time of modern technology, it's not uncommon to capture important moments on video. Whether it be by a cell phone or laptop, video communication is an integral part of contemporary life. Thus, it may make sense to think that it's possible to create a will by simply making a video. In fact, many movies portray this as a perfectly normal thing.

What Does It Mean to Have a Self-Proving Will?

April 28, 2021

If you have been looking for information about wills, you may have come across the "self-proving" will. This is like any other will, but it has one additional component. In estate law, a self-proving will has a sworn statement attached. This statement is created by the witnesses who observe the signing of the will. As such, these wills have an extra layer of security when it comes to proving its validity. See what else you should know about self-proving wills in the state of Utah.

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