Blog
Who is Liable for the Debts of a Decedent?
If you have recently lost a loved one, you may be wondering who is responsible for paying his or her debts. The good news is that nobody is personally liable for another person’s debts (unless you were a co-borrower or co-debtor with the decedent). The law provides that the creditors of a deceased person must…
Tips for Managing a Living Trust
One of the most important decisions you can make when creating a trust is who to appoint to manage the trust. The position of the trustee is so important that you should also name successor trustees to replace a trustee who is unable to serve or who passes away. With a living trust, you typically…
Do 529 Plans have Tax benefits?
When you are creating an estate plan, it is important to obtain tax benefits where possible. For general information regarding 529 Plans, please read our blog titled “Saving for College Through a 529 Plan.” This blog will discuss the tax benefits of 529 Plans, such as: Federal tax benefits. Even though your contributions to a…
Unmarried Couples Need Estate Plans
Couples (same-sex or hetrosexual) who are living together, but who are not legally married, have unique estate planning needs. When you are married, the law provides you certain automatic protections. However, without that marriage certificate, you and your loved one are not protected unless you create an estate plan. If you have an estate plan,…
Choosing YOUR Estate Planning Attorney
When you are creating your estate plan, one of the most important decisions you can make is selecting the right attorney to assist you. Your estate plan is a personal and private matter, so you want a lawyer that is not only experienced, but one that you trust and makes you feel comfortable. How do…
5 Tips for Getting Your Estate in Order
If you want to make things easier on your surviving family members, it is important to organize your estate. The time you spend taking care of things now will help your loved ones deal with the difficulty of losing you. It will also ensure that your wishes will be carried out. Below are a few…
What is the Difference Between a Guardian and a Conservator?
The terms “guardian” and “conservator” are often used interchangeably because they are related concepts, but they have two different and distinct meanings in Utah. It is important to understand these differences when making plans for the care of your loved ones or for yourself. Guardian The appointment of a guardian allows that person to make…
Funding a Revocable Trust
You have probably heard that it is smart to create an estate plan that includes a trust. Having a revocable trust provides a way to avoid probate, but only if the trust is “funded.” In other words, the trust only protects the property that it holds when you die. Property that is not owned by…
Is Probate Necessary if my Estate is Small?
Many people believe that they do not need an estate plan because their estate is small. However, it is important for everyone to have an estate plan. It doesn’t have to be complex, but it is important to have one. The truth is, if you don’t consciously create a plan, there is one that applies…
What is an Estate Tax?
Estate taxes can be complex and difficult to understand, especially since the law is frequently changing in this area. If you have estate tax planning concerns, you should seek the advice and guidance of a knowledgeable estate planning attorney. Below are a few pointers for a general understanding of estate taxes. The estate tax is…