Blog
Saving for College Through a 529 Plan
The cost of paying for higher education is steadily increasing. Most parents (and grandparents) are concerned with how their children will be able to pay for college. One option to consider is establishing a 529 education savings plan. The term “529 plan” comes from the section of the Internal Revenue Service code that creates and…
Asset Protection Through Family Limited Liability Companies
A Family Limited Liability Company (FLLC) can be an effective tool for protecting your family’s assets from creditors. The FLLC can allow you to maximize your family’s net spendable income while also provide you with estate planning options. What is a FLLC? The FLLC is a form of business or investment entity ownership, which is…
Can your Loved Ones Inherit your Frequent Flyer Miles?
If you are somebody who travels a lot and you have accumulated a large number of frequent flyer miles or reward points, you know they are a valuable asset. Many people don’t think about including them in their estate planning efforts, which is a big mistake. With some aforethought and planning, you may be able…
Guidelines for Asset Protection Planning
If you are wondering if you should be taking steps to protect your assets, you probably should. Whether you have a high-risk job or you are an average person who wants to make sure you are protected if a difficult situation arises, you should contact us to discuss your options. Asset protection planning can take…
Does your College Student need an Estate Plan?
Under the law, your child is considered a legal adult when he or she reaches the age of 18 years. Most parents do not want to think about their young adult needing an estate plan, but in some situations, it is important to do so. If a young person is moving far away from you…
Should your Estate Plan Include a Prenuptial Agreement?
Most people incorrectly believe that prenuptial or ante-nuptial, or premarital agreements are only advantageous for the wealthy or famous. However, having a prenuptial contract can be an important part of your estate planning process, especially if you have been married more than once and you have children from a prior marriage. In fact, it is…
The Initial Meeting with your Estate Planning Lawyer
Your estate plan is a personal matter that should be discussed with and drafted by a lawyer you trust. While it can be helpful to obtain referrals from family members and friends, it is important to understand that the right attorney for them may not be the best fit for you. Many people also find…
When Should I Update my Estate Plan?
If you have created an estate plan, you have taken a very important step in protecting your family. However, it is important to understand that you cannot simply file your estate plan away and forget it. This can result in unintended and costly consequences. Not only does your life change, but so do the tax…
Starting a Business? Avoid these Pitfalls
Entrepreneurs make a wide variety decisions when starting a new business. It is important to make the right decisions and get your entity off to a successful start. If you are a first-time business owner, you must understand the legal risks involved in each of your decisions. Below are a few common pitfalls you should…
Who Can Serve as an Executor in Utah?
When you are creating an estate plan, it is important to choose an individual you trust to serve as the executor, personal representative, or trustee of your estate. This can be one of the most important decisions you make in your estate plan and in protecting your loved ones. In order to serve as an…