Many families across our country are “blended.” In other words, one or both spouses have been previously married and have children from that prior marriage. Many times the couple goes on to have children of their own as well. Thus, when it comes to estate planning for a blended family, there are some unique issues that must be considered.

You must consider the different interests involved. How will you provide for your surviving spouse, children and step-children? In many cases there is child support, several residences and multiple accounts that must be dealt with in the estate plan. To ensure your estate plan is comprehensive and achieves the results you want, it is vital that you obtain advice from an experienced attorney.

It can be difficult to decide how to divide your assets between your surviving spouse and your biological children. If you are close to your step-children, their interests must be considered as well. If your biological children are minors, you must also address the issues regarding child custody. With so many factors at play, you should make these decisions while you are healthy and can take time to carefully craft your estate plan to best protect your family. Failure to do so could result in:

• You children unintentionally being disinherited
• Your children’s inheritance being delayed until your surviving spouse dies
• Your former spouse making a claim to your assets
• Family disputes over your estate or authority to act

If you have a blended family and you want to ensure that your wishes are clearly documented, contact us today. We can help you prevent family conflict when you are gone.

The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office.

When it comes to estate planning, there is a lot of confusion and misinformation out there. Below are a few topics that many people get confused about:

• You are more likely to die if you create an estate plan. This is fiction! While it may seem silly to you, there are many people who use this as an excuse not to create an estate plan. None of us know when our time will come, but creating an estate plan is an effective means for protecting your family while you are able to do so.
• A trust is all I need. Not true! Most families can benefit greatly from creating a trust; however, your estate planning is not done by simply creating a trust. You must “fund” the trust before it is effective. In other words, you must transfer your assets into the trust. In creating a comprehensive estate plan, you should also include a Will, medical directives, appointment of guardians for minor children, and power of attorney.
• You should routinely review your estate plan. Fact! Don’t file your estate plan away and forget about it. As your life changes, so should your estate plan. Thus, it is a good idea to review your estate plan each year to make sure it still reflects your wishes or to respond to family changes.
• Estate planning is only for the wealthy. False! If you own anything such as a home, car, boat, bank account, retirement plan or other assets, an estate plan can benefit you. It is also beneficial if you have minor children and you want to avoid family fighting once you are gone. An estate of any size can benefit from having a plan.

Estate planning can be an intimidating and confusing process, but it is important to you and your family. Let us help. We will be by your side each step of the way. The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office.

You might think that making the decision to sell your business was the difficult part, when buyers start their due diligence part of the process it can be stressful too. Buyers will want to know what they are getting when the deal closes, which is fair, the process can produce a lot of anxiety for the seller. Thus, it is important to take certain measures to reduce the stress where possible.

Take action
As soon as you make the decision to sell your company, you should start planning for the due diligence phase of the transaction. You should be proactive in collecting and organizing all of the legal documentation you know the buyers will want to review. For example, buyers will want to see your formation documents, key business contracts, financials, tax returns, employee files, and records related to your intellectual property. The more prepared and organized you are when the buyers show-up to examine your documentation, the less suspicious the buyers are likely to be.

Open Door Policy
The buyers are going to want to obtain as much information about your business as possible before agreeing to purchase it. While you may be tempted to hide any negative factors related to your business, this is not wise. Skeletons in your closet will come out eventually and, if you hid them from the buyer, it can result in very unfavorable consequences. If you are open and honest during the due diligence process, it will make the process go quicker as well as instill confidence.

Boundaries
You want to limit the due diligence procedure to buyers that are serious. Thus, you should only permit buyers who have executed a letter of intent to examine your records. You should also set an agreed “drop-dead” date to avoid wasting the parties’ time and resources. It is also important to designate an individual within your company to handle any inquiries from buyers.

Confidentiality
The due diligence process requires your business to provide a great deal of confidential data to others. Therefore, it is essential that all interested buyers sign a non-disclosure agreement. The agreement should clearly set forth that the use of any proprietary information is limited to the negotiations of the sale and closing the transaction.

The Astill Law Office has provided high quality legal services for over 30 years. We specialize in business formation, wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office.

A personal representative is the individual appointed by the deceased to manage and administer his/her estate. Many people appoint a family member or trusted friend to serve as their personal representative. While this is a good choice for selecting somebody you know you can trust, the person may not have the skills or experience in handling estate administration. Therefore, it is often necessary for a personal representative to retain a knowledgeable lawyer to assist with the various tasks involved in administering the decedent’s probate estate.

The probate process is often complex and time-consuming, especially if there are disputes or difficult legal issues involved. The probate procedure involves many requirements and deadlines, which most non-attorneys are unfamiliar with (even most lawyers are not familiar with this process), and missing a deadline or mis-understanding the process can cause significant issues in a probate case.

A personal representative also has many obligations that must be fulfilled. Having an attorney to advise you of your rights and duties under the law is crucial. A fiduciary duty is imposed upon a personal representative, which also means that you can be held personally liable if you do not act accordingly. A lawyer that is on your side and is focused on protecting you will provide you the peace of mind that the estate is being handled professionally and that your interests are being safeguarded each step of the way.

If you have been appointed to serve as a personal representative and you are not sure where to start, call us for help. The sooner we get involved, the smoother the probate process will go. We will help ensure the case is handled correctly and efficiently.

The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.

One common question our clients ask is whether they should name their revocable living trust as the beneficiary of their 401k or other retirement account. There are several factors that should be considered, including the tax consequences of doing so. The Pension Protection Act of 2005 was passed by Congress providing that a revocable trust is eligible to be the beneficiary of a retirement plan.

The primary benefit of appointing a revocable trust as the beneficiary of your retirement plan is that it provides the ability to control the distribution of the proceeds from the retirement plan when the holder of the account dies. Additionally, it helps you avoid some of the problems that can otherwise arise, including:

• Money held in a retirement account is generally protected from claims by creditors. However, if your retirement account does not have a surviving beneficiary and the default beneficiary is the estate of the account holder, the retirement funds could be vulnerable to claims by the deceased account holder’s creditors.
• When a person is named as the beneficiary and he/she dies before the account holder, it can cause complications that a trust does not have. In fact we can’t predict the result unless we read the account documents, and each one are different.
• Naming an individual as the beneficiary can result in the retirement proceeds ending up in an unintended person’s hands. For example, the named beneficiary could go through a divorce or have creditors trying to collect from him/her. Once your retirement proceeds transfer to the beneficiary, it is subject to attack by creditors and/or a divorcing spouse.
• Retirement account funds left to an estate do not receive favorable IRS treatment and beneficiaries lose important options. If properly drafted, a trust can preserve those options and allows for favorable tax treatment.

If you have a trust and you are considering naming it as the beneficiary of your 401(k), IRA or other retirement account, we can answer your questions. We can also help you create a trust that can protect your assets and ensure that the right people (your loved ones) end up with your estate, and preserve the tax options available to you.

The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.

If you have your own business or you are starting a new company, you may be wondering if you should form a legal entity. The quick answer to this question is usually “yes.” There are several different types of legal structures to consider, each with having its own pros and cons. This blog will focus on limited liability companies, C-corporations and S-corporations.

Limited Liability Company (LLC)
A limited liability company (LLC) is a popular choice for many small or new businesses because it is a cross between a partnership and a corporation. The members of an LLC own and manage the business jointly. The LLC structure allows the members to share in the business’s profits and losses, which can be allocated disproportionately among the owners. Similar to a partnership, the LLC members enjoy pass-through tax treatment.
Similar to a corporation, an LLC is its own, separate legal entity. This is important because it provides limited liability to the owners and protects their personal assets in most lawsuits. However, the protection is limited because in certain situations, such as if fraud has occurred, the members can be held liable

C-Corporation
A C-Corp is a more complex and expensive legal structure. It requires a significant amount of record-keeping and compliance obligations, but it also offers many advantages. A C-Corp is not a pass-through entity for tax purposes, so the entity is taxed separately. Thus, owners are only responsible for paying taxes on money they receive from the entity. The C-Corp structure allows you to create different classes of stock, which means owners can have differing shares with a variety of rights and obligations. This is important for businesses that need to be able to do fundraising to pay the start-up costs and other expenses.

S-Corporation
The S-Corp has many of the same benefits as the corporation. However, the S-Corp is a pass-through entity for tax purposes. Thus, its profits and losses flow directly through the entity to the individual shareholders. The S-Corp is limited to 100 investors, all of which must be individuals and legal residents of the United States. If necessary, a S-Corp can be converted to a C-Corp later on. It shares characteristics of the LLC and the C-Corp.

There are many tax and non-tax reasons to consider forming one entity over another. There is no one-size fits all pattern. Expert help is needed to make these decisions.
Don’t put your business in jeopardy by not selecting the most beneficial legal structure available. The Astill Law Office has provided high quality legal services for over 30 years. We specialize in business formation, wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.

If you have lost a spouse, your world has changed dramatically. With all the changes in your life, it is important to remember that you need to re-examine and update your estate plan. Consider the following steps:

• Take inventory of your assets. You should inventory your assets and determine how they are owned. There are certain assets that you may want to change how they are owned such as those that were owned jointly with your spouse. You may need to change the title to be in your name only or in the name of your trust. If you inherited assets from your spouse in trust, you will want to protect them from creditors by keeping them in trust. You should consult with your estate planning attorney on changes in tax basis for assets you held with your spouse.
• Update your estate plan. Many times, the death of a spouse results in dramatic changes in your finances, which may require your estate plan to be changed. You should also review determine whether you named your spouse as trustee, executor or power of attorney. If so, you should appoint a new person. Additionally, if you remarry, you should update your estate plan to reflect how you want your new spouse and your children to inherit from you.
• Protect your wealth. Even though you may have inherited a certain amount of wealth from your spouse, it is important to protect your finances. It is typically not a good idea to lend money to new love interests or friends, because there are many scam artists who target lonely individuals. You and your spouse worked hard to accumulate your savings, so safeguard your future by conferring with a seasoned estate planning attorney who will help ensure your best interests are protected. If you consider remarriage, only do so with a premarital agreement in place. This can avoid a lot of grief for you and your family.

If you have recently lost a spouse and you are interested in creating a new estate plan or updating an existing one, contact us for the advice and guidance you need. The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.

There are numerous benefits offered by creating an estate plan, but one of the primary goals for many individuals is to help keep the peace in their family after they are gone. Below are a few steps you can follow to help prevent litigation over your estate plan:

• Mental capacity. A common issue that is raised in many lawsuits over estates is whether the decedent had the required mental capacity to execute the documents. If there is any doubt about mental capacity when the estate planning documents are signed, a simple visit to a physician immediately prior to signing the documents to verify the requisite capacity can eliminate this argument.
• Attorneys. Retaining separate lawyers to represent the testator and other family members can prevent an unhappy party from arguing a conflict of interest.
• Executor. If you are concerned that there will be family fighting over your estate, you should consider appointing a professional executor. While this may cost money, it will be worth it if it prevents disputes among your loved ones.
• Disinheritances. If any parties are being disinherited, you must make the disinheritance clear and concise. The wording must make it evident that the disinheritance is intentional. However, a reason should not be given for the disinheritance because this could open the door for the disinherited individual to challenge it.
• Take action. It is important to take action while you are healthy to get your affairs are in order. Creating an estate plan ensures that your wishes are carried out and that your family is protected.

The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.

As medical technology advances, humans are living longer. While this is good news, it does come with a cost. Long term care (“LTC”) is becoming a necessity for most senior citizens and it is very expensive. However, LTC can be a requirement for anyone, at any age, who has been involved in a serious accident. LTC includes all the services that are necessary on a continuous basis to help an individual recover after an injury or illness. In fact, many LTC services are not medical, but they are related to basic personal tasks of everyday life. This includes nursing home care, home health care, respite care and other types of assistance with daily activities.

Due to the costs of LTC, it is vital to know whether your HMO, Medicare or a Medicare Supplement will pay for your LTC. Generally speaking, Medicare pays for some of the costs of skilled care in approved nursing homes or for a short period of home health care for a limited period of time after a stay in the hospital. However, Medicare does not pay for non-skilled assistance with activities of daily life such as eating, bathing, dressing, and other similar necessary activities (except in connection with an illness, and then only for a short period of recovery). A Medicare supplement typically covers your co-payments, deductibles and the services partially covered by Medicare. Most long term expenses are covered by Medicaid, but only if you qualify (meaning you have no assets); otherwise you must pay for these long-term expenses from your own funds.

Understanding the difference between government programs and private financing options for long term care can be confusing. Every type of assistance has its own pros and cons, as well as its own set of rules for eligibility requirements, the services its covers, copayments and premiums. Let us help you understand your available options and create a strategy for covering your LTC expenses.
The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.

All adults should have a living will and/or advanced health care directive so their medical directives will be carried out even if they are unable to communicate them. A living will is a document that allows you to set forth your wishes regarding end-of-life treatment. An advanced health care directive allows you to appoint a trusted family member or friend to make medical decisions for you if you are unable to do so for yourself. In Utah and in many other states the advanced health care directive combines both the appointment of an agent, and your living will. As your life circumstances change, however, it is important to understand that you have the ability to revoke or otherwise alter your health care documents, and you should do so as frequently as necessary.

Revocation
You have the ability to revoke or terminate your advanced health care directive and/or living will. Typically, you can accomplish this by (i) writing “VOID” on the original document, (ii) executing and dating a letter of revocation, (iii) physically destroying the original document, or (iv) by executing a new living will and specifically revoking any prior living wills. If you alter your health care directives, it is imperative that you notify your health care providers and ensure that they update their records accordingly. This is very important in this new digital age where your records may be available across an entire health care system.
You should sign a new advanced health care directive as often as life events dictate. A few examples are:

• Your agent moves out of state or has died or you no longer have a close relationship.
• You are diagnosed with a disease that may require special treatment plans or even a Do Not Resuscitate Order.
• You may now have an adult child who could carry out your wishes.
• You may have remarried after a divorce or loss of a spouse.
• You might have other life events that cause you to consider a change.

Divorce
In Utah, an order of separation, annulment or divorce automatically revokes a living will that designates the former spouse as your health care agent, unless otherwise specified in the decree or you affirm the appointment after the divorce occurs. It is important to update all of your estate planning documents if a separation, annulment or divorce occurs.

Court Intervention
If somebody questions the validity of your living will or the actions of your health care proxy, it is possible for a court to get involved. Typically, judges do not want to make health care decisions. As a result, your documents will likely be upheld unless the objecting party proves you were not of sound mind when you executed them or that your health care agent is not following your wishes.

Death
Your health care documents terminate upon your death. However, other documents containing provisions regarding the disposition of your body are valid and enforced. The disposition of your body is not normally a part of your advanced health care directive.

The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. We provide specific counseling with our clients in regard to Advanced Health Care Directives. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.