Tag Archives: family

Estate Planning

3 Reasons We Avoid Estate Planning

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Most everyone agrees that having an estate plan is extremely important, yet it seems everyone wants to put off doing it. While there are a variety of excuses for why people procrastinate their estate planning even though they acknowledge it could save them significant amounts of money and protect their loved ones, below are three of the most common reasons we hear:

  1. Fear of dying. Nobody enjoys thinking or talking about dying. The topics you must cover in creating an estate plan – from personal finances to the appointment of guardians for your minor children – can be uncomfortable and feel awkward. How to you get past this? Start with something that you feel comfortable with and go from there. This may include scheduling a family meeting, discussing your ideas with loved ones individually, or simply making an appointment with us to learn more. You don’t have to tackle it all at once. Let us help you take it one step at a time.
  2. Emotional upheaval. If your family relationships are strained, the estate planning process can feel stressful. However, if you fail to take action while you are alive to handle matters on your own terms, it can cause even further damage to your loved ones. If you are open and honest with your family members now, it will help them understand your point of view. It also gives you the opportunity to hear what your loved ones have to say and make them feel understood. In short, if everyone knows your true wishes before you are gone, it will prevent disputes from occurring after you are gone.
  3. Fear of losing control over your finances. Many people wrongly believe that they will lose control over their financial security by creating an estate plan. They fear that by placing assets in a trust or gifting away property, they will put their financial future in jeopardy. However, our seasoned estate planning attorneys work hard to create an estate plan that is tailored to fit your needs. We ensure that you are comfortable with your ability to continue to control your finances while also protecting your loved one’s future. We always strive to help you maintain control over your estate and property.

If creating an estate plan is a New Year’s resolution that you haven’t kept yet, maybe it is time to stop procrasting. Take one simple step and contact us to schedule an initial consultation today.

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.

Asset Protection

Talking to your Family about Money

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Many families run like fine-oiled machines when it comes to handling chores, errands and daily activities. However, when it comes to their finances it is an entirely different story. Talking about money is often uncomfortable, but it is also one of the most important things for you to be on the same page about.

Out of convenience, it is common for one family member to be tasked with paying the bills. While this can help keep the process organized, it only works if all family members are abiding by the budget. For example, if one partner is working to save money and maintain a balanced budget and the other partner is spending frivolously, it can lead to financial problems quickly. Resentment and anger over money can lead to fighting and, in extreme cases, it can be a major contributor to divorce.

It is imperative for spouses to communicate openly and honestly about their finances. When your children are old enough, they should play a role in creating a financial plan for the family. Teaching your children about the value of money is a lesson that will benefit them for the rest of their lives. It can be as simple as teaching them to earn an allowance by performing chores or making sure they are aware of what items cost at the store. When you allow your children to take part in financial decisions it helps them feel important while also teaching them how to be financially responsible.

Money management skills are a lifetime gift to your children. When they become adults and you are ready to discuss their inheritance or how you wish for your estate to be administered, it will be a much more comfortable discussion. It can make the estate planning process easier and less stressful when you have your family’s input and support.

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.

Estate Planning

What Your Loved Ones Need to Know About Your Trust

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One of the benefits of a trust is that it allows the creator to keep the contents of it private. If privacy is of upmost importance to you, we can help create a trust with this mind. However, it is also important to provide your loved ones with certain pieces of basic information regarding the trust, including:

  • The individual you appointed to serve as the trustee should be provided all the relevant information regarding where your original trust document is located. If you have stored it in a safe or lockbox, you must inform him or her with the combinations, keys, or other information on how to access it.
  • The individuals appointed to serve as the trustee (or successor trustees) should be provided copies of the trust document.
  • Your trustee and beneficiaries should be given the contact information for your estate planning attorney. Your lawyer can be of great assistance to your family.
  • If you have loved ones that you trust, you should discuss your desires for how your affairs should be handled when you die. Being clear about your decisions and your reasons for making them can decrease confusion and family fighting.

We understand the need to maintain your privacy, but it is also important to make sure that your loved ones have the information necessary to carry out your wishes.

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.

Estate Planning, Uncategorized

Estate Planning: Why are you avoiding it?

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QuestionYou probably understand that having an estate plan is very important, but like most people, you likely think you’ll get to it…eventually. It is normal to have some reservations about estate planning. Below are some of the most common reasons we hear for why our clients have procrastinated in creating their estate plan:

  • Fear of death. None of us like to think about dying. It can be uncomfortable to talk about appointing guardians, personal representatives or trustee. Your loved ones can feel awkward telling you what assets they would like to inherit from you. There is no correct way for having these discussions. As we conduct these types of discussions with clients, it is not unusual for clients to get emotional thinking about the event of death. You should use the approach that works best for you. Just remember that it is better to feel a little uncomfortable but to protect your loved ones and leave them feeling like you cared enough to plan for them, than to leave them resentful that you didn’t take care of matters while you were alive.
  • Fear of emotional upheaval. It can be difficult to deal with highly emotional and stressful situations, especially if you have strained relations with your family members. If you have different goals for your estate plan than your loved ones have, it can cause emotions and tensions to flare. Being forthright with your intentions can allow you to explain what you are trying to accomplish. It also gives you the opportunity to listen to how your loved ones feel. Even if you cannot reach a complete agreement, at least everyone knows where they stand and they are not left wondering. Whether or not to talk to family about your intentions depends on the circumstances. An experienced estate planning attorney can counsel with you on the best approach.
  • Fear of losing control over finances. Some individuals incorrectly believe that they will lose control over their financial security by creating an estate plan. We can help you develop an estate plan that not only makes you feel comfortable with your financial future, but that actually makes you feel more secure. In fact, creating a good estate plan keeps you in control. Instead of a judge deciding who controls your property and assets if you become incapacitated, you get to choose. That keeps you in control.

If you are procrastinating creating an estate plan, don’t delay any longer. Schedule your initial consultation to learn your options and let us eliminate your fears. All of our clients admit that they should have come to see us earlier and that they are relieved that they finally did! We have never had a client feel badly that they completed their estate plan. It is always a big relief, and they are pleased with the process.

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.