Estate Planning Essentials in Salt Lake City, Utah
What are the essentials when it comes to estate planning in Salt Lake City, Utah? Most individuals will begin by drafting a will that takes inventory of major possessions and takes into account the needs of beneficiaries. Stephen J. Buhler: Attorney at Law in Salt Lake City, Utah is an estate planning lawyer that can help you inventory your real estate, cars, collectibles, antiques, and personal possessions, including prized family heirlooms. Your will should also account for your savings and checking accounts, retirement accounts, stocks, bonds, health accounts, and other investments. Wills should include a list of beneficiaries and clearly state which property and assets go to whom. Once an inventory is made and a list of beneficiaries is drawn out, the estate lawyer at Stephen J. Buhler: Attorney at Law in Salt Lake City, Utah can help you find an estate plan that is right for you and your family. In some cases, a will alone will be sufficient, while in other cases, establishing a trust can have certain tax savings and other benefits. Attorney Steve Buhler will discuss with you what assets will be governed by beneficiary contacts you have already created, and may wish to modify, and which will be governed by your Last Will and Testament.
A will may also include instructions regarding who will be a guardian for your minor children, and, just as important, who you do not want to be their guardian. When making end-of-life planning, individuals may also include a living will as part of their estate plan, which establishes your wishes regarding end-of-life medical care or decisions regarding health care should you become too ill to make those decisions yourself.
While many people are often tempted to draft a will themselves or use a template from the internet, it is important to keep in mind the law and understand that templates do not take into account your financial situation or family arrangements. If you have questions or concerns, aren’t sure whether you should have a will or use a trust, or have concerns that family members might dispute the will after you pass away, you may especially want to consult with an estate planning lawyer in Salt Lake City, Utah like Stephen J. Buhler: Attorney at Law. If you already have a will in place, but would like to have it reviewed by a lawyer, the estate attorney at Stephen J. Buhler: Attorney at Law in Salt Lake City, Utah may be able to help you.