Utah Estate Planning
Estate planning gives you the ability to take great control over your legal, financial and medical affairs, while also controlling what happens to your estate after you die. It can also help you minimize the federal estate taxes your estate owes, allowing you to pass more money on to your heirs. (The state of Utah doesn't currently collect an estate tax.) Talk to an estate planning attorney today to learn how you can benefit from estate planning.
Among the most common estate planning tools and documents:
- The last will and testament: Provides instructions explaining how your assets, real estate and personal property (collectively known as your estate) should be distributed after your death. Also used to name an executor to carry out the instructions in your will and a guardian to raise your minor children.
- The financial power of attorney: Lets you empower an attorney in fact to perform certain legal and financial tasks on your behalf. Becomes null and void upon your death. In Utah, the power of attorney can also be used to temporarily delegate a parent's authority over a minor child to another adult.
- The medical power of attorney: Lets you designate a surrogate whose powers go into effect if you become incapacitated and unable to communicate. Empowers your surrogate to make medical decisions on your behalf.
- The living will: Allows you to explain your end-of-life treatment decisions and wishes.
Do I Need Estate Planning?
Who needs estate planning? Almost everyone who meets the legal requirements to create estate planning documents. By Utah law, you must be at least 18 years old and "of sound mind" (capable of rational decisionmaking) to create any of these estate planning documents.
Estate planning can benefit:
- Parents of young children
- Anyone who owns real estate, has a retirement account or has other possessions of value
- People who provide financial support to loved ones and want to ensure that support continues after passing away
- Business owners
- Those with chronic health conditions that are expected to worsen with time
- People who are concerned about preserving their wealth as they grow older
Find & Hire Local Utah Estate Planning Attorneys
Attorneys.com offers a free service that can help you locate estate planning lawyers and probate attorneys across Utah, including in Salt Lake City, West Valley City, Provo and West Jordan. Complete the form on this page to get matched with an attorney today, or call us at 877-913-7222.