Utah Living Trust Attorney

Do you reside in Utah and have you written a will? Do you know for sure what will happen to your property when you pass away? Have you looked into the advantages, and how they might apply to you, of a living trust? Let us help you with a few of the basics, we then encourage you to visit with a Utah living trust attorney.

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A living trust is a legal entity that is designed to take precedence over your will. Practically everything you own can be placed into your living trust. Your will should be used to handle issues with custody of children and pets as well as any property left out of the trust. When your will has little monetary value it should be granted outside of probate court.

There are two major benefits that have made living trusts so popular recently. Being able to keep your estate out of probate court is the biggest. This could save your beneficiaries great amounts of time and money. Smaller estates may avoid probate with just a will so this would not apply to everyone. Since the laws would be the same in Salt Lake City or Ogden, any Utah living trust attorney, will be able to advise you about probate avoidance.

The other major advantage, again, does not apply to everyone. There are major tax benefits that could be yours by creating a living trust. The only catch is that your estate needs to be worth over two million dollars. If you are fortunate enough to be in this group, you owe it to yourself to discuss this with your attorney.

There are a few lesser known reasons for having a living trust that do not require large estates. A trust can be an effective way of keeping property, owned in other states, out of probate court in those states.

If you worry about your family members fighting over your property when you are gone a trust might be what you need. A will is easily contested while a living trust should be carried out, quickly and precisely, according to your wishes.

If you think a living trust can be effectively used in your estate planning we recommend visiting a couple of websites to learn more. Sites such as Legal Zoom and NOLO will provide valuable information. They can also assist you if you decide that this is something you can do yourself.

There are many laws, rules, and regulations that come into play when you pass away. The larger the value of your estate the more you may be effected. Hiring an attorney for advice about something this important is a good idea. Even if it is just to have your forms looked at by an expert. Living trusts can be complex items to create, and if they are created incorrectly, it could easily end up costing more than it saves. We recommend Legal Match to help you locate a Utah living trust attorney.

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