Estate Planning
Guardianship Wills
If you have minor children, a good way to provide for them is to have a guardianship will in place. With a guardianship will, you can designate who you would like to care for your children in the event you pass away. In addition, you can direct that all of your assets are placed in a trust for the care and protection of your children, their schooling, medical, and other expenses.
Guardianships wills are not a long-term estate plan. They are similar to a term-life insurance policy, useful in the event you pass away during your child's minor years, but not designed to accomplish full-scale estate planning goals. If you get a guardianship will, you should plan on replacing it when you no longer have minor children at home, when your assets exceed one million dollars, or when your original plans change based on new circumstances in your life.
Please contact Hepworth Law today with the subject of "Guardianship Will" to start working on providing protection to your children. You can request a questionnaire to get started on the process. Email 801.550.7620
Guardianships wills are not a long-term estate plan. They are similar to a term-life insurance policy, useful in the event you pass away during your child's minor years, but not designed to accomplish full-scale estate planning goals. If you get a guardianship will, you should plan on replacing it when you no longer have minor children at home, when your assets exceed one million dollars, or when your original plans change based on new circumstances in your life.
Please contact Hepworth Law today with the subject of "Guardianship Will" to start working on providing protection to your children. You can request a questionnaire to get started on the process. Email 801.550.7620
Trusts
Give your loved ones a gift, the gift of avoiding probate. With a trust, you can help your loved ones transition faster and easier after your passing by avoiding the need to hire an attorney to probate your estate or having them try to navigate the legal process on their own. Probate is the court process to transfer your assets to another person. A trust avoids probate by granting authority to a trustee, often a child or professional institution, to control or sell the assets in the trust after you pass away.
Please note though, a trust does not avoid probate if you have minor children as the court's involvement is necessary to establish legal guardianship of minor children. A trust also won't avoid probate for any assets not placed into the trust. However, a trust with all assets included in it is a great option for many people, and is a great way to provide some peace of mind and comfort to your loved ones in the time following your passing.
Please contact Hepworth Law today to begin establishing your trust. You can request a questionnaire to get you started on the process of planning your trust.
Email 801.550.7620
Please note though, a trust does not avoid probate if you have minor children as the court's involvement is necessary to establish legal guardianship of minor children. A trust also won't avoid probate for any assets not placed into the trust. However, a trust with all assets included in it is a great option for many people, and is a great way to provide some peace of mind and comfort to your loved ones in the time following your passing.
Please contact Hepworth Law today to begin establishing your trust. You can request a questionnaire to get you started on the process of planning your trust.
Email 801.550.7620
Additional Included Documents
All wills and trusts include a general power of attorney form, an advance health care directive, and a HIPAA waiver to assist in the event of medical or other emergencies.
There is No Better Day to Start than Today
Most people don't like to take the time today to prepare an estate plan, as tomorrow, rather than today, often seems like a better option. However, putting off an estate plan only means putting off the peace of mind that comes knowing that your loved ones are provided for. With an estate plan, you can let your children understand and also have the peace of mind knowing how they are provided for, and you can rest assured each day that you did not procrastinate until it was too late. Good planning brings peace and security. Procrastination only brings regret. Contact Hepworth Law today to start providing security for your loved ones. Email 801.550.7620
