Everyone needs to have a trust or will in place, no matter how wealthy you are! Simply stated, wills and trusts are not just for rich people – they are for anyone who owns property or who has family that they want to protect. We understand that it can be difficult to focus on planning for the future, both because it can be time-consuming to do so and because it can be emotionally difficult to think about your own mortality, but wills and trusts are important. The price for not having these documents in place today is subjecting your loved ones to unnecessary stress and financial hardship if you pass away or become incapacitated tomorrow. Call our Midvale will and trust lawyers today to schedule a free 30 minute consultation and get started getting your affairs in order!

Wills And Trusts Help You Take Care Of Those You Love

Wills and trusts are critical legal tools that make your wishes known and determine what will happen to your hard-earned assets (such as your house) both now and in the future. 

Wills

A will is a legal document that contains your instructions about how your property is to be divided in the event of your death. It can also name guardians for your minor children and leave instructions for how they are to be raised. Wills only go into effect upon your passing.

Trusts

Trusts are legal entities that formally take ownership of your property as soon as they are established and funded. When you create the trust, you name a trustee and set the terms of the trust. The trustee has a fiduciary obligation to manage the assets in the interests of the trust.

Trusts can serve the following purposes:

• Shielding your assets from government aid eligibility, if you need long-term care
• Protecting your assets from creditors, divorce, or other threats
• Helping your estate stay out of probate (a Utah court process)
• Keeping your assets and legal process out of the public record 

Why Do You Need A Will And Trust?

If you die without a will or trust, Utah’s “intestate” laws will determine what happens to your possessions and your family members. It will take a long and expensive court process, but in the end Utah’s laws will have the final say when it comes to who gets what. If you have a will, but no trust, your family will still have to go through the probate process, just according to the terms of your will instead of intestate laws. Probate is notoriously expensive and burdensome. It can result in lawsuits that could further deplete the money you worked hard to leave your family, and they won’t inherit your assets right away. if you become incapacitated during your lifetime, your family won’t know what your wishes were for medical care and may fight over who gets to make the decisions (and what those decisions should be). 

However, if you have a will and a trust drafted by Midvale will and trust lawyers, none of that has to occur. If you become incapacitated, your family will know exactly what to do and will be able to access your financials from the trust. If you pass away, probate won’t have to happen, and they can inherit privately, immediately, and peacefully. 

We Can Personalize Your Will And Trust To Your Exact Needs

There are many different types of wills and trusts to choose from, including:

• A Last will and testament – This legal document states your wishes for your property and minor children after you are gone.
• A Living will – You can dictate the extent of the healthcare that you receive ahead of time for when you can no longer make your wishes known.
• A Revocable living trust – You can create a trust now that receives the property, enabling the estate to avoid probate, and amend the terms of the trust at any point.
• A Special needs trust – You can take care of a loved one with special needs while ensuring that they can still receive government benefits.
• A Charitable trust – The trustee manages the trust for a charitable beneficiary.
• A Medicaid trust – Your assets are protected when you need to qualify for Medicaid to pay for long-term care.
• And more. 

We can advise you as to which type you need! Some people are tempted to save on attorney fees and take a DIY approach by using generic templates or resources they find online, but that will likely end up costing you and your family more in the long run. Besides the fact that internet information may not be correct/up to date/compliant with Utah state laws, you are a unique person with a unique life. You need customized documents that reflect your specific needs and those of your loved ones. At Green Legal Group, our Midvale will and trust lawyers will take the time to get to know you so we can tailor your documents and ensure they will remain effective when you and your family need to use them most. 

Protect Your Family’s Future By Calling Green Legal Group 

Don’t wait – call Green Legal Group today for a free 30 minute consultation and learn more about how we can help. Our Midvale will and trust lawyers have over 15 years of collective experience and can guide you every step of the way to peace of mind and a lasting legacy!