Families & Young Adults
Young Families Estate PlanningThe Time to Plan is Now
Thinking about an estate plan is sometimes the farthest thing from a young adult's mind. After all, it’s reasonable to assume you won’t need to worry about a will and other estate planning tools until you are older. But the truth is, estate planning is just as important for young families as it is for older people.
Estate Planning Lawyers in Salt Lake City, Utah
At Henriksen & Henriksen, we can help you execute an estate plan which will protect you and your family. A well-done estate plan will save your family, beneficiaries and heirs significant time, expense, and hassle in the future.
An estate plan includes more than just a simple will. It may include a trust, power of attorney, and an advanced healthcare directive. We take the time to personalize your estate plan to meet your needs and intent. A properly drafted estate plan from Henriksen & Henriksen can help you and your family to avoid probate, potentially avoid conservatorship and guardianship actions during your life, allow quicker distribution of assets, provide you complete control during your lifetime, lower estate and gift taxes, and save attorneys fees upon your death. We will assist you in setting up the entire estate plan or can help you merely complete one piece of it. We can also help you in changing or amending any of your past estate planning documents
Estate Planning Services We Offer
A legal guardian is a person who has the legal authority (and the corresponding duty) to care for the personal and property interests of another person. Usually, a person has the status of guardian because the ward is incapable of caring for his or her own interests due to infancy, minority, incapacity, or disability. Utah Courts have the power to appoint a guardian for an individual in need of special protection. A Conservator is a person appointed by a court to supervise only the person’s financial affairs. At Henriksen & Henriksen, we can assist you in determining the best option for you and assist you with the complicated legal process to obtain your goal.
Probate is the process carried out in court which transfers the property of a deceased person to their heirs. Ideally, the deceased person will have prepared their estate plan before they pass away, in order to simplify the probating process. In some circumstances, there is no will or trust. In other circumstances, there is a legal challenge to the validity of the estate plan.
At Henriksen Henriksen, we can assist you in the complicated process of probating an estate. We can assure you that your rights and property interests are protected and distributed to you and your family fairly. We handle these types of disputes, and can meet with you to discuss commencing litigation to preserve or defend your rights.
A trust establishes a separate entity somewhat like a corporation that holds and manages all your property. Trusts can be active during your lifetime or they can become active at your death. A revocable living trust is the most commonly used means today for families to protect and control their estate. Since the trust does not die or become incapacitated, no probate is generally necessary to authorize a person to act in the deceased or incapacitated person’s place. With a trust, no court intervention is usually needed. The trust is revocable and can be amended by the settlor during his or her lifetime. At Henriksen Henriksen, we can help you to set up a well-thought-out trust which will protect your property, provide benefits to your children, and save your estate money.
We can also assist the trustees in the administration of a trust.
A Will is a set of instructions as to how you desire your property to be distributed upon your death. The Will includes directions as to who should manage your estate, and who should be the guardian of your minor children. Wills do not generally avoid probate, but rather they plan for probate. Wills only come into effect upon your death and do not provide any protection for you and your family during your life or in the case of incapacity.