Orem Estate Planning Attorneys Help Protect What’s Yours
Trustworthy strategies for retirement and succession
Residents of the Beehive State have always appreciated the importance of pulling together and planning ahead. At Skabelund Wirig & Loos, our knowledgeable and attentive estate planning lawyers help you do just that. We provide reliable asset protection strategies that preserve more of your wealth to enjoy in your retirement, and we assist in establishing succession plans that help you transfer authority and assets seamlessly at the appropriate time. Estate planning does require a serious contemplation of ultimate issues, which many folks tend to put off. But procrastinating in this essential area of responsibility could put you and your loved ones at an unfortunate and unnecessary disadvantage. On the other hand, talking to a concerned and responsive attorney at our firm can quickly give you the security and peace of mind you need.
Comprehensive estate planning affords considerable protections
At its best, estate planning is a multifaceted approach to personal and financial protection. Our knowledgeable estate planning lawyers design plans to meet your specific needs. Elements of a comprehensive estate plan generally include:
- Last will and testament — Your will is a basic instrument of conveyance that transfers your wealth to loved ones and charitable organizations. Without a valid will, your wealth passes to heirs according to Utah’s laws of inheritance. We help you draft and execute a valid will and update it as your circumstances change.
- Trusts — Trusts are legal entities you create to hold your assets. As the technical owner of your property, the trust provides a wall of protection for your wealth from your creditors and anyone who has a legal claim against you. A trust can exist at the moment you execute the document, or it can spring into being when a triggering event occurs. You can also use trusts to hold assets for your heirs or transfer that wealth to them after your passing.
- Living will — Also called an advance health directive, this document alerts healthcare providers about your preferences for lifesaving interventions. Depending on your overall health and stage of life, you can allow any and all lifesaving measures, accept only medical interventions, or give a strict order forbidding resuscitation.
- Powers of attorney — These documents allow for a voluntary transfer of authority from you, the principal, to a person you trust, your agent. Your agent can then act with legal authority to manage your finances or make decisions for your health and welfare. Powers of attorney can encompass all legal authority or can be limited to matters of finance or medical care.
- Guardianship — If you have minor children, it’s important in your will to designate a legal guardian in the event that your passing leaves your children without a parent. The guardianship cannot be official without court approval, but your recommendation and the would-be guardian’s acceptance can be very persuasive to the court.
- Conservatorship — Often, older adults with diminished capacity resist attempts to assist them via a power of attorney. It can become necessary for a concerned relative to petition the court to grant authority to act on an elder’s behalf. This is an adversarial proceeding, so the elder has a right to appear and oppose the petition. If the court grants the petition, the elder becomes the ward of the petitioner, who has legal authority to act for the elder’s welfare.
- Probate — Although it is not technically part of the planning process, probate concerns what ultimately happens to your estate. Our probate attorneys are meticulous about implementing your succession plan, so your assets are transferred to your heirs with a minimum of delay and expense.
Estate planning is not a one-size-fits-all process. Truly comprehensive protection requires a detailed analysis of your situation and a thorough discussion of your goals for the future. Our knowledgeable attorneys are happy to listen patiently and answer all your questions so we can provide reliable protections that give you peace of mind.
Contact our estate planning lawyers in Orem, UT for attentive legal service
Your future and the security of your loved ones depend on careful planning. Skabelund Wirig & Loos provides trustworthy and attentive counsel for estate planning matters. To speak with a knowledgeable attorney, call 801-788-4447 or contact our Orem office online to schedule a free consultation.