Although the living trust is the estate planning vehicle of choice for most of our clients, for those individuals who have modest estates, such as where there is no real estate involved and only a bank and/or savings account and home furnishings, the traditional will may be the better choice.
A will is important at a minimum to designate the individual one wishes to have as executor of his/her estate, to divide the estate among the proper individuals and charities, and leave cherished heirlooms and other personal effects to those persons who will most appreciate them, and also to designate information about how we wish our remains to be handled, burial, cremation, funeral services, etc.
The alternative to not have any will is called intestacy. In most cases, the difficulties posed by intestacy are more costly and pose more problems than a normal administration under a will, so nearly everyone should at a minimum have a will.
To find out about asset protection and estate planning in Utah or if you have any questions about the services we provide, contact us by Phone at (801) 432-8682 or email at email@example.com.