OGDEN & SALT LAKE CITY ESTATE PLANNING ATTORNEY
Protect Your Assets and Your Children
An estate comprises of all the things you own. This includes the house you live in, other properties, stocks, bonds and money in the bank. Estate planning occurs in the event of a person who dies either without leaving a valid will or having updated the present one. The laws of succession will often come into play in order to ensure that the surviving dependents get an equal and fair share of the deceased’s property.
With the right kind of knowledge and proactive action, you can avoid such a scenario. Planning for an estate does not have to wait till you are no longer able to do anything and have to depend on others. Ammon Nelson Law, PLLC, provides experienced legal services to assist with estate planning.
A comprehensive plan helps you organize how your estate will be managed, owned and distributed. If you do not take the initiative to plan now, the things you thought would happen to your estate when you are not there will not take place. Your heirs might fight and subdivide the property in other ways. To safeguard this and ensure the family’s prosperity, you need to provide a sense of direction. Save for property, financial instruments require a regular review in order to ensure that they attract the highest earnings you can get.
Planning for an estate takes a systematic approach as shown below:
- Distribution and settlement: There must be a clear plan as to who the executor will be. This is the person responsible for paying debts, identifying heirs and distributing their portion to them.
- Addressing shrinkage: Costs such as debts, administration, legal fees, medical bills and funeral expenses can shrink your estate. You need to address them.
- Liquidity: You can safeguard non-liquid assets by having a fair balance of what is liquid and what is not.
Let Us Handle Complex Family & Financial Situations With Estate Planning
Estate planning is challenging for many people, especially if you have recently lost a loved one or have gone through another traumatic incident. Failure to plan your estate now can cause your loved ones to deal with probate later.
Why choose Ammon Nelson Law, PLLC?
- We have over a decade of family law experience.
- Nominated and awarded “New Parental Defender of the Year” in 2018
- We are in Good Standing at Avvo
- We have a 5 Star Rating on Google
- We are devoted and compassionate legal advocates.
- Wrote “Utah Guide to Divorce”
For your Ogden or Salt Lake City family law needs, contact us today and schedule a consultation