Estate Planning has been a focus of Seal & Kennedy, since the inception of the firm. Our firm has had the opportunity to assist thousands of clients in preparing estate plans tailored for their individual needs. No matter how large or small your estate, it is important to have sound legal advice and assistance in implementing the right estate planning solutions for you.
Standard Estate Planning Documents
Living Trust: Living trusts are typically amendable and revocable, and are a great way for people to provide for their desires for the management, use and distribution of assets during periods of incapacity and at the time of death. In many circumstances, a trust will also enable your family to avoid the need to go through the probate process at your death
Last Wills and Testaments: Wills are another document wherein you can provide for the passing of your assets to the next generation of the family, or to individuals or charities of your choosing. Additionally, parents of minor children can designate who they would like to act as Guardians for any minor children, should both of the parents pass away before the child reaches the age of majority. While this document will let you accomplish some of the things you can do with a trust, and will help transfer your assets in accordance with your desires when you pass away, it will not allow your family to avoid the probate process when you pass away.
Durable General Powers of Attorney: A durable general power of attorney is the document wherein you appoint someone to make financial decisions and take other general action on your behalf, in the event you become incapacitate due to age, illness, or accident.
Limited Powers of Attorney: A limited power of attorney is a document wherein you can grant another person the authority to act on your behalf for a limited or narrow purpose, for things such as selling a home, or accessing a specific bank account.
Living Will: A living will is the document wherein you can express your desire not to be kept alive on life support in the event due to accident, illness, or age, you are in a coma, and it is determined it is unlikely that you will ever recover.
Utah Advance Health Care Directive: The advance health care directive is a Utah form wherein you can appoint an agent to make health care decisions for you, and you can express your desires regarding various health care and end of life issues.
Living Trust: Living trusts are typically amendable and revocable, and are a great way for people to provide for their desires for the management, use and distribution of assets during periods of incapacity and at the time of death. In many circumstances, a trust will also enable your family to avoid the need to go through the probate process at your death
Last Wills and Testaments: Wills are another document wherein you can provide for the passing of your assets to the next generation of the family, or to individuals or charities of your choosing. Additionally, parents of minor children can designate who they would like to act as Guardians for any minor children, should both of the parents pass away before the child reaches the age of majority. While this document will let you accomplish some of the things you can do with a trust, and will help transfer your assets in accordance with your desires when you pass away, it will not allow your family to avoid the probate process when you pass away.
Durable General Powers of Attorney: A durable general power of attorney is the document wherein you appoint someone to make financial decisions and take other general action on your behalf, in the event you become incapacitate due to age, illness, or accident.
Limited Powers of Attorney: A limited power of attorney is a document wherein you can grant another person the authority to act on your behalf for a limited or narrow purpose, for things such as selling a home, or accessing a specific bank account.
Living Will: A living will is the document wherein you can express your desire not to be kept alive on life support in the event due to accident, illness, or age, you are in a coma, and it is determined it is unlikely that you will ever recover.
Utah Advance Health Care Directive: The advance health care directive is a Utah form wherein you can appoint an agent to make health care decisions for you, and you can express your desires regarding various health care and end of life issues.
Specialized Trusts
Credit Shelter Trusts: Credit shelter trusts are specialized trusts that can be used to help maximize the federal estate tax exemption for a married couple.
Life Insurance Trusts: Irrevocable life insurance trusts allow you to to get the proceeds of a life insurance policy out of your taxable estate. These can be especially useful for individuals or families whose assets are valued over the current federal estate tax exemption. There are specific and ongoing requirements that are necessary in order to ensure the trust qualifies for the special tax treatment.
Pet Trusts: Pet trusts allow pet owners to ensure that their pets are taken care of in accordance with their desires, as well as ensure the funds are there to help properly care for the pet after the pet owner passes away. In a pet trust you can provide specific instructions as to care, grooming, diet, and other issues important to many pet owners.
Gun Trusts: Gun trusts can be helpful in owning or transferring firearms to beneficiaries of your choosing. A gun trust lets you provide specific instructions to your trustee regarding firearm related laws and issues, which are unique to transferring firearms to another person at the time of your passing. Gun trusts can also offer other potential benefits as far the purchase, and ownership of certain types of firearms and firearm accessories.
Recreation Trusts: Recreation trusts can be useful tools for families or friends that own cabins, beach houses, or other recreational properties jointly. Recreations trusts can hold the property, and provide for use schedules, buy out provisions, assessments, and many other issues unique to the ownership and use of recreation properties.
Asset Protection Trusts: Asset protections trusts are a specialized trust under Utah law, which allows individuals to shelter and protect some of your assets from future and unknown liabilities.
Charitable Trusts: Allow you to make specific bequests to charities in exchange for receiving certain tax benefits.
All of these trusts are complex and should be used only in certain situations. An attorney should be consulted to help you determine if one or more of these trusts is right for you.
Credit Shelter Trusts: Credit shelter trusts are specialized trusts that can be used to help maximize the federal estate tax exemption for a married couple.
Life Insurance Trusts: Irrevocable life insurance trusts allow you to to get the proceeds of a life insurance policy out of your taxable estate. These can be especially useful for individuals or families whose assets are valued over the current federal estate tax exemption. There are specific and ongoing requirements that are necessary in order to ensure the trust qualifies for the special tax treatment.
Pet Trusts: Pet trusts allow pet owners to ensure that their pets are taken care of in accordance with their desires, as well as ensure the funds are there to help properly care for the pet after the pet owner passes away. In a pet trust you can provide specific instructions as to care, grooming, diet, and other issues important to many pet owners.
Gun Trusts: Gun trusts can be helpful in owning or transferring firearms to beneficiaries of your choosing. A gun trust lets you provide specific instructions to your trustee regarding firearm related laws and issues, which are unique to transferring firearms to another person at the time of your passing. Gun trusts can also offer other potential benefits as far the purchase, and ownership of certain types of firearms and firearm accessories.
Recreation Trusts: Recreation trusts can be useful tools for families or friends that own cabins, beach houses, or other recreational properties jointly. Recreations trusts can hold the property, and provide for use schedules, buy out provisions, assessments, and many other issues unique to the ownership and use of recreation properties.
Asset Protection Trusts: Asset protections trusts are a specialized trust under Utah law, which allows individuals to shelter and protect some of your assets from future and unknown liabilities.
Charitable Trusts: Allow you to make specific bequests to charities in exchange for receiving certain tax benefits.
All of these trusts are complex and should be used only in certain situations. An attorney should be consulted to help you determine if one or more of these trusts is right for you.
