Ticking Time Bombs in Estate Planning…
Finally, the weather is starting to look better here in Utah. We’ve had so much snow this winter season that I’m glad that we have finally started to see the sun and the warming temperatures. It’s not that I hate the snow, I love snow… it’s just after a while, I want the sun back. You understand.
Well, this month, we’re going to review some of the ticking time bombs in estate planning. Things that need to get done that we often either forget to do or wait until it is too late to do them.
Last Will and Testament
I can’t tell you how many people I have met with over the years who are truly interested in having their will drafted and simply never get around to doing it. It is simply not urgent to them, so they put it on the back burner. They ignore it because there are so many other things to do in life, and preparing your last will and testament with your lawyer is not the most fun and entertaining thing to do in your life.
Look, I get it. I have three little kids and I know how quickly life can slip by as we act as parents and take care of our families and our friends. I know that there are more urgent things in life. But I dare you to ask yourself the question: is there something more important than your family? If you, like me, love your family so much that you want to spend time with them and enjoy being around them, then you should take a little time to properly prepare your estate.
You don’t have to spend 20+ hours on this because I do most of the work for you. Let me tell you what this looks like. You come into my office for a free consultation. There is no obligation at all. In fact, I usually do the last will and testament for free if you need a trust and decide to get a trust. If you don’t, that’s fine, no worries.
Nicole is our receptionist and front office coordinator. When you call our office, she is usually the one who will schedule your appointment to meet with me in person for no charge. If you’d rather do your first meeting over the phone, I can do that too. When we talk, we’ll discuss your current plan (if you have one) and how we can help you take care of your family, your pets, your loved ones, or your favorite charities. We can even create your own charity if you want to. That’s always fun.
After we’ve gone over your goals and how you want things to be, we’ll get specific information from you. We’ll get your full name, correct spelling, and we’ll get other vital information so that we can prepare your last will and testament correctly. We’ll also discuss other legal documents like a health care directive (also called a living will or a health care power of attorney) and what a general power of attorney is. We’ll talk about your life plan, and what documents you need and what you don’t need.
If you have a taxable estate, we’ll discuss how to reduce or eliminate your estate taxes, if possible. We’ll talk about gifting and what steps to take if you want to do that. We’ll even talk about your pets and how you can protect them if you’d like. I promise you a fun and pleasant experience and a friendship you can enjoy for life.
After our pleasant conversation, you’ll know where you stand, what you need to do, and how much it will cost. We’ll then be able to stop this ticking time bomb from going off.
A Recent “Time Bomb” Explosion For My Client
A client of mine recently had a “time bomb” explosion happen because his parents died without a will and a fight over property, money and other financial assets happened shortly after their death. It breaks my heart to see families get into fights after a loved one’s passing simply because someone never got around to getting that last will and testament done.
Don’t Wait Until It’s Too Late
You don’t need to wait until it’s too late and the “time bomb” goes off. Now is the time to get your will done once and for all.
If you are ready, please call now and schedule your complementary appointment at 801-676-5506.
Estate Planning Today Monthly Newsletter is written by Michael Anderson, Attorney and Counselor at Law. This newsletter is published as a service of the Law Offices of Ascent Law, LLC, 8833 S Redwood Rd Ste C • West Jordan, Utah 84088. Phone 801-676-5507; Fax: 801-676-5508. This information is for general informational purposes only and does not constitute legal advice. For specific questions you should consult a qualified attorney. © 2016