Estate Planning Attorneys Ogden UT

Stevenson Smith Hood Knudson

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The older that you get, the more important that it is to think about writing up a will. But what happens when someone dies without a will? Wills are important documents that designate where the possessions of someone will go after they die. Wills create autonomy and allow for people to have greater control over their assets, even after their death. We will be diving into wills and what not having a will at the time of death will mean in the following article.

What Is A Will?

what happens when someone dies without a will

Before we can get into what happens when someone dies without a will, we must discuss what a will is. As previously mentioned, a will is a document that designates where the possessions of a person will be distributed after their death. A will can designate who different possessions will go to including family members, friends or charities. However, wills also have other purposes. The name of a will executor can be listed in a will, specific accommodations can be made for minor children, children with disabilities, and pets, and debts can be taken care of with a will.

What Happens When Someone Dies Without A Will?

Now the question of what happens when someone dies without a will can be answered. When someone dies without having a will, none of the potential heirs will have any rights to or say over the person’s estate. The property will then have to go through the probate process. The probate process involves the estate going through probate courts where the courts will decide how the property will be distributed. The probate process can be very complicated taking months or even years to complete. The legal fees to go through the probate process are typically very costly and are paid out of the estate.

How Is An Estate Distributed Without A Will?

You may ask how a person’s estate will be distributed without a will. Different states have different laws as to how they deal with probate distribution, but typically the property will be split between the surviving spouse and any children. The reason why a will is important is because people may have other individuals that they would like their property to be inherited by. If the person does not have any living spouse or children, the courts will decide to which relatives an estate will go to. Typically charities, unmarried partners, and friends do not receive any inheritance if a person dies without a will.

When To Write A Will

It is now obvious that writing a will is important. Many adults may not think that they need a will because they are years away from probate. However, it is never too early to prepare. In most states, individuals can write their first will when they are 18 years old. Times when you may want to update or consider getting a will may include when you purchase large assets, get married, or have children. The later in life that a person is, the more crucial a will becomes.

Do You Need Help Writing Up A Will?

If you or a family member needs help writing up a will, it is important to reach out to an experienced and knowledgeable probate attorney. We at Stevenson, Smith, Hood, & Knudsen offer expert options when it comes to writing a will and other probate documents. We also are well-versed in probate court. So if a family member’s estate is moving through probate, we can offer legal advice and assistance. If you would like to get in contact with of one of our attorneys or would like to begin writing your will, feel free to reach out to us at Stevenson, Smith, Hood, & Knudsen today. 

Filed Under: Estate Planning, Wills Tagged With: create an estate plan, estate planning, what is a will?, wills

Death is a topic that is often paired with feelings of dread, mourning, and sadness. Death can be difficult to come to terms with, whether you have lost someone close to you or you are personally nearing the end of your days. However, there is something beautiful about remembering someone and celebrating their life. Funerals can be a difficult time for those who were close to the celebrated individual, so it is extremely important to plan for a funeral ahead of time. For some tips to help make funeral planning easier, continue reading.

Why Funeral Planning Is Important

funeral planning

In wake of a friend or family member’s death, it falls to the family to take care of funeral planning. It is a sensitive and confusing time following the death of a loved one, making it difficult to make plans for a funeral. The cost of a funeral also increases all the time, so making the preparations in advance can greatly decrease the financial and emotional burden that will be on the family. That is why it is vital to make these plans ahead of time.

Make Your Wishes Known

There are circumstances where individuals pass unexpectedly, however, most of the time people have some understanding of when their time may come. It is vital to make sure that your opinions regarding your funeral are heard. Many families will be unsure of what to do, and so they will just get the best of the best for everything. Others may choose only the least expensive options. You may not want or need such accommodations, or you may want something less traditional for your funeral. 

Consider Your Options

There are many options to consider when it comes to funeral planning. Most of the time, plans are made with an estate planner (or funeral planner) and a funeral package is purchased. There are options for different funeral packages that can be paid before an individual passes. One option is to buy a life insurance policy with a funeral home named as the beneficiary and another option is to make payments for a funeral over many months and years. 

Another approach is to set funds aside for your funeral in a Funeral Trust. A Funeral Trust is funded by life insurance and can earn interest over time. A funeral trust makes it possible to set aside funds and then have a funeral at any funeral home, unlike the other options which require that you have your funeral at a certain funeral home. Also, any money that is left in the funeral trust after the funeral will be added to the person’s estate and given to the beneficiaries. At Stevenson Smith Hood Knudson, P.C., we can help you evaluate these different options.

Speak With A Professional

Our last recommendation for funeral planning is to speak with a professional. While all the tips in the world can get you started with funeral planning, speaking with a funeral planning professional and an estate lawyer can make the process move more smoothly. Not only can they give you information as to what will help make your funeral planning process easier for your family, but they can also help you create the plan. An estate lawyer can also help you find out what will work best for your personal financial situation.

Need Help With Your Estate Or Funeral Planning?

While it may be a bit scary to think about at first, making decisions regarding your funeral can bring feelings of control and comfort. Having a funeral plan will also help your family and friends in a very difficult time. Knowing that things will be taken care of in an efficient and economical manner after your passing can be a peaceful feeling. 

Stevenson Smith Hood Knudson, P.C. offers estate planning services to help make your life and lives of your family members much easier. If you want to start the funeral planning process, we would be happy to be of service. Reach out to us today with any questions.

Filed Under: Estate Planning, Wills Tagged With: estate planning, funeral planning

Most of us assume marriage is a lifelong commitment. Unfortunately, about 50% of the marriages that are entered into these days end in divorce. Divorce can be a messy process for everyone, especially if there are children involved. Divorce can have a significant and lasting effect on a person’s future and the future of their estate. The impact of divorce on your estate plan is often something that is overlooked during the divorce proceedings. While more immediate matters may consume energy and attention during a divorce, it is important to make certain considerations and legal updates if you are contemplating divorce or have divorced.

The Impact Of Divorce On Your Estate Plan

As previously stated, divorce is not an uncommon occurrence. Divorce is the termination of a marriage contract between two individuals. Namely, divorce gives the two individuals the legal ability to marry other people, divides the couple’s assets, and outlines the details of the care and custody of any minor children. Following a divorce, there are numerous results that will come about, some contemplated and some less obvious.

The Impact Of Divorce On Your Estate Plan

Upon entry of a divorce decree, Utah law typically revokes nomination of your former spouse or his/her family members to act as your trustee, executor, or agent. However, if you pass away after a divorce, your former spouse will most likely become the primary guardian of your minor children. However, in rare circumstances your former spouse may not be suitable to become a primary custodian. In those cases, it is important that you have worked with your attorney to make sure that someone suitable is appointed to be your children’s guardian. If you have an estate plan that nominates a guardian in the event both you and your spouse die, after a divorce it is critical to review that plan to ensure that guardian is still your preferred nominee.

Under Utah law, in most circumstances a divorce revokes any disposition of property to your former spouse from your will or trust. However, it is important to keep in mind that if you leave your assets to your minor children outright your former spouse will likely have control over those assets. Every situation is different, and perhaps you would not want your former spouse to have control over the assets that are for your children. That is why it is important to make legal arrangements for your assets after a divorce, particularly if your children or beneficiaries are minors.

Review Your Will and Trust

It is important to note that if you do not make the appropriate changes to your estate and will, there could be several potential consequences. There are several important questions that you will need to ask yourself regarding your will and trust. You should ask yourself who is designated as the trustee of your trust, who is the executor of your will, and who is the agent under your property and health care powers of attorney. In many states, if your spouse was listed as any of these designations and you got a divorce, they would no longer qualify to be beneficiary. If you did not name a successor to your spouse, it may be that no one is designated to act as your trustee, executor, or agent. These laws differ by state. hence, it is important to check your designations, and change and update them as necessary.

Review Beneficiary Designations

In addition to reviewing your will and trust, soon after your divorce update your beneficiary designations for assets such as life insurance policies, stocks, and bonds. Utah law provides that a divorce can revoke these designations, but you should notify policy administrators and advisors of your changed marital status. You may have to leave your ex-spouse as a beneficiary for some of these assets if the divorce decree requires. You will need to look at your divorce decree and consult with your attorney to make this determination.

Do You Need A Estate Planning Attorney?

If you have recently divorced or are currently going through a difficult divorce process, it is important to consider your assets and estate. It is vital to hire an estate planning attorney in order to protect your future, your assets, and your heirs. Reach out to us at Stevenson Smith Hood Knudson to get in touch with an experienced attorney. We look forward to helping you assess your estate plan.

Filed Under: Estate Planning, Trusts, Wills Tagged With: divorce, estate planning, impact of divorce on your estate plan

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