Blogs

Salt Lake County Probate Lawyers: Avoiding Probate with a Roth IRA

Many people plan for their retirement by using Roth IRAs due to their great tax benefits, but most don’t know that Roth IRAs are also excellent for avoiding probate.

First, here are some basics about tax planning with Roth IRAs that Salt Lake County probate lawyers typically go over with their clients:

Salt Lake City Elder Law Lawyer: 5 Red Flags of Financial Abuse

The elderly are too often targets of unscrupulous individuals who may try to take an unsuspecting senior’s money. Seniors are especially vulnerable as they become less cognitively able and thus more dependent on other adults. Unfortunately, elder financial abuse is common in Utah. Here are some red flags to watch out for with your elderly relative:

Utah Special Needs Lawyer: Special Needs Planning for Divorced Families

When it comes to creating a special needs plan for a loved one with disabilities, it’s the hope that all family members are in agreement and ideally on the same page. But, even if everyone is working together, there can be issues when the parents are divorced. Often, there are separate estates, separate finances, and other factors to consider for both parents when creating trusts and other care plans for children with special needs. By facing the following challenges now, divorced parents have the best chance of creating solid plans for the future:

Salt Lake City Will Lawyer: A Life Estate Can Prevent Your New Spouse and Adult Kids from Fighting Over Your House When You’re Gone

A common concern for those who have remarried is that they still want to leave the bulk of their estate to their adult children without abandoning their current spouse. The solution? Create a life estate. A life estate is a tenancy that allows a person to use a property for the rest of their natural life, but not own the property.

Salt Lake City Probate Lawyer: Can Beneficiaries Demand a Formal Accounting of an Estate?

An estate administrator has a duty to manage the estate and do so in the best interest of the beneficiaries. However, not every administrator acts in good faith, and even when they do, disputes and discrepancies can make a beneficiary want to know exactly where the assets are and where they’re going.

What duty does an administrator owe to the beneficiaries of an estate?

What Happens if I Don’t Have a Will? An Introduction to Utah Intestacy Law

Dying intestate, or without a will, is very common. If you die without a will, your property will go through probate and is then distributed according to Utah’s intestacy laws.
Intestacy laws govern intestate property. They go into effect unless there is a valid will to testify to the deceased’s wishes or an established estate plan. In intestate inheritance, a spouse is first in line, then children, then their children, and so on. When there are no heirs in the direct bloodline, the heirs are the parents, then siblings, then nieces and nephews, and so on.

Preliminary Do’s and Don’ts for Special Needs Planning in Salt Lake County

Special needs planning in Utah can be daunting if you’re just starting. However, a Salt Lake County special needs lawyer can save you the headache of planning and the worry over whether your plan will be executed properly. If you’re new to special needs planning and aren’t sure where to start, check out these do’s and don’ts for starting estate planning for your child with disabilities.

Salt Lake City Probate Lawyer: The Person Who Provides for You Suddenly Dies. What Happens to You?

When the primary breadwinner dies, his or her surviving spouse, domestic partner and minor children can find themselves without the necessary resources to maintain their current lifestyle. If you find yourself in this position, you do have options.

Keep it in the Family: Salt Lake City Estate Planning and Family Businesses

Giving your children and grandchildren the legacy and pride of a family business can keep your nose to the grindstone for decades. Financial security, family harmony, and growing wealth together are some of the benefits of a family business. Legacies are meant to outlive the legacy makers. If you’re a business owner in Utah, don’t hesitate to consult an estate lawyer to help you plan for the future.

The End of Solvent Trap Adapters?

We’re often asked about using a solvent trap adapter as a substitute for buying a suppressor from a dealer.

The person asking the question is often interested in avoiding the wait time on a Form 1 or Form 4 application and in saving the $200 tax involved with those applications. We advise folks that they should not even consider it without an approved Form 1 in hand, but would be better off looking at a good commercial silencer in the first place.