Utah Living Trusts

Morgan & Associates Attorneys at Law

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Utah Living Trusts

Utah Estate Planning & Assistance With Living Trusts


 

Creating a Revocable Living Trust

Revocable Living Trusts, often called a family trust, is a device that allows its creator to pass on property following his or death without the expense and hassle and publicity of the probate court. Generally, the family of a deceased person must hire a lawyer, petition the court, wait for orders from the judge and then file various documents before finally requesting the court to close an estate. The living trust skips this whole process and puts estate administration in the hands of whoever is appointed in the trust. This means much more flexibility for how your money is passed on to your beneficiaries. Sometimes it is not a good idea to distribute large sums of money to unprepared beneficiaries; under the terms of a living trust money can be held for the benefit of children, disabled adults, pets, at risk individuals indefinitely. The trustmaker can decide if there are any conditions on the distribution of money. For example, many trustmakers with young children specify that there descendants must reach a certain age before control of their portion is given to them. Up until this age, an appointed trustee continues to manage the money for their benefit.

While most trustmakers contemplate death when designing their trust, a Utah Living Trust can also provide substantial benefits during lifetime.  When a trust is combined with powers of attorney for finances and healthcare, the living trust can provide for its creator during periods of incapacity without the need for an official court-authorized adult guardianship and the unplanned surrender of assets to a court-appointed conservator. With a properly executed trust plan there is no need for a judge to ever declare a trustmaker “incapacitated.”

The living trust is easy to change, revoke or edit.  Anything inside the trust can be removed at any time until the death or incapacity of its creator. Additionally, a Utah trust can be structured to include stipulations on inheritance such as using inherited money for specific purposes such as education or retirement.  A trust can even be designed to pay out an inheritance only when a person reaches a certain age of maturity or completes designated milestones.

Estate Planning Is Our Specialty At Morgan Law & Associates

Many lawyers offer estate planning services including living trusts, sometimes at “bargain” rates. Do not be fooled. Unlike many attorneys who use fill in the blank forms, we draft unique trusts for every client. This is crucial because many of the form trusts peddled online and by non-specialist attorneys contain provisions that can be harmful rather than helpful to the average person. Furthermore, we are one of the few firms that will help you fund your trust. In order for the living trust plan to work it must be funded with substantially all of your assets. We take the hassle out of transferring your home, bank accounts, and other assets into the trust.  We are Utah’s trust experts, let us design and accomplish your family estate plan.

Learn More About Utah Living Trusts Today: 801-874-5644

 

 


                                                                                                                                                                                                                                                                     

 

 

 


Veterans Benefit Planning Utah Law Firm Morgan & Associates
Sami Draper
Sami Draper
04:17 18 Mar 19
Answers the phone on the weekend and is so willing to help you on their days off. Extremely helpful and friendly.read more
lynn lindstrom
lynn lindstrom
22:45 15 Mar 19
They were kind and helpful explaining every thing helped me with other things I needed done would use them again no problem excellentread more
Charlotte Stock
Charlotte Stock
17:23 01 Feb 19
Christopher Morgan listens closely and is very knowledgeable about Utah law concerning estate planning, health care directives, and wills. I was amazed at his ability to give me the help and advice I needed to be completely satisfied and at peace with every document he made for me. He certainly has my vote of confidence. I highly recommend him to everyone. Charlotte Stockread more
Janelle Wakley
Janelle Wakley
22:23 25 Jan 19
Chris was very helpful when my husband and I had questions about our Medicaid application. He is friendly and professional.read more
Wolfiere Labs
Wolfiere Labs
20:38 25 Jan 19
JoAnna Hall
JoAnna Hall
17:14 21 Dec 18
If you're looking to get your estate planning, trust in order, Chris is the guy!! He is so thorough and explained everything in terms we understand and knows what he is doing! Very pleasant experience and we HIGHLY recommend him! Thanks Chris!read more
Joe Clements
Joe Clements
19:25 05 Dec 18
We needed help with making a Will and Trust. Chris got us in quickly and produced our documents at a super affordable cost! Highly recommend!!read more
Ben Tyler
Ben Tyler
05:57 02 Nov 18
My wife and I hired Chris Morgan to help us with our Estate Planning documents and could not have been more pleased! Chris was responsive to our every need, flexible in his scheduling, patient and clear in educating, sensitive to our interests, and produced a product which far exceeded expectations. But this really didn't surprise me, considering the raving reviews he's received from his clients. With binder of completed documents in hand, my head will rest more comfortably on my pillow tonight. Thank you, Chris, for making our most important priorities your own. We look forward to receiving our first Christmas card :).read more
Bonnie Hill
Bonnie Hill
21:32 31 Jul 18
Chris was really great to work with! On our first meeting he was very knowledgeable and funny and easy to talk to! He explained things and addressed all our concerns and questions. He made things fun and eased any tensions. He seems honest and fair. The best part is that he was willing to come to our home for the meeting. He was easy to work with schedule wise as well. I would definitely recommend Chrisread more