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| Phillip G. Gubler and Thomas J. Bayles, Attorneys at Law |
Many people have a misconception
about estate planning. For example, many
will avoid doing their estate planning because they believe their assets
“aren’t worth much” and think estate planning would be a waste of time and
money. The reality is that estate
planning is necessary for everyone -- no matter the value of their assets. Completing your estate planning now with an attorney
that regularly practices in the estate planning area to clearly define your
intentions is an investment which will likely save your family financial and
emotional heartache in the future.
While you may want to live
forever, there is a strong likelihood that you will not make it out of this
life alive. Estate planning allows you
to clarify what is to happen with your assets once you have passed away. As you think about your estate planning there
are a few things to consider: 1) Beneficiaries
who will receive assets from you, i.e., spouse, children, other close family
members and friends, or charities; 2) Property that will be affected by the
planning, such as real property, family business, personal property, as well as
financial accounts and investments; and 3) Distribution of the properties to
the beneficiaries.
The decisions made in the estate
planning process are very important, and it is essential that the attorney you
work with has experience drafting trusts, wills and related documents in order
to properly plan with the least risk of contention at death. The experience an attorney gains through
continued work in the estate planning area will help that same attorney provide
specialized solutions for the client’s planning goals. Several years ago, I read an Associated Press
article about United States Supreme Court Chief Justice Warren Berger and the
problems he left behind because he wrote his own Will. The point in bringing this up is not to
disparage the Chief Justice who was a renowned jurist and a smart attorney, but
to point out that even a smart attorney who does not regularly practice in the
estate planning area should seek competent assistance from an attorney who
does.
A
qualified estate planning attorney can help guide you through the estate
planning process and avoid the pitfalls of ambiguous language and
directions. Whether you want to divide
your estate equally between beneficiaries or leave a little something extra to
someone special, your estate planning attorney can craft documents allowing you
to be as creative as you wish -- while adhering to the basics of what is
required and making sure you are clear in your directions. The last thing you
want to leave is a legacy of internal strife among family members who challenge
your estate planning documents.
JensenBayles, LLP provides a
broad spectrum of legal services. Thomas
J. Bayles has been actively providing advice in the areas of trusts, wills,
probate and tax planning in the St. George market for over 15 years. Please
visit our web site www.jensenbayles.com or call 435-674-9718 and ask
for Thomas J. Bayles or Phillip G. Gubler. The information in this
article is for educational purposes only and is not intended to be construed as
legal advice.
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