Probate Lawyer Provo Utah

Probate Lawyer Provo Utah

We are what we own. However when the times comes to go, we have to leave our possessions behind and go. What happens to our possession after we are dead? Do our family members get to enjoy them? It all depends on what planning you did during your life time. Speak to an experienced Provo Utah probate lawyer to know how you can ensure that your family members get to enjoy your assets after your death.

When you die, the law of Utah, the state where you live—your legal residence—provides that ownership of all your assets is transferred to your estate. This transfer is automatic; there is nothing you can do about it (except to give some of your assets away prior to death so that the estate will be smaller). Your estate is a fictitious person, more or less like a corporation. The next step, established by law, is that someone—the “executor” of the estate—is required by law to write the checks to pay your debts and taxes and to transfer the legal titles to the assets that are now in your estate to the individuals and charities that you have designated. The transfer of the assets will follow the terms of your will—if you have one. If you don’t have a will, then the transfer will follow the procedures in the state of Utah where you had your legal domicile.

Perhaps the most basic distinction is between real property and personal property. Real property is land and things permanently attached to the land. (Thus the origin of terms such as “real estate” and “Realtor.”) Personal property is everything else. Furniture, jewelry, and cars are personal property, but so are intangibles such as copyrights, patents, promissory notes, and stocks and bonds. Some types of property present difficult definitional issues–growing crops are sometimes real property, sometimes personal property–but for the most part the distinction between real and personal property is easy to understand.

There is perhaps nothing more difficult than to give a precise and consistent meaning to the word ‘property’. The word ‘estate’ is often used to denote the whole of a man’s proprietary rights, more especially after his death. This sense of the word ‘estate’ must not be confused with the special meaning which it has in regard to interests in land. When we speak of a man of property, we may perhaps think in one of two ways. First, we may think of the traditional or even old-fashioned type of man with tangible material things which belong to him–land and houses, horses and cattle, furniture and jewelry and pictures– things which he may use or destroy (so far as that is physically possible); from which he may exclude others; which he may sell or give away or bequeath; which, if he has made no disposition of them, will pass on his death to persons related to him. Alternatively we may think of the more modern figure of a man whose wealth lies in his investments in stocks and shares. Whichever type of man we think of, we may find it difficult to say whether by ‘property’ we mean the things themselves or the aggregate of rights which are exercised over them. To confine the word to either sense would hardly be possible without pedantry; though on the one hand we may agree that a thing which has no owner–a rare event in a civilized country, except in the case of a few things, like wild animals at large–is not property, and on the other we may often avoid confusion by using the word ‘ownership’ for the most extensive right which a man can have over material things. But, further, we shall find that our conception of property relates to many things which are not tangible or material. Our man of property may be an author or a patentee, and we shall hardly be able to say that his copyright or patent right is not part of his property, or even to avoid speaking of his ownership of the copyright or patent. He will have debtors: his bank is a debtor to him for the amount standing to his credit; his investments of money are claims to receive payment from the State or from corporations or individuals. Such debts and claims are not rights over any specific tangible objects; they are mere rights against the State or the corporation or the person liable to pay. Yet these rights are transferable, and will pass on his death to his representatives.

We cannot exclude them from our notion of property or deny that in a sense, at any rate, he is the owner of them. On the other hand his ‘property’ clearly does not include all his rights. To say nothing of his general right of liberty or reputation, his rights as a husband or a parent are not proprietary rights, nor is his right to recover damages for personal injury or defamation; but we may include among proprietary rights the right to recover damages though unliquidated (i.e. of uncertain amount until settled by a judge or jury) for breach of contract, or probably even for injury to his property. Generally speaking we shall include under the notion of a man’s property in its widest sense all rights which are capable of being transferred to others, of being made available for payment of his debts, or of passing to his representatives on his death.

Ownership and possession

Turning to rights over tangible things, we must notice the distinction between ownership and possession. The owner of a thing is the person who has, in the fullest degree, those rights of use and enjoyment, of destruction, and of disposition, which have been mentioned above–subject of course to the general rules of law which protect the rights of others, to certain limited rights which he or his predecessors may have created in favor of others, and in the case of land to rules imposed by statute under which local and other authorities may purchase property compulsorily. The owner of a firearm is none the less owner because the law prohibits him from discharging it in a public highway; the owner of a field does not cease to be owner because the public or a neighbor has the right to use a footpath across it.

The main goals of estate planning are to ensure that the individual’s wishes are carried out, to minimize problems for the survivors, and to reduce estate taxes. The legal documents used to accomplish these goals include a durable power of attorney, a will, and, for some patients, a trust. Estate planning usually requires the services of an expert – an experienced Provo Utah probate lawyer.

You’ve worked hard all your life for your money, and you’ve worked hard at taking care of it. But do you really know what will happen to what you’ve accumulated after you die?

The fact is, if you don’t plan properly now, your estate could be eroded by estate taxes. And subjecting your estate to probate – the legal process through which the court ensures that upon your death, your debts are paid and your property is distributed according to your will – may mean additional costs and delays in transferring assets to your heirs. So, if you want your estate to go to your heirs instead of to the IRS, plan carefully now.

There are three main objectives of estate planning. The first is to reduce estate expenses and taxes. The next objective is to make provisions in advance for meeting these expenses so that your estate is not forced to liquidate assets at a distress price. The third objective of estate planning is to ensure that the remaining assets are distributed to your heirs in orderly manner and according to your wishes. Estate planning is essential since the first payments made from an estate are for estate expenses and estate taxes; your heirs actually receive what is left.
Many people believe a will is the best way to plan for the distribution of their estates, but this is not always true. A will does not avoid probate, and, because a will can go into effect only after you die, it provides no protection for you and your heirs if you become disabled.

What is so bad about probate?

The probate process can be an expensive and time-consuming process, depending on the state where you live. Probate costs, which must be paid from your estate before anything can go to your heirs, are generally estimated at 5 percent of an individual’s gross estate value and can be even higher in some cases. The probate process can take at least one to two years.

During probate your family loses control of your estate, as well as privacy. The probate process – not your family – has control, and your assets may be tied up until this process is completed. Additionally, probate fields are open to the public, so anyone can get information about your assets and liabilities.

Fortunately, there is an alternative to wills and probate. It’s call the revocable living trust. It avoids probate and ensures your estate plan won’t be altered by the court or legal technicalities in the event of your death or disability.

What is a living trust?

If you establish a trust during your lifetime, it is calling “living” trust. It’s a legal document similar to a will but offers much more. When you set up a living trust, you simply transfer most of your assets from your individual name to the name of your trust, which you control. Since there is no probate process with a living trust, upon your death, your assets are transferred to your heirs. All expensive court proceedings and delays are eliminated, your privacy is preserved, and the emotional stress on your family is minimized.

If you have a modest estate and your trust is fairly simple, you may be just fine as your own trustee. But if your estate is larger, has a variety of assets or requires tax planning, you should probably consider having a professional trustee involved.

Most people select a corporate trustee as their successor or co- trustee, especially if they don’t have the time, ability or desire to manage their own trust, or if one or both spouses are in declining health. Corporate trustees are in the business of managing trusts – they’re experienced investment managers and trained to be objective. their fees are generally competitive and if something happens to you, your corporate trustee will continue to manage your trust for you according to your instructions. If you and your spouse are co-trustees, either can act and instantly take control if one becomes disabled or dies.

If you die or become incapacitated, or if you are the only trustee, the trustee you selected can automatically step in and take over for you. This successor trustee looks after your care and manages your financial affairs for as long as necessary, using your assets to pay your expenses.

How is a living trust established?

You make the basic planning decision – inventory your property, decide who will be your beneficiaries, select your successor trustee, name a trustee and guardian for minor children, etc. Your attorney then prepares the actual legal document that addressed your specific needs. You sign the trust document, it is notarized, and then you change most of your property titles to reflect the name of your trust. You should also change beneficiary designations on appropriate assets.

Speak to an experienced Provo Utah probate lawyer

Seek an appointment with an experienced Provo Utah probate lawyer today to know how you can develop an estate planning device that can help your family members enjoy your assets without having to go through probate. Sometimes, your best option may be a will. Every will in Utah must pass through probate. An experienced Provo Utah probate lawyer can help you get a will probated.

Provo Utah Probate Attorney Free Consultation

When you need legal help with a case about probate in Provo Utah, please call Ascent Law LLC (801) 676-5506 for your Free Consultation. We do probate, estate planning, estate representation, estate administration, last will and testaments, powers of attorney, health care directives and so much more. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States

Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews


Recent Posts

Can I Look Up Probate Records

Criminal Defense Lawyer Lindon Utah

Parental Kidnapping

Timeshare Law

Domestic Partnership Law

How Much Is A Divorce After 5 Years Of Separation?

Ascent Law LLC St. George Utah Office

Ascent Law LLC Ogden Utah Office

Provo, Utah

 

From Wikipedia, the free encyclopedia
 
Provo, Utah
City of Provo
Downtown Provo

Downtown Provo
Motto: 

“Welcome Home”
Location within Utah County

Location within Utah County
Provo is located in Utah

Provo
Provo
Location within Utah

Coordinates: 40°14′40″N 111°39′39″WCoordinates40°14′40″N 111°39′39″W
Country  United States
State  Utah
County Utah
Founded 1849
Incorporated April 1850
Named for Étienne Provost[1]
Government

 
 • Type Strong mayor
 • Mayor Michelle Kaufusi (R)
 • Council Chair David Harding
Area

 • City 44.19 sq mi (114.44 km2)
 • Land 41.69 sq mi (107.97 km2)
 • Water 2.50 sq mi (6.47 km2)
Elevation

 
4,551 ft (1,387 m)
Population

 • City 115,162
 • Density 2,762.34/sq mi (1,066.61/km2)
 • Metro

 
620,000
Time zone UTC−7 (Mountain (MST))
 • Summer (DST) UTC−6 (MDT)
ZIP Codes
84601-84606
Area codes 385, 801
FIPS code 49-62470[5]
GNIS ID 1444661[6]
Website www.provo.org

Provo (/ˈprv/ PROH-voh) is the fourth-largest city in UtahUnited States. It is 43 miles (69 km) south of Salt Lake City along the Wasatch Front. Provo is the largest city and county seat of Utah County and is home to Brigham Young University (BYU).[7]

Provo lies between the cities of Orem to the north and Springville to the south. With a population at the 2020 census of 115,162.[3] Provo is the principal city in the Provo-Orem metropolitan area, which had a population of 526,810 at the 2010 census.[8] It is Utah’s second-largest metropolitan area after Salt Lake City.

Provo is the home to Brigham Young University, a private higher education institution operated by The Church of Jesus Christ of Latter-day Saints (LDS Church). Provo also has the LDS Church’s largest Missionary Training Center (MTC). The city is a focus area for technology development in Utah, with several billion-dollar startups.[9] The city’s Peaks Ice Arena was a venue for the Salt Lake City Winter Olympics in 2002Sundance Resort is 13 miles (21 km) northeast, up Provo Canyon.

In 2015, Forbes cited Provo among the “Best Small And Medium-Size Cities For Jobs,”[10] and the Bureau of Labor Statistics found Utah County had the year’s highest job growth.[11] In 2013, Forbes ranked Provo the No. 2 city on its list of Best Places for Business and Careers.[12] Provo was ranked first for community optimism (2012)[13] and first in health/well-being (2014).[14]

Provo, Utah

About Provo, Utah

Bus Stops in Provo, Utah to Ascent Law LLC

Bus Stop in Greyhound: Bus Stop Provo, Utah to Ascent Law LLC

Bus Stop in BYU South Campus Station Provo, Utah to Ascent Law LLC

Bus Stop in Provo Central Station (Bay D) Provo, Utah to Ascent Law LLC

Bus Stop in 300 S / 600 E (WB) Provo, Utah to Ascent Law LLC

Bus Stop in Joaquin Station Provo, Utah to Ascent Law LLC

Bus Stop in 500 w @ 852 N Provo, Utah to Ascent Law LLC

Bus Stop in 2230 North Station Provo, Utah to Ascent Law LLC

Bus Stop in State St @ 2051 S Provo, Utah to Ascent Law LLC

Bus Stop in BYU North Campus Station Provo, Utah to Ascent Law LLC

Bus Stop in Center Street Station Provo, Utah to Ascent Law LLC

Bus Stop in State St @ 1460 N Provo, Utah to Ascent Law LLC

Bus Stop in BYU Stadium Station Provo, Utah to Ascent Law LLC

Map of Provo, Utah

Driving Directions in Provo, Utah to Ascent Law LLC

Driving Directions from Provo Marriott Hotel & Conference Center to Provo, Utah

Driving Directions from SpringHill Suites by Marriott Provo to Provo, Utah

Driving Directions from Hampton Inn Provo to Provo, Utah

Driving Directions from La Quinta Inns & Suites by Wyndham Orem University Pwy/Provo to Provo, Utah

Driving Directions from Utah Valley University to Provo, Utah

Driving Directions from Baymont by Wyndham Provo River to Provo, Utah

Driving Directions from Little Suites Provo Extended Stay to Provo, Utah

Driving Directions from BYU School of Accountancy to Provo, Utah

Driving Directions from Sleep Inn Provo near University to Provo, Utah

Driving Directions from Holiday Inn Express & Suites Orem-North Provo, an IHG Hotel to Provo, Utah

Driving Directions from Timpview High School to Provo, Utah

Driving Directions from College of Nursing to Provo, Utah

Reviews for Ascent Law LLC Provo, Utah

Ascent Law LLC Reviews

John Logan

starstarstarstarstar (5)

We've gotten divorce and child custody work from Ascent Law since the beginning because of my ex. We love this divorce firm! Staff is gentle, friendly and skilled. Tanya knows her stuff. Nicole is good and Ryan is fun. Really, all the staff here are careful, kind and flexible. They always answer all my questions, explain what they're doing and provide great legal services. I personally think they are the best for divorce in Utah.

Ascent Law LLC Reviews

Jacqueline Hunting

starstarstarstarstar (5)

I have had an excellent experience with Ascent Law, Michael Reed is an absolutely incredible attorney. He is 100% honest and straight forward through the entire legal process of things, he also has a wonderful approach to helping better understand certain agreements, rights, and legal standing of matters, to where it was easy to know whats going on the entire process. I appreciate the competency, genuine effort put forth, and assistance I received from Ascent and attorney Michael Reed, and I will be calling these guys if ever I have the need again for their legal assistance! 5star review Wonderful attorneys!

Ascent Law LLC Reviews

Anthony Ziegler

starstarstarstarstar (5)

This review is well deserved for Ryan and Josh. New clients should know they are worth the 5 star rating we give them. We needed 2 sessions from them because of the complexity of the matter, but they are both very passionate about his helping others in need.  My sister needed bankruptcy and I needed divorce.  Sometimes they go hand in hand but a large shout out to this team - also Nicole is one of the sweetest people you ever did meet - she offered me warm cookies!

Ascent Law LLC Reviews

Thomas Parkin

starstarstarstarstar (5)

Mike Anderson and his colleagues & staff are knowledgeable, attentive and caring. In a difficult and complex case that eventually went to trial, Mike was the voice of reason and the confidence I needed. His courtroom abilities are amazing and I felt his defense of me was incredible. His quick thinking and expertise allowed for a positive result when I felt the World was crumbling. His compassion, after the case, has helped me return to a good life. I trust Mike and his staff. They are friendly and very good at what they do.

Ascent Law LLC Reviews

Yeran Merry

starstarstarstarstar (5)

I worked with Attorney Alex and Paralegal Ami in my divorce case. I got to know the team very well over the course of two years. I cannot think of a better team to have worked with. Ami and Alex are not only exceptional law professions who are very knowledgeable and thorough, they are also the best human beings who empathize with the emotions I was experiencing. Alex was conscious of my budget and worked efficiently to try to reduce unnecessary legal expenses. My case also involved some dealings with a foreign country that Alex and his team had previously dealt with.  They did an amazing job addressing cultural barriers in a very respectful manner and did not fall short in quality of work or in standards when dealing with some of these new challenges. Ami deserves a medal for being extremely professional, calming, and compassionate when it is needed most.  When you need family law attorneys, call this firm. I now feel I can move forward with grace and dignity.