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| Last Will and Testament
What is a Will? A Will is a basic estate-planning document. It is your opportunity to tell the world what you want done with everything you own (your “estate”). If you don’t have a Will when you die, not only will others not know what you wanted to have happen, but a court will often decide what happens with your assets. What is the process when I die without a Will? Here’s what often happens: when a person dies and that person’s spouse has also died, loved ones want to know what happens to the estate. Perhaps they’ll search through files and try to access safety-deposit boxes in the hope of finding a Will. Perhaps they’ll start calling around to lawyers, courthouses or other family members to find out what happens next. At some point, when it’s been discovered that no Will exists, someone still needs to take charge of disposing of the estate. Small estates can sometimes be settled at low cost and out of court. However, many estates need to be taken care of by a “probate” court. The judge assigned to the case will consider all claims against the estate—from creditors to friends and relatives. The court will first need to determine whether there are valid claims from creditors and others making claims against the estate. Once paid out of the estate, the judge will turn to Utah law to determine how to distribute the estate, based on what the laws dictate. In other words, the law decides, not you. What is the advantage of having a Will? If you have a Will, the judge will read it to determine how to distribute the estate—which puts you in the driver’s seat. As long as the Will is properly drawn up, witnessed and signed, and is otherwise valid, the judge will put into effect your desires to the fullest degree permitted by law. Also, in a Will, you are able to nominate a guardian for your children, which will usually be honored by a court. Also, you can choose your estate’s “personal representative,” the person who will be in charge of distributing assets after your death. Having a Will can also help avoid hard feelings from family members—they’ll know what you wanted for them. Most importantly, a Will can give you the peace of mind that no one will be left guessing how you wanted to distribute your assets after your death. How can I make a Will? There are certain requirements for a Will to be valid. An attorney can draft a Will for you in such a way that a probate judge is likely to enforce it. You may draft your own Will, as well, so long as it adheres to the legal requirements--there is no law requiring an attorney to prepare your Will for you. A competent lawyer will ensure that your Will is legally valid and will maximize its enforceability through careful drafting. For more information about the entire range of our estate planning services, click here. |
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The material on this web site is for general information only and does not contain a full legal analysis of the matters presented. It should not be construed or relied upon as legal advice or legal opinion on any specific facts or circumstances. The viewing of this web site and the material contained herein does not create an attorney-client relationship with this Law Firm. Gregg K. Stepan is admitted to practice law in Utah and the District of Columbia. Christopher F. Lewis, Isaac D. Paxman, Richard N. Barnes, and Jonathan D. Bletzacker are admitted to practice law in Utah. |