FAQ (Frequently Asked Questions)

What is estate planning?

Generally defined, estate planning is the process of planning a person’s wealth, including preparing a will and planning what will occur with the distribution of the person’s property after death.

What is the purpose of estate planning? How can it benefit me?

Estate planning is carried out to help ensure that your wishes are carried out even after you are gone. Properly done, estate planning will mean that your property and assets will be distributed as you wish and that your loved one’s will be taken care of. Estate planning can be done at any point in your life, in order to make sure you are properly prepared for the future.

What is a will?

A will, also referred to as a “last will and testament”, is a legal document which is created to transfer property and assets to specific persons or organizations after a person’s death. The benefit of a will is that a person can decide exactly how his or her wealth or property should be distributed, ensuring his or her wishes are followed in regards to distribution to family members, loved ones or organizations.

Do I really need to consider estate planning?

It is important that you consider estate planning if you have children, if you have property that you would like to protect and if you are concerned about your health care treatment. Should anything happen to you, estate planning will ensure that your health care treatment is conducted as you wish, even if you are not in a state to make your desires known at the time. It will also ensure that your children are taken care of and your property is handled as you would like it to be.

What is probate?

Probate is a legal process that involves a will, conducted to ensure that the will is valid and that the estate is executed legally and as per the stipulations outlined in the will.

If you need legal assistance with any matter involving probate or estate planning, contact a Salt Lake estate planning attorney at The Stone Law Firm today!