PREMIER ESTATE PLANNING FOR UTAH FAMILIES
PLANNING A BETTER TOMORROW SO YOU CAN LIVE BETTER TODAY
ESTATE PLANNING IN UTAH
Estate planning offers a multitude of benefits that extend far beyond simply distributing your assets. First and foremost, it provides peace of mind. With McAdams Estate Law, you’ll feel secure knowing you've taken the time to plan for the future and the well-being of your loved ones.
Estate planning also allows you to minimize estate taxes, ensuring that more of your hard-earned assets are passed on to your heirs rather than the government. It further enables you to specify how your assets should be managed and distributed, which can prevent family conflicts and ensure your wishes are carried out precisely.
If needed, estate planning also allows you to appoint guardians for minor children and make provisions for family members with special needs, ensuring they receive the care and support they require.
CHOOSING THE RIGHT ATTORNEY
Selecting the right attorney for your estate planning needs is a crucial decision. They should be willing to listen carefully to your goals, concerns, and unique circumstances. Communication is key, so find an attorney who can explain complex legal concepts in a way that you can easily understand.
Ultimately, trust and rapport are essential, so choose an attorney with whom you feel comfortable sharing sensitive financial and personal information. A good attorney will guide you through the process, ensuring that your estate plan is tailored to your specific needs and goals, ultimately providing you and your loved ones with the security and peace of mind you deserve.
PROTECT WHAT MATTERS MOST
PERSONALIZED SOLUTIONS TAILORED TO YOUR NEEDS
McAdams Estate Law brings a wealth of experience to the table. We are dedicated to helping our clients understand and navigate the intricacies of law, so we can better provide comprehensive and tailored solutions to meet their needs. Our knowledge spans a wide range of estate planning matters, from wills and trusts to asset protection and business succession planning.
What truly sets us apart is our client-centric approach. We don't just view our clients as legal cases, but real people with unique goals, concerns, and aspirations. We take the time to listen, understand, and empathize with each client's situation, ensuring that every estate plan they craft is precisely tailored to meet their needs and desires.
McAdams Estate Law's is dedicated to helping you secure your financial legacy and protect your loved ones. Our commitment to excellence and our unwavering focus on client satisfaction means you can trust that your estate planning needs will be met with the utmost care and expertise.
Andrew McAdams, Attorney
ESTATE PLANNING FROM A - Z
Estate planning in Utah is a comprehensive process that involves organizing your financial and personal affairs to ensure that your assets are managed, distributed, and protected according to your wishes both during your lifetime and after your passing.
Although everybody’s situation is different, there are some general steps that are usually followed in most estate plans. Those steps include an initial assessment of the estate, setting goals and objectives, drafting a last will and testament, establishing trusts, designating beneficiaries, preparing advanced directives, tax planning, document preparation and sharing, and periodic reviews and adjustments.
At McAdams Estate Law, we practice in all aspects of estate planning, and we work diligently to accomplish our clients’ goals. Please contact McAdams Estate Law today to schedule a consultation or learn more.
ASSESSING THE ESTATE
Assessing an estate for purposes of estate planning involves taking a comprehensive look at your financial situation to determine the value and nature of your assets and liabilities.
For each asset, we will determine its current market value. This might entail appraisals for real estate and personal property, collecting financial account documents, and assessing the fair market value of business interests.
We will also make sure to account for any outstanding liabilities that might collect against the estate including any mortgages, loans, or other outstanding debts.
The goal is to understand your financial position and plan how your assets will be managed, distributed, and protected during your lifetime and after your passing.
At McAdams Estate Law, we will work with you to compile a complete list of your assets, determine asset values, account for liabilities, and calculate the estate’s net worth.
Please contact the legal team at McAdams Estate Law to schedule your consultation today.
SETTING GOALS & OBJECTIVES
Estate planning is a deeply personal process, and individuals often have a range of goals and objectives they aim to achieve through this vital legal and financial endeavor.
In our experience, the most common goals and objectives people seek in estate planning revolve around ensuring the well-being of their loved ones and the efficient transfer of their assets. This typically includes specifying how their assets should be distributed among heirs, providing for the financial security of surviving family members, and minimizing estate tax liabilities to preserve more of their wealth for beneficiaries.
Additionally, many individuals aim to maintain privacy and avoid the probate process by creating trusts, thereby facilitating a smoother and more confidential transition of assets. Ultimately, estate planning serves as a means to control and safeguard one's financial legacy while leaving a lasting impact on future generations.
DRAFTING A WILL & ESTABLISHING TRUSTS
Wills and trusts are similar in that they both serve as legal instruments for asset distribution. However, they are not the same thing. Wills take effect only upon an individual's death, while trusts can operate during one's lifetime and offer more flexibility in managing and distributing assets, often bypassing probate.
Deciding whether to have a will only or a combination of a will and a trust depends on individual circumstances and goals. For many, having both can be a better option because it allows for a more comprehensive and flexible estate plan.
A will can cover assets not included in the trust, specify guardianship for minor children, and serve as a backup for any assets that were inadvertently left out of the trust, thereby providing a safety net.
Including a trust will facilitate the efficient transfer of assets, minimize the need for probate, and offer privacy. Trusts ensure that complex or valuable assets are managed and distributed precisely as desired.
Ultimately, the combination of a will and a trust can provide a well-rounded estate plan that addresses various aspects of an individual's financial and personal objectives.
At McAdams Estate Law, we have a deep understanding of Utah's specific laws and regulations and expertise drafting wills and trusts. Our commitment to communication ensures clients feel heard and informed throughout the process. We take a highly personalized approach, tailoring estate plans to individual circumstances and goals while maintaining a keen eye for detail. We place the client's needs at the center of every decision, ensuring that each plan is designed to provide the best possible outcome.
With McAdams Estate Law, clients can expect a high level of professionalism, expertise, and dedication to achieving their estate planning objectives.
Please click here to speak with an attorney and schedule your consultation today.
ADVANCED MEDICAL CARE DIRECTIVES
Advanced medical care directives in Utah are legal documents that allow individuals to express their healthcare preferences and decisions in advance. They are designed for situations where individuals may become unable to communicate or make decisions for themselves, allowing them to maintain control over their medical care and ensure that their wishes are honored regarding life-sustaining treatment.
Such directives relieve loved ones of the burden of having to make difficult decisions during a medical crisis. They offer peace of mind and clarity during challenging times, allowing you to have a say in your own healthcare, even if you cannot actively participate when the time comes.
MINIMIZING TAX IMPLICATIONS
Estate planning attorneys play a pivotal role in helping clients navigate tax implications on their estates. They are skilled at devising strategies to minimize the impact of estate taxes on the assets passed on to beneficiaries.
At McAdams Estate Law, we work diligently to help our clients strategically plan for estate taxes. Our goal is for our clients to save significant sums of money and preserve more of their wealth for their loved ones and charitable causes.
McAdams Estate Law is an excellent choice for your estate planning needs and we will work diligently and adeptly to handle tax implications on your estate. We craft tax-efficient estate plans and we are committed to tailoring each plan to the unique needs of each client.
By entrusting your estate planning to McAdams Estate Law, you can be confident that your assets will be managed with a focus on maximizing tax benefits, safeguarding your legacy, and providing for your loved ones in the most efficient manner possible.
Please click here to learn more and schedule your consultation today.
DOCUMENT PREPARATION & MAINTAINENCE
At McAdams Estate Law, we work closely to meticulously draft and execute your legal instruments to align with your specific wishes and meet all regulatory requirements.
We follow a comprehensive approach that ensures individuals can protect their legacy, provide for their loved ones, minimize tax liabilities, and maintain control over their assets even in unforeseen circumstances. Our mission is to provide you with peace of mind and security for the future.
We provide our clients with as many official copies as needed. Of course, it's advisable to keep those copies in a secure, easily accessible location. Additionally, McAdams Estate Law always maintains current copies of all your estate planning documents in the event they are lost or damaged.