In estate planning, determining when a person is not competent can be a complex and legally significant matter. Competence, often referred to as "testamentary capacity" or "sound mind," is essential when creating or modifying legal documents such as wills and trusts.

It's essential for individuals engaging in estate planning to seek professional advice from an attorney experienced in this area. This can help ensure that the estate planning documents are created or modified with the necessary legal requirements and that the individual's competence is adequately established to avoid potential challenges and complications down the road.

Estate planning is not just about distributing your assets after you pass away. It is also about making provisions for potential incapacity or disability, ensuring that your financial, legal, and healthcare matters are taken care of in the event you're unable to make decisions for yourself.

McAdams Estate Planning provides individuals and families with comprehensive estate planning services that go beyond just addressing what happens after one's passing. We strive to help people plan for the unexpected, such as incapacity or disability, to ensure their security and peace of mind during challenging times. Some of the measures we put in place include setting up a durable power of attorney, creating health care proxies and living wills, and establishing revocable trusts.

Wealth inheritance, and the way it is passed down to younger generations, can have far-reaching consequences. For most people, the risks associated with early wealth are simply not worth any of the potential benefits.

For these reasons, McAdams Estate Planning strongly recommends staggering inheritance for younger generations to safeguard their mental, emotional, and financial well-being over the long term.

There are many advantages to this approach and how it can pave the way for a more secure and responsible financial future.

In Utah, you can appoint more than one trustee for your estate and we think it’s the best choice for many reasons. With multiple trustees, you can tap into a broader range of skills and backgrounds, enhancing the comprehensive management of your assets. It also acts as a safeguard against mismanagement, financial losses, and conflicts among beneficiaries.

At McAdams Estate Planning Law, we work closely with clients to establish robust estate plans that incorporate checks and balances. We plan to ensure the security and preservation of the estate's value while maximizing the distribution to beneficiaries.

Families with individuals who have disabilities often face unique challenges, both in terms of day-to-day care and long-term financial support. For these individuals, government benefits like Medicaid and Supplemental Security Income (SSI) can be vital lifelines. However, inheritances or financial gifts can jeopardize their eligibility for these crucial benefits.

At McAdams Estate Law Planning, we understand the unique challenges and concerns that families with special needs individuals face. We are dedicated to providing expert guidance and support in navigating this complex legal landscape. We specialize in creating tailored solutions that protect the financial and emotional well-being of your loved ones with disabilities.

Estate planning is not a one-time event; it's an ongoing process that should be reviewed and adjusted as your life circumstances evolve. Whether you're creating a new estate plan or revising an existing one, McAdams Estate Law Planning can offer you the expertise and support needed for a well-crafted and effective plan.

When it comes to estate planning, selecting the right trustees is paramount. These individuals will play a crucial role in managing and distributing your assets according to your wishes. The qualifications you should look for in a trustee are essential considerations in crafting an effective estate plan.

McAdams Estate Planning takes a personalized approach to help clients identify the most suitable individuals to nominate as trustees. We understand that this decision is critical in securing the legacy you have built. Our team works to pinpoint candidates who possess the necessary qualifications, such as financial expertise, legal knowledge, and ethical integrity, to ensure that your wishes are honored, and your assets are managed effectively.

Choosing a trusted partner like McAdams Estate Law Planning can provide peace of mind that your living will accurately represents your healthcare preferences and is legally sound in the state of Utah. In addition to living wills, we offer a range of estate planning services, allowing you to create a comprehensive plan that addresses all aspects of your estate, including wills, trusts, powers of attorney, and more.