Individuals who own any property, are married, or have children should ensure they make a will. Any good estate plan requires that a proper will is made so that a person can have their property distributed fairly if the need ever arises. Life can take us by surprise, and since a person can end up going at any minute they should make sure they have made the precaution of creating a will so their assets are given to their family and their loved ones are taken care of properly.
Apart from making a will, there are also other factors of estate planning a person should take advantage of so their property is distributed the way they want. Anyone who has accumulated some assets should get in touch with an estate planning attorney as soon as possible to discuss their options and to have their estate competently managed and taken care of.
Sometimes, depending on a person’s situation, it may be wiser for them to make a living trust alongside everything else. It is important to note that there are specific rules and guidelines that make a will legal. So a person can not just print out the papers at home, fill out the form, sign it, and assume that their legal matters are resolved. Individuals must follow specific requirements for the will to be accepted after they pass away.
A last will and testament is only considered valid if it’s signed by the testator and two witnesses. The witnesses can not be anyone who will be inheriting from the will.
What happens if a person passes away without a last will and testament?
If a person does not take the precaution of signing up for a will, they would have died ‘intestate’ and this means that a person’s estate will be divided according to the Utah Probate Code and not according to any specifications the person had in question. According to Utah law, most of a person’s heirs become their spouse and their children in the case they did not allocate anyone themselves through a legal will.
One’s spouse will be given priority. If a person does not have a living spouse or children, then their parents will receive the estate. If there are also no parents, then the estate will be passed on to siblings or any other living descendants and relatives. In may seem unfair for a person’s wealth to not be immediately passed on to the individuals of their desire, but if a person does not take the legal precautions of undergoing fair estate planning they will have to suffer these consequences.
Get in touch with an estate lawyer at the Law Office of Barney Mckenna and Olmstead today to begin a thorough estate plan.
Reach us at:
43 South 100 East
590 W Mesquite Boulevard