Wills Vs. Trusts in Utah: Which Estate Planning Tool Best Fits Your Needs?
Online estate planning tools are more accessible than ever, but may include loopholes and errors that jeopardize the very security they were meant to create. Drafting estate planning documents with a professional can help ensure you get the right products to meet your specific needs.
(firmenpresse) - There are some situations where thought counts. But this probably isn t one of them.
Weber State University likely meant well when it launched its online estate planning tools earlier this year. The stated intentions from the Ogden, Utah institution were to make documents accessible to the two-thirds of Americans who don t have wills.
And truthfully, online estate planning documents may be better than nothing. But one-size-fits-all legal documents often have loopholes that aren t discovered until it s too late. And their lack of professional guidance makes it easy for users to choose a product like a Will when they really need a Trust or some other legal structure. Curry Andrews, lead attorney at Curry Andrews Consulting, explains the differences between wills and trusts and why you really should create them with the assistance of a legal professional.
Understanding Wills and TrustsWhile they are synonymous in some people s minds, wills and trusts serve different purposes in estate planning.
A Will directs asset distribution after death through a court process called probate. In Utah, probate typically requires six months at a minimum and can cost between $2,500 and $5,000 or even more in attorney fees, plus court filing fees ranging from under $200 to almost $400. Estates exceeding $100,000 in value or containing real property must go through probate regardless of value.
Trusts function differently. A revocable living trust holds assets during a person s lifetime and distributes them after death without court involvement. This structure maintains privacy and reduces costs associated with probate proceedings.
Common MisunderstandingsSeveral misconceptions prevent people from considering trusts as planning tools.
Many believe trusts serve only wealthy families. However, moderate income families benefit significantly because they cannot absorb probate costs as easily as affluent households.
Some assume trust creation means losing control over assets. But, with revocable living trusts, the person creating the trust retains full control and can modify or dissolve it at any time. They can even serve as their own trustee.
Expert Estate PlanningA brief explanation of wills versus trusts may not be enough for you to determine which product you need. Professional legal advice can guide you to the correct product, so that your assets go to the places and the people you desire.
Professional estate planning addresses unique circumstances that automated systems cannot recognize. Attorneys can see potential conflicts between different estate documents, coordinate beneficiary designations across multiple accounts, and structure trusts to protect assets from creditors and divorce proceedings.
Families with minor children particularly benefit from professional guidance, says Mr. Andrews, whose firm provides services in Utah and Idaho and can also coordinate with local attorneys across the nation. Trusts allow assets to remain in one fund for all children s support and education rather than dividing property equally among children of different ages and maturity levels.
Do-It-Yourself estate planning documents can seem like a good deal up front, but may have errors or vague clauses that don t come to light until it s too late. A professional attorney can help make sure the ones you care about the most are taken care of. Call one today.
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Unternehmensinformation / Kurzprofil:
Curry Andrews Consulting
Curry Andrews Consulting
https://www.estates-utah.com/
+1-801-960-3830
10808 South River Front Parkway
South Jordan
United States
Datum: 08.10.2025 - 04:01 Uhr
Sprache: Deutsch
News-ID 727513
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contact information:
Contact person: Curry Andrews
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South Jordan
Phone: +1-801-960-3830
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Typ of Press Release: Unternehmensinformation
type of sending: Veröffentlichung
Date of sending: 08/10/2025
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