📍 256 N Main St Ste C, Alpine, UT, 84004
📞 801-769-1313
🌐 www.plattlawpc.com
The attorneys at Platt Law, P.C. are dedicated solely to helping families plan for the protection of the people and things in their lives that matter most.
📍 3651 N 100 E Ste 300, Provo, UT, 84604
📞 801-377-9787
🌐 jamestownlawgroup.com
Jamestown Estate Planning - We Emphasize Counseling Based, Comprehensive Estate Planning The Best Estate Plan for Traditional Married Couples After the Election We don’t know when we are going to die, which spouse will die first, how much money will be left, the needs of the surviving spouse, or the needs of the children and/or grandchildren. Another major problem—the constantly changing estate tax laws. Traditional planning more or less fixes in stone decisions about who gets what assets at death. Almost inevitably, there will be major changes in your circumstances between the day you draft your wills and either you or your spouse pass. These changes could make whatever you decided when you drafted the documents inappropriate at best and dangerous at worst. There is a better solution. If (and only if) you completely trust your spouse and you share the same heirs (usually your mutual children and grandchildren), we believe it is far more advantageous to draft an estate plan that allows the surviving spouse complete flexibility on the disposition of all of your assets. With this flexibility, your spouse, presumably with help from a trusted advisor, an attorney, and/or one or more of the surviving children, would be able to develop a powerful plan for each and every asset after the first death. The top estate planners in the country warn IRA and retirement plan owners to develop an appropriate response to the changing investment landscape and the new estate tax laws. A significant number of people haven’t done anything and are ripe for the cruelest trap of all . With their current documents, the standard language of traditional wills and trusts forces too much money (now up to $5,120,000), or assuming your estate is smaller than that, your entire estate into a trust limiting the surviving spouse to in-come and the right to invade principal for health, maintenance and support. If the trust is over funded, which is likely under the new law, less discretionary income is available for the surviving spouse. If you have a large IRA or 401K account, you need to explore whether this approach will work for you. The alternative is higher taxes, less flexibility, and less money for your family. Call for a free consultation where we can analyze your situation in light of the new and every changing tax laws. Jamestown Estate Planning provides free information for those interested in Utah estate planning topics. Learn here about Utah probate, living (revocable) trusts, wills, inheritance tax, estate tax, gift tax, retirement planning, life insurance trusts, asset protection, powers of attorney, living wills, health care proxies, family limited partnerships, LLCs, and other Utah estate planning issues. Our goal is the help you get the information you need so the estate planning process is both easy and rewarding for your. Our Experience and Willingness to Listen Set Us Apart Estate Plan