Estate Planning

Thirteen Estate Planning Terms You Need to Know

Estate planning—it is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you …

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How to Own Your Real Estate

Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real estate and offer advice about the best …

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THE SECURE ACT: How It Will Affect You and the Beneficiaries of Your Retirement Accounts

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It increases the required beginning date (RBD) for required …

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What You Can Do Now to Prevent Expensive Legal Battles Down the Road

Time is money, especially when it comes to the law. A primary reason is that in the majority of cases, attorneys are paid hourly. And additional legal experience an attorney brings to table is typically reflected in the rate. Combine this with the fact that litigation is often a long and cumbersome process, and you …

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Utah’s New Power of Attorney Act

The Utah legislature recently adopted the Uniform Power of Attorney Act (the “Act”).  The Act became effective on May 10, 2016, and makes some significant changes to current Utah law.  With its enactment, Utah joins 20 other U.S. States in enacting this uniform legislation, though Utah has made some non-uniform changes of its own.  Here …

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Pros of a Revocable Living Trust

A trust is an entity (like a corporation) established to hold and manage property. It has its own separate existence apart from the grantor or creator of the trust. Trusts can be established during one’s lifetime (a “living” trust) or they can be established at death through a will (a “testamentary” trust). In the case …

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Probate FAQs

Q: What is Probate? A: Probate, simply put, is the process of appointing a surrogate (a substitute) to act on behalf of another who cannot act for themselves. For example, when a person dies owning real estate, unless there is a joint owner, there is no one alive who can sign a deed to sell or …

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Limited Partnership: A Guide

A limited partnership (LTD) is a hybrid of a corporation and a partnership. The general partners manage the business on a day-to-day basis and are personally liable for the debts and liabilities of the partnership. However, the limited partners do not participate in the management of the business and only their assets used for purchase of their …

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