When you’re thinking about filing taxes after a divorce, you may want to know how your taxes will change. The federal tax impacts of divorce aren’t as large as they used to be. Each state has its own state income tax laws. How divorce-related payments and income are treated differs from state to state. Refer to your state’s taxation authority to see how your state’s tax laws will impact you. How The IRS Defines Alimony PaymentsTo qualify as alimony or separate maintenance, the payments you make to your former spouse must meet all six of these criteria: If you live in one of the states listed below, consider any property or income held by you and your spouse as community property. Payments that represent your spouse’s portion of community property income are not considered alimony. Is Spousal Support You Receive Taxable?If you receive spousal support, you must report the payments as income and pay taxes on the money. Spouses need to plan for the potential tax impact of the income. Unlike an employer, your former spouse won’t withhold any taxes from your support check. If you’re staying at home to care for young children and have no other source of income, paying estimated tax each quarter (to both the IRS and your state) may be a good way to avoid taking a tax hit at the end of the year. If you have a paying job, then increasing withholding from your paycheck is another way to offset the potential impact of support payments. You may need to spend some time looking at different payment scenarios and how they play out tax-wise by calculating what your tax liability would be if you received a certain amount of support and what benefit your spouse would receive from the tax deduction. You can check your potential tax liability on the IRS website at www.irs.gov, where tax tables are available. Or you can ask a tax professional to help you look at the tax impact of different amounts of support so that you can figure out the optimal amount—that is, the amount that puts the most money in each person’s pocket after taxes. The IRS offers many publications that may help you as you negotiate support. There’s a chapter specifically on alimony, and IRS Publication 505, Tax Withholding and Estimated Taxes, is one, and IRS Publication 504, Divorced or Separated Individuals, is another. The IRS treats payments made to third parties on your behalf as though you received them—you have to include them in your taxable income. So, for example, if your former spouse pays the mortgage directly (and this is provided for in your marital settlement agreement or court order), you must report that amount as income. Spouses can split the difference between the new tax changes, and a paying spouse can argue that paying less spousal support is fair to both spouses. Where To Report Alimony On Your Tax ReturnIf you have a divorce agreement finalized before January 1, 2021, reporting alimony paid and received on your tax return is easy. You simply input alimony paid or received on Form 1040, Schedule 1. If you’re the person receiving alimony payments: You will enter the amount on line 2a. On line 2b, you must input the date of the original divorce or separation agreement. You’re also required to give your Social Security number to the alimony payer, or you may face a $50 penalty. If you’re the person making alimony payments: You’ll enter the amount paid on line 18a. Alimony payers are also required to input the recipient’s Social Security number on line 18b, and the date of the original divorce or separation agreement on line 18c. If you do not include the recipient’s Social Security number, you may be subject to a $50 penalty. People with divorce agreements dated January 1, 2021 or after do not have to include information about alimony payments on their federal income tax returns. If you’re required to report alimony income on your tax return and you forget to include this information, you’ll be subject to the usual penalties and interest payments for underreporting your tax. Claiming DependentsClaiming a dependent on your tax return depends on many factors. The custodial parent will generally claim the dependent, but the custodial parent for tax purposes might not be the same person who has legal custody. The custodial parent for IRS purposes is the parent whose house the child sleeps at the most number of nights during a year. In certain cases, the non-custodial parent may claim the dependent if they meet the following four requirements: The custodial parent signs Form 8332 declaring that they won’t claim the child as a dependent for the year and the non-custodial parent attaches the written declaration to their return for divorces occurring after 1984 THE RULES OF ALIMONY AND TAXESUntil recently, the IRS allowed paying spouses to deduct alimony payments and required recipients to report it as income. However, the rules have changed for any divorce finalized on or after January 1, 2019. The Date of Divorce MattersIf you finalized your divorce before January 1, 2019, the spouse paying support may report the payments as a tax deduction, and the recipient must report and pay taxes on the alimony as income (unless your support agreement or order says otherwise). For couples whose divorce was pending on or after January 1, 2019, the Internal Revenue Service (IRS) no longer treats spousal support payments as income to the spouse who receives it, nor does it allow the paying spouse to take a tax deduction for the amount of alimony paid each year. Reporting Income and Submitting Tax Deductions for Spousal Support Orders Created Before January 1, 2019 Example. If the higher earner has a taxable income of $200,000 a year and pays the other spouse alimony of $80,000 a year, the higher earner will owe income tax on $120,000, not $200,000. The recipient might pay taxes of $16,000 on the $80,000. The payor saves more than that. The payor, who would have paid about $50,000 on $200,000 of income, now pays only about $24,000 on annual income of $120,000. Between the two, they are paying a total of $40,000, or $10,000 less, than the higher earner would have paid before deducting the alimony payments. Most people want to make alimony tax-deductible. You do, however, have a choice, and for some couples, the tax consequences are more favorable if they make payments nondeductible and nontaxable because of the tax consequences. A tax expert can tell you which course is right for you. Making Sure Payments Are Tax-DeductibleHowever, not all alimony payments qualify as deductions. The IRS imposes seven requirements on taxpayers seeking to deduct alimony payments: Make payments in cash or by check. You must pay alimony by cash or check for the benefit of a spouse or former spouse. The value of in-kind alimony—for example, giving your spouse your car—isn’t deductible. Follow the documents and designate payments as tax-deductible. Make payments in accordance with a divorce document, such as a marital settlement agreement, separation agreement, court order, or divorce judgment. Payments made under a temporary support order also qualify. (Section 71 of the Internal Revenue Code.) Just make sure your documents state the amount to be paid and describe it as alimony, spousal support, or spousal maintenance. The documents should also clearly label the payments as deductible by the payor spouse and taxable to the recipient spouse. Don’t characterize payments as child support or a part of a property settlement. Child support payments, unlike alimony, are never tax-deductible. So be sure that alimony payments are not tied in any way to support of your children. For example, if you agree that alimony will end when your child becomes an adult, you run the risk that the IRS will reclassify past alimony as nondeductible child support. The IRS would disallow your past alimony deductions, and you would owe back taxes. Similarly, if the IRS views your payment as part of your division of marital property, it’s not tax-deductible. Specify that payments end at the recipient’s death. The marital settlement agreement or judgment must provide that alimony payments terminate when the recipient dies. (The document can also ensure that the alimony obligation ends when the payor dies.) Most payors also have the right to terminate alimony if the recipient remarries. Live apart. If you are still living with your spouse or former spouse, alimony payments are not tax-deductible. You must make payments after physical separation for them to qualify as tax-deductible. Don’t file a joint tax return. If you and your spouse file a joint income tax return, you can’t deduct alimony payments. Don’t pay extra upfront. Make sure to follow IRS rules against front-loading—the advance payment of alimony that’s due later. Alimony should not be excessively high or front-loaded in the first three post-separation years. Excessive payments are subject to recapture or being taxed to the payor in the third post-separation year. The Tax Cuts and Jobs Act Impact on Spousal Support Orders on or After January 1, 2021. Regardless of when you filed for divorce if a judge finalized it on or after January 1, 2021, the Tax Cuts and Jobs Act (TCJA) will impact your spousal support orders. The TCJA ended the tax deduction benefit and reporting requirements for support until at least 2025 (or, after 2025 until Congress changes the law.) The IRS now treats all alimony payments the same as child support—meaning, there’s no deduction or credit for the paying spouse and no income reporting requirement for the recipient. Divorce is an adversarial process already, and the new tax changes are likely to cause more issues moving forward. In the past, paying spouses were less likely to fight over spousal support payments because that spouse would receive a credit for any money paid to the recipient, and the recipient would pay taxes on the income. Now, however, paying spouses often feel as though the new law rewards the recipient spouse with a financial windfall—large, monthly payments that don’t count as income. For example, if a paying spouse earns $60,000 per year and the recipient earns $40,000 per year, the court may order spousal support payments to balance out each spouse’s finances. If the paying spouse sends the recipient a total of $10,000 per year in alimony, the result is that both spouses receive a total of $50,000 per year. In the past, the paying spouse would ask the IRS for a tax deduction for the $10,000 paid while the recipient would report and pay taxes on the income. Under the new Utah tax law, the paying spouse is still responsible for paying taxes on the full $60,000 (even though that spouse is keeping only $50,000), and the recipient only pays taxes on the $40,000 earned (despite receiving an additional $10,000 in income.) As a result of the new tax law, paying spouses will likely negotiate to pay less in spousal support to make up for the loss of the tax deduction and “windfall” for the recipient not reporting the income. If you’re going through a divorce and alimony is an issue, it’s important to speak with an experienced family law or tax law attorney before you settle or ask the court to decide the alimony issue for you. Paying spouses must evaluate the impact of paying spousal support on their annual income and how the payments will impact the recipient. Is Alimony Always Tax Deductible to the Paying Spouse?When you’re negotiating with your spouse or arguing in court about the level, type, and duration of spousal support (also called “alimony” or “spousal maintenance”), tax issues should never be far from your mind. One of the most frequent questions during divorce negotiations is, “do you pay taxes on alimony?” This article explains the basic rules and significant concerns for each spouse—but you may need some assistance in making decisions about support, as discussed below. Alimony Tax Rules for Divorces Before 2021. The old tax rules still apply if your divorce agreement was executed or your divorce decree was issued in 2018 or earlier. Alimony is still considered taxable income for the recipient, and it’s still tax deductible for the payer under the same rules. Payers must still meet certain requirements for these payments to qualify as deductible alimony. The new rules also apply if a decree or agreement is modified after Dec. 31, 2018, and the modification states that the repeal of the alimony deduction applies to the modification. Reporting Alimony You’ve Received as IncomeEnter the full amount of any alimony you received on line 2a of the 2021 Schedule 1 with your 2021 Form 1040 to report alimony you received as income if you were divorced within the time frame when you must do so. Alimony includes what is sometimes called “separate maintenance”—income received if you were legally separated but not yet technically divorced. It does not include: Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
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Estate Planning Attorney West Valley City Utah Criminal Defense Attorney Taylorsville Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeThe post Are Alimony Payment I Receive Taxable Income appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/are-alimony-payment-i-receive-taxable-income-2/
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Estate planning entails preparing for the transfer of a person’s assets and wealth in the event the latter becomes incapacitated or dead. Estate planning entails much more than preparing a will alone. An estate plan covers transfer of assets some of which could take effect once such asset is created and after the death of the owner. Why Create An Estate Plan?An estate plan comes with a lot of advantages; An estate is the real and/or personal property a person possesses at death. The practice area of estate planning law involves the drafting of living wills, trusts, powers of attorney, and other documents to facilitate the transfer and management of property after death. When estates aren’t managed and someone dies without a will, their possessions will be distributed to their next of kin. By not making a will or otherwise making estate plans, the individual gives up control of their estate and has no say in how the property is divided. Terms used in Taylorsville UtahThere are key terms to know that help to understand estate planning law, including the following: Do You Need an Estate Planning Lawyer?Depending on the complexity of the estate, the health of the individual, and other factors, practically everyone may need the services of an estate planning lawyer at some point. Sometimes individuals will work with a lawyer on behalf of a relative or loved one who is no longer able to manage their own affairs. After having children, some families decide to create a trust, which is a document similar to a will, but also helps manage property before death. Some common reasons for hiring an estate planning lawyer include the need to create: A will can help make the transition after a loss as painless as possible for your loved ones. Your property will be transferred quickly and many tax burdens can be avoided. Wills typically describe the estate, name individuals who will receive specific property, and dictate any special instructions you may have. Depending on your wishes and the size of your estate, your will could be anywhere from a single page to a lengthy document. While a will allows you to express your financial wishes once you’re gone, a living will expresses your health care preferences while you’re still alive. With a living will, you’ll be able to designate the medical treatment you wish to receive, should you become unable to communicate your wishes due to illness or incapacitation. A health care power of attorney, on the other hand, allows you to designate a person who can make medical or end-of-life decisions on your behalf. Trusts are another estate planning tool you can use to manage your property and avoid tax burdens. A trust can either be created during a person’s lifetime, or after death, by a will. There are a number of different types of trusts serving a wide range of functions. An asset protection trust, for example, is designed to protect a person’s assets from future creditors. A charitable trust, on the other hand, is used to benefit a particular charity or cause. All Estate Plans Are Not Created EqualThe cost of your estate plan varies with which documents you need and with the complexity of each document. These documents are the estate planner’s tools. A good estate planning attorney in Taylorsville Utah will recommend a combination of those tools and help you prepare a strategy to make the tools work together. Example 1: A young couple of average wealth with small children will need an estate plan that focuses on guardianship and maximizing financial security in the event the parents pass away at a young age. This plan requires straightforward documents like a will, appointment of guardianship, and perhaps a basic living trust. Keep in mind that fees for estate planning are not just a function of the time your attorney spends drafting documents. Good estate planning attorneys use their skills, knowledge, and expertise to construct a holistic plan that will help you accomplish your unique estate planning goals. You will pay more for the work of a more experienced estate planning attorney who can provide a complex plan. If you do not need a complex plan, consider finding an attorney who focuses on plans for simpler estates. Types of Fees for Estate PlanningLawyers use different types of fees for different services, and the way you pay your attorney has a big impact on how much you will end up paying for your estate plan. Lawyers typically use one of three common rate structures –flat fees, the billable hour, or contingency fees. Flat FeesFlat fees are used when your attorney can quickly assess your needs and know what type of estate plan you require. Your estate planning attorney can look at your financial status, family situation, and any special considerations and know what planning tools you will need. For these common cases, your attorney may offer a flat fee arrangement—that is, a firm price to complete all of your estate planning work. You may be asked to pay this amount, or part of this amount, before work begins. A typical flat fee estate plan includes the most common estate planning tools such as: While this typical estate planning bundle, not all flat fee arrangements are identical. When agreeing to a flat fee, be sure you understand what documents and services are included in your estate plan. The Billable HourFor plans that don’t fit into one of those common flat fee categories, your estate planning attorney will likely charge an hourly rate for the time they spend thinking about, working on, and meeting with you about your case. When charging an hourly fee, your attorney may ask you to provide a retainer before starting work on your case. A retainer is a prepayment of fees that the attorney will draw from as they work on your case. Retainer policies vary among attorneys and law firms. Your attorney may ask for a retainer of the entire expected cost of creating your estate plan. Or, your attorney may ask for just a portion of that amount (maybe one-half) and then bill you for the rest later. Estate planning attorneys often use a billable hour if they anticipate your estate plan will require extra sophistication in planning or time coordinating with other professionals (for example, your financial planner). If your attorney cannot confidently predict the cost of your estate plan, they will charge an hourly rate that reflects their knowledge and expertise in the estate planning field. Location also factors into your attorney’s hourly rate. Generally, attorneys in metropolitan areas charge higher hourly rates than attorneys in less populated areas. Hourly rates also vary from state to state. Contingency FeesEstate planning attorneys typically do not use contingency fees. Contingency fee arrangements work best in cases where your attorney is trying to win you money in a lawsuit or settlement. For example, you agree to pay the attorney a portion (typically one-third) of whatever the attorney can get for you. If you get $15,000 in a settlement negotiated by your attorney, you would pay $5,000. Because estate planning isn’t adversarial you’re not fighting another person contingency fees don’t make sense. However, probate attorneys might use a form of contingency fee for helping you settle an estate. Get It In WritingNo matter which type of fee arrangement your attorney uses, make sure you get it in writing! Your attorney should offer you an engagement letter that details: Who Does the Work?A final factor that contributes to the cost of your estate plan is who actually performs the work. This can vary depending upon the type of lawyer or law firm you hire. If you hire a solo attorney or a small firm, your attorney typically handles much of the work on your case and will charge you their hourly rate for all the work. If you hire an attorney from a larger law firm, your attorney will typically delegate some tasks to junior attorneys, paralegals, or other staff. This is particularly true if common, formulaic documents fit your estate plan’s needs. This division of labor isn’t necessarily a bad thing for you. Junior attorneys, paralegals, and staff have hourly rates much lower than the experienced senior attorney who conducted your first meeting. Having staff complete tasks under the supervision of that senior attorney saves you money while also allowing you to take advantage of that senior attorney’s experience and knowledge. Some attorneys may prepare a simple will or power of attorney for as little as $150 or $200. On average, experienced attorneys may charge $250 or $350 per hour to prepare more sophisticated estate plans. You could spend several thousand dollars to work with such an attorney. Finding an Estate Planning Lawyer in Taylorsville UtahSome lawyers specialize in estate planning or even in certain types of estate planning. You will want to hire a specialist if you have a complex issue, such as an issue involving taxes, government benefits, or beneficiaries who are foreign nationals. The laws governing trusts and estate taxes change frequently, so your attorney will need to be up to date on the precise federal and state requirements. If you are just looking for basic advice on relatively standard estate planning instruments, you may be able to cut costs by hiring a lawyer who is not a specialist. As with any lawyer whom you hire for any legal matter, you should find an attorney who is a good personality fit for you. They should be compassionate to your situation and sensitive to your needs. The process should remove rather than add stress, unlike many other legal matters. You may be able to get a referral from a family member or a personal acquaintance whom you trust, or from a business or organization in which you are involved. If you have retained a lawyer for a different type of legal matter in the past, they may be able to refer you to a lawyer who handles estate planning. Any of these sources likely will produce better results than a generic referral from a bar association or lawyer referral service. Regardless of how much you trust your referral source, however, you should make sure that you personally feel comfortable with the lawyer and confident in their abilities. To make sure that you do not face unanticipated costs, you will want to put your fee agreement with the lawyer in writing before they start providing services to you. They should give you their hourly fees and an estimate of the time that they expect to spend assisting you. Essential Estate Planning Documents• Last Will and Testament: A last will and testament allows you to set out your specific wishes for how you want your property and assets to be divided upon your death. It also designates who will assume guardianship responsibility of any minor children if neither parent can serve as guardian. You can use a will to make bequests to charities. Last wills are easy to prepare, but are subjected to probate process, which, depending on the size of your estate, could take some time. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Family Law Attorney West Valley City Utah Estate Planning Attorney West Valley City Utah Criminal Defense Attorney Taylorsville Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeTaylorsville, Utah
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Taylorsville is a city in Salt Lake County, Utah. It is part of the Salt Lake City metropolitan area. The population was 60,448 at the time of the 2020 census. Taylorsville was incorporated from the Taylorsville–Bennion CDP and portions of the Kearns metro township on July 1, 1996. The city is located adjacent to Interstate 215 and Bangerter Highway. It is located in the middle of the Salt Lake Valley. [geocentric_weather id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_about id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_neighborhoods id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_thingstodo id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_busstops id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_mapembed id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_drivingdirections id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_reviews id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] The post Estate Planning Attorney Taylorsville Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/estate-planning-attorney-taylorsville-utah/ Within the complex criminal justice system, a Taylorsville defense attorney serves as the defendant’s guide, protector, and confidant. (At least that’s how it’s supposed to be.) Defense attorneys are usually grouped in two camps: court-appointed attorneys paid by the government and private attorneys paid by the defendant. Some criminal defendants can afford to hire a private criminal defense attorney. For those who cannot afford an attorney (approximately eighty percent of all criminal defendants), the court may appoint counsel to represent the defendant (assuming certain qualifications are met). These court-appointed attorneys are either public defenders who are on government salary, or they are so-called “panel attorneys,” local attorneys chosen from a panel. A small fraction of criminal defendants (approximately two percent) represent themselves and are referred to as “pro se” or “pro per” defendants. What Does a Criminal Defense Attorney Do?Criminal defense attorneys (private and court-appointed) research the facts, investigate the case against their clients, and try to negotiate deals with their adversaries (prosecutors). These deals might include reduced bail, reduced charges, and reduced sentences. Because of a number of factors political and public pressure, overcrowded jails, overloaded court calendars deal-making has grown in importance and has become an essential element in unclogging the criminal justice system. Criminal defense attorneys also examine witnesses, help formulate a plea, analyze the prosecutor’s case, assess the potential sentences (and the likelihood of a particular judge awarding such a sentence), review search and seizure procedures, question witnesses, and gather evidence. Defense counsel can also advise on potential immigration consequences or other consequences of a plea, conviction, or criminal record. Defense counsel also provide more personal services by giving the defendant a reality check as to the possible outcomes and by helping the defendant to deal with the frustrations and fears resulting from being thrown into the criminal justice system. And of course, if no plea deal can be made, the defense lawyer represents the defendant at trial. Cost of Legal Representation In Taylorsville UtahA huge factor when it comes to legal representation is the defendant’s financial status and whether the defendant can afford private counsel. Private criminal defense attorneys charge either on an hourly basis (expect to pay $150 an hour or higher) or by a fixed or set fee. They are prohibited from charging contingency fees, which are payments that depend on the outcome of the case. If the defendant is indigent (cannot afford private counsel), the court may appoint a government-paid public defender or panel attorney. Some but not many folks have enough money so that paying for a lawyer isn’t a financial strain. But arranging for legal representation often isn’t as straightforward for those who fall in between these groups of people. Is a Private Attorney Better Than a Court-Appointed Attorney?Defendants sometimes believe that private attorneys possess a distinct advantage over the overworked public defender’s office or panel attorneys who are paid a minimum fee. But do private attorneys provide better representation than court-appointed government-paid defense counsel? Many private attorneys are former prosecutors or public defenders. Based on studies that evaluate the outcomes of having a private versus court-appointed attorney, data seems to indicate that the results for defendants are often the same. For example, one study indicated that defendants represented by private counsel and public defenders fared similarly in conviction rates and sentencing (although those represented by panel attorneys fared worse). Such statistical evidence is not always reliable or clear because of complicating factors. For instance, clients represented by private counsel often have short or no prior criminal records, while indigent defendants are twice as likely to be repeat offenders. What is also unclear and what creates one of the biggest uncertainties of the criminal justice system—is whether private attorneys can negotiate better plea deals than court-appointed counsel. Ultimately, the experience, skills, and commitment of the particular attorney at hand regardless of whether he or she is a public defender, panel attorney, or private lawyer are the best indicator of the quality of the representation. Self-Representation (Pro se)What is clear is that being represented by a lawyer is almost always the best option. Nevertheless, some criminal defendants represent themselves. The decision of whether a defendant can self-represent is ultimately made by the judge, not the defendant. The judge is required to determine the defendant’s competency. That’s because a defendant who cannot provide a competent defense cannot get a fair shake, even if the defendant is adamant about not accepting the services of a court-appointed attorney. When determining whether a defendant can go pro se, a judge will consider factors such as: Finding an AttorneyWhen looking for a private defense attorney, look for an attorney who specializes in criminal defense and practices in the jurisdiction (city or county) where charges are pending. A local attorney will be familiar with the judges and prosecutors in that area. If you don’t have the financial resources to pay for an attorney, you will typically need to ask for court-appointed counsel (before or at one of your first court hearings) and fill our paperwork on your financial resources. Learn more in our article on public defender representation. Criminal Defense Law In TaylorsvilleCriminal defense law consists of the legal protections afforded to people who have been accused of committing a crime. Law enforcement agencies and government prosecutors have extensive resources at their disposal. Without adequate protections for the accused, the balance of power within the justice system would become skewed in favor of the government. As it is, fair treatment for criminal defendants often depends as much upon the skill of their defense attorney as it does the substantive protections contained in the law. Defense attorneys know how to use constitutional guarantees to the advantage of their clients. For example, all criminal prosecutions are based upon evidence gathered by the government. This may include physical items of evidence, witness statements, confessions, drug and alcohol tests, and so forth. Someone who has been tried and acquitted of a crime cannot again be charged with that office, as mandated by the “double jeopardy” provision of the Fifth Amendment. The Sixth Amendment guarantees criminal defendants the right to a public trial, and in many cases, the right to have their guilt or innocence decided by a jury. It also affords the right to confront adverse witnesses, and to use the court’s subpoena power to compel the appearance of favorable witnesses. Securing a Release from Jail Pending TrialFollowing an arrest, the first thing defendants will want to do is get out of jail. Besides the obvious inconveniences, being in jail prevents defendants from working and earning money in order to pay a defense attorney and meet their other financial obligations. This can be especially problematic for those who will later plead guilty and face expensive fines and assessments. Defendants who are incarcerated are also at a disadvantage because it is more difficult for them to assist their attorney in preparing a defense. Obtaining a release from jail while a case is pending requires the defendant to post bail. In simple terms, bail is good faith money, giving the court a form of collateral to ensure the defendant returns to court to attend future proceedings in the case. If the defendant fails to appear, the bail money is forfeited. A defendant who cannot afford bail may use a commercial bond service or ask the judge to reduce the bail amount. Judges may agree to reduce bail if it can be shown that the defendant has strong ties to the local community and does not pose a danger to others. Plea Bargaining Strategies In Taylorsville, UtahA vast majority of criminal cases never reach the trial stage. The defendant and the prosecuting attorney will instead enter into a settlement agreement known as a plea bargain. Basically, the defendant agrees to plead guilty in exchange for a lenient sentence. Defendants seeking a plea bargain can take one of two general approaches. They can fight the government at every turn, making the prosecutor’s job more difficult, and giving the prosecutor an incentive to get rid of the case through a plea bargain. Alternatively, defendants can fully cooperate, demonstrate true remorse, and convince the prosecutor that a lenient sentence is appropriate because they have changed their criminal ways. Presenting a Winning Defense to the JuryWhen a case does proceed to jury trial, one of the keys to success is presenting a coherent, persuasive theory to explain to the jury why the defendant has been falsely accused. The defendant’s attorney will touch upon this theory throughout the trial, creating a narrative that resonates with jury members in that community and reinforces their pre-existing beliefs about the issues in the case. Developing the right theory and presenting it effectively is the goal of every criminal defense trial lawyer. Types of Criminal DefensesIf you have been accused of a crime, you will have to appear in court. The accused in this situation is known as the defendant. As the defendant, you and your criminal attorney will likely want to establish some sort of criminal defense to prevent a guilty verdict. A criminal defense is a strategic argument that attempts to challenge the validity and sufficiency of the prosecution’s evidence. The prosecution is the party trying to prove the criminal charges against you. Affirmative Criminal DefenseSome criminal defenses attempt to strike down the prosecutions evidence by showing that it is false. However, there are a number of types of defenses that accept some of the prosecution’ evidence as true. These defenses are often referred to as affirmative defenses. Affirmative defenses require that the defendant, along with his or her criminal attorney, produce evidence in support of the defense. For example, say you have been charged with first-degree murder. First-degree murder is when you plan the murder beforehand. You and your attorney may choose to produce an alibi witness. An alibi witness is someone who testifies that you could not have committed the alleged crime. In this example, the alibi is the defense. The type of defense that you and your attorney choose to pursue will depend, in part, on the crime you are accused of committing, as well as the evidence available to you. The Insanity DefenseMade popular by television shows and movies, the insanity defense is not actually used frequently nor is it often successful. This defense states that you committed the alleged crime but had did not know that what you did was wrong. To successfully use the insanity defense, you must have had a severe mental disease or defect at the time the crime was committed. You and your attorney must present clear and convincing evidence that you have such a mental disease or defect and that this disease or defect resulted in your not understanding that your actions were wrong. Relying on the insanity defense can be risky. By using it, you are admitting that you committed a crime. This means that if the jury rejects your insanity defense, it will likely find you guilty. Before using this criminal defense, consult with your criminal lawyer. Coercion and DuressCoercion and duress is an affirmative criminal defense that basically says you were forced to commit a crime because you were threatened with unlawful force. This unlawful force does not have to actually occur. Merely the threat of unlawful force can be enough to satisfy the coercion defense. The force or threat of force does not have to be threatened against the individual accused of the crime. Rather, it could have been used against or threatened against another individual, such as a family member. The coercion and duress defense cannot be invoked if your reckless actions put you in the situation that caused duress. For example, if you were to take part in a drug deal, which then led you to become subjected to unlawful force that then led you to commit another crime, such as robbery, you would not be able to use this criminal defense successfully. Abandonment and WithdrawalAbandonment and withdrawal is another type of criminal defense available to defendants. This defense is also referred to as renunciation. This defense basically states that you were going to commit a crime or be an accomplice to a crime but then decided to abandon any involvement. It is technically an affirmative defense, so you and your attorney must show evidence to prove abandonment occurred. In addition, for the abandonment and withdrawal defense to be effective, your actions prior to withdrawing from the crime must not have in any way contributed to the crime, or you must have notified the police in advance of the crime. Other Criminal DefensesThere are a number of other criminal defenses that a defendant can invoke. Some of the more common criminal defenses include: Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Probate Lawyer West Valley City Utah Family Law Attorney West Valley City Utah Estate Planning Attorney West Valley City Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeTaylorsville, Utah
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Taylorsville is a city in Salt Lake County, Utah. It is part of the Salt Lake City metropolitan area. The population was 60,448 at the time of the 2020 census. Taylorsville was incorporated from the Taylorsville–Bennion CDP and portions of the Kearns metro township on July 1, 1996. The city is located adjacent to Interstate 215 and Bangerter Highway. It is located in the middle of the Salt Lake Valley. [geocentric_weather id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_about id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_neighborhoods id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_thingstodo id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_busstops id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_mapembed id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_drivingdirections id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_reviews id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] The post Criminal Defense Attorney Taylorsville Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/criminal-defense-attorney-taylorsville-utah/ An estate planning lawyer is a person who understands the legal processes of getting financial affairs in order when you’re preparing for an incapacitating event or your eventual passing. They have years of mentoring, continuing legal education, and experience in estate and inheritance law. Estate planning doesn’t begin and end with a last will and testament. An attorney practicing in this field drafts living trusts and develops plans to mitigate or avoid estate taxes. They work to ensure that your life’s savings and assets are safe from beneficiaries’ creditors when you pass on. Certain types of trusts and clauses within them can protect your estate from creditors and other vultures that try to swoop in on an inheritance. Estate planning lawyers can prepare powers of attorney and health care directives that arrange for someone to take care of your affairs if you should ever become mentally incapacitated. Powers of attorney give someone you trust the ability to sign in your name if you become unable to. You can make a health care directive to assign an agent to conduct your health care wishes if you’re incapacitated. They can help you avoid guardianship or conservatorship issues if you need someone else to look after your affairs. You can appoint guardians (to handle personal issues for your kids) or conservators (to handle your kids’ finances) to look after your children and finances if you pass away before they reach an appropriate age be on their own and handle their inheritance. Estate Planning Attorney QualitiesA general law practitioner may not have the experience and specialized knowledge to assist you with your unique family and financial situations. Look for an estate planning attorney who: Finding an Estate Planning AttorneyThere are multiple ways to find an estate planning attorney you can comfortably work with and trust. Start by asking someone who already knows you, such as your financial adviser or accountant. Your local or state bar association is another source of reputable referrals. You can ask the local probate court and consult other attorneys as well. Before committing, it may be possible to interview a few briefly by phone to help determine your ability to communicate effectively with them. Be prepared to pay to have your estate plan created, maintained, and updated by someone specializing in this area of practice. You’re paying for the attorney’s expertise and knowledge of estate laws, and to have a plan that will hold up in court. Your estate might stand to lose far more money in the long run than it costs to pay a qualified attorney. A flat fee may cover the preparation of essential documents and initial consultation. If an attorney wants to charge you by the hour, try to negotiate a flat price for all the work you expect is needed. Some experienced attorneys will agree because they have a good sense of how much time goes into a specific task. If your estate incurs taxes that could have been avoided, or if a contentious probate process drags out after you pass on, your loved ones may wish that you had spent the money to plan instead. It is worth paying for the planning, so that you know things will go exactly as you intended because you had the help of an experienced estate planning attorney. Take the time to find and hire a professional and respected attorney in your area. In the long run, you and your family will be glad you did. A professional estate planning lawyer will bring years of experience in managing estate planning matters in accordance with Taylorsville Utah estate law. Hiring the right attorney in Taylorsville Utah to plan your property and finances can ensure the safety of your finances so that your family will be able to take full advantage of them. Although estate planning lawyers can help you with a variety of issues, their main goal is to provide the best possible assistance in order to prepare your financial legacy. This way, you can have peace of mind knowing that you have prepared for your family and that they will not have to struggle with estate-related issues when you are gone. A reliable estate planning lawyer can help you to write your will and testament as well as set up a trust if required. They can also make sure that the estate and inheritance taxes are kept to a minimum by avoiding any delays in submitting documents. Even after your passing, your lawyer can continue to help by ensuring the executor of your last will transfers your assets to the correct beneficiaries. An estate planning lawyer can also supervise the probate process to prevent any issues or mistakes. Planning an estate can be an emotionally stressful process, making it difficult to make logical decisions. Therefore, an estate planning lawyer must be responsible and trustworthy to help you with drawing up a living will, assigning the power of attorney, or preparing any type of advance directive. Your lawyer should be your legal guide to help ease the process and make you feel comfortable. The Estate Planning ProcessIt is natural for many people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that only the wealthy require estate planning or that all that is involved is tax planning, which can be done later. They may well be wrong on both counts. Your level of wealth and the ultimate tax consequences of your estate become secondary to the planning and care of your family and other heirs. A well-structured estate plan is invaluable. Through it, you can control the distribution of your assets and possessions, as well as name guardians for your children or plan care for other dependents. While the estate planning process can raise some difficult emotional and personal issues, your heirs will be glad you did it, and you will know that your wishes are assured. Your first step should be to assemble a competent, professional estate planning team. Your attorney, financial service professional, insurance agent, bank trust officer, and/or accountant are all possible members of your team, depending on the size and complexity of your estate. They can help you complete an analysis of your current estate by looking at your financial position as of today and helping you analyze your family’s needs for the future. Does a family member have special needs or require medical attention? How much will an education cost when your children reach college age? How will your family’s overall cost-of-living requirements change? How will estate taxes affect your assets as they are currently held? The answers to these questions can help you develop an estate plan that will adequately provide for your family’s needs. What Information Should Be Gathered?A thorough estate analysis requires gathering any and all materials involving current or future income, property ownership, insurance, and legal arrangements already in place. This includes records of the following: Current and expected debts and obligations, including mortgage and loan balances, real estate liens, taxes payable, consumer debts, and estimates of funeral costs and estate settlement expenses. Once assembled, a complete analysis can begin, giving you the basis for a solid estate plan. Reasons You Need an Estate PlanWhile there are a variety of reasons why people decide to meet with an estate planning attorney and create an estate plan, here are the most valuable reasons. Essential Estate Planning DocumentsIf your current family and financial situations do not warrant the need for a revocable living trust, then your foundational estate plan will include the following four important legal documents: Estate Law In Taylorsville UtahEstate law is the body of law that concerns a person’s physical and personal property. Estate law involves planning for a person’s finances and property both during their lifetime and after. It’s a body of law that includes taking care of people and property. It can involve both transactional law and litigation. Estate law is all of the laws that impact how a person makes decisions and issues directives about their personal affairs. There are several different types of law that make up estate law. These types of law often intertwine. Estate law may involve any of the following types of law: WillsA will is a document that states what a person wants to happen to their property when they die. Each person has the right to decide who to give their property to when they pass away. They must deduct their debts from the value of their estate before they can total up their remaining assets to give to the people they choose. The state law where the person lives says what the rules are for creating a will. When a person dies without a will it’s called dying intestate. Each state has rules for what happens when a person dies without a will. An estate lawyer may help their client handle the estate or contest the distribution of an estate when a person dies without estate planning. TrustA trust is a legal instrument that allows someone to hold property that someone else owns for the other person’s benefit. A client might use a trust in order to minimize estate taxes and minimize the hassles that can go along with estate distribution. In other cases, a trust is helpful to manage assets for a minor or a person with disabilities. Attorneys help their clients determine if a trust is the right vehicle for them to reach their estate planning goals. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Probate Lawyers Taylorsville Utah Probate Lawyer West Valley City Utah Family Law Attorney West Valley City Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeWest Valley City, Utah
From Wikipedia, the free encyclopedia
West Valley City is a city in Salt Lake County and a suburb of Salt Lake City in the U.S. state of Utah. The population was 140,230 at the 2020 census,[4] making it the second-largest city in Utah. The city incorporated in 1980 from a large, quickly growing unincorporated area, combining the four communities of Granger, Hunter, Chesterfield, and Redwood. It is home to the Maverik Center and USANA Amphitheatre. [geocentric_weather id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_about id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_neighborhoods id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_thingstodo id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_busstops id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_mapembed id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_drivingdirections id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_reviews id=”02b3d746-3bff-4387-9149-f206cfe1d375″] The post Estate Planning Lawyer West Valley City Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/estate-planning-lawyer-west-valley-city-utah/ Family attorney is a person who deals with all the matters of families. No matter if it is a matter of marriage, divorce, child custody, property, ownership, etc. The Family-law attorney in West Valley City deals with all such matters. A Family attorney is out of the zone of the criminal justice system and works only under civil law. Whenever a person gets a problem in family matters, no matter how severe the condition is, a Family-law attorney is hired, not a criminal lawyer. A Family-law attorney has the massive responsibility of getting justice for his clients. Family lawyers can act as mediators when family disagreements develop. They can also represent litigants in family conflicts that end up courts. Below are some of the things that family lawyers can do. Parents with minor children who are facing divorce are usually primarily concerned with child custody matters. Getting enough family time with children after a divorce is vitally important to the health and happiness of any children and for the family as a whole. Each state has different laws regarding child custody matters, although most follow similar guidelines. Physical custody is the type of custody granted to the parent who lives with the child. Legal custody is the type of custody in which the parent has the right to participate in important life decisions for the child, such as schooling or religious affiliation. Both parents can have both types of custody. Sole custody occurs when only one parent is awarded custody for either physical or legal custody, or both. In joint custody, both parents share custody. In West Valley City, Utah, joint physical custody means each parent lives with the child for at least 111 days in a year. How a Court Decides CustodyIn West Valley City, Utah, a court presumes that joint legal custody is in the best interests of the child, absent a valid reason to the contrary. Such reasons could include domestic violence, having a child or parent with special needs or if there is a large distance between the living spaces of the parents. A court does not presume that it is in a child’s best interest to live with the mother or father based on the biological sex of the parent, but decides custody on the best interests for a particular child based on several factors involving the child and parents. When establishing what is in the best interests of the child, West Valley City, Utah family courts rely on several factors defined by state law. However, that list is not exhaustive, meaning that a court can take any information that it deems relevant when deciding child custody. Modifying a Child Custody OrderWest valley City, Utah state law recognizes that life changes occur after a divorce is finalized. While one custody arrangement may be appropriate soon after the divorce is final, changes in jobs, relocation and other matters may make a current child custody arrangement obsolete. A parent must petition to the court in order to modify a child custody arrangement. If the parents cannot agree on a change, the court will look to two factors when deciding whether to change the child support order: West Valley City, Utah Divorce LawsWhen a couple gets married, it’s generally a happy time in their lives and they don’t think about divorce. Despite this hope, sometimes divorce is necessary for the health and sanity of both parties. The old axiom of about 50% of marriages ending in divorce has been found to be inaccurate, but a good number of marriages still don’t last forever. If you have children, child custody and child support are important parts of the case that will keep you and your former spouse in family court until the children are adult that aren’t eligible for child support, which in Utah can be ordered until they’re 21 years old. No matter what your individual circumstances are, a couple seeking a divorce must comply with the following divorce laws before they are able to divorce in Utah. Residency Requirements: One party must be a bona fide resident of Utah for at least three months before commencing action. Members of the military who have been stationed in Utah for at least three months can also file for divorce there. Waiting Period: A divorce matter won’t be heard by the family court until at least 90 days from filing the complaint asking for a divorce. In extraordinary circumstances, this waiting period can be waived. A divorce decree becomes absolute on the day its signed by court and entered by the clerk, however, not that the judge can extend the date in which it becomes absolute for up to six months for good cause either by application of either party or at his or her own decision. “No Fault” Grounds for Divorce: Utah has two no fault grounds for divorce, first irreconcilable differences which is a loose cover-all for just no longer getting along and wanting to break up. The second no fault grounds is being legally separated and not cohabitating for at least three years. Fault Based Grounds for Divorce; Utah still maintains fault based grounds for divorce, these can affect the amount that’s distributed to each spouse under the state marital property laws. These fault-based grounds are: Temporary Separation OrderA person can ask the court for a temporary separation order that is valid for one year or until the divorce is filed or the case is dismissed. West Valley City, Utah Child Custody LawsWhen a couple with children breaks up, the responsibility to care for the children must be shared by both parents. An important aspect is child custody or with whom the child will live with and what visitation with the other parent will be like. Another part of this responsibility is financial support, in the form of child support. West Valley City, Utah family courts, like those in most states, determine child custody matters using the “best interests of the child.” The factors considered by the judge include: Utah Marital Property LawsDuring marriage, couples acquire the rights to some of the property and assets, as well as debts, acquired by one or both of them. Marital property doesn’t include things that are considered separate property owned by either spouse, for example, property owned before marriage, inheritance, gifts, property specifically excluded by valid prenuptial agreements, and property gained after legally separating. In addition, keep in mind that you are also on the hook still for your separate debts from before marriage. Equitable Distribution vs. Community PropertyWes Valley City, Utah is an equitable distribution or common law state, which is the majority marital property legal system. However, large numbers of people, live in community property states. This means marital property in West Valley City Utah isn’t automatically assumed to be owned by both spouses and therefore should be divided equally in a divorce. In West valley city, Utah, marital property is divided “equitably” or fairly, which may not be an even 50-50. Usually for longer marriages, it is about 50% to each party. For short-term marriages, the court generally puts people back to their position before the marriage, such as giving people what they had before the marriage and typically what they made during the marriage. Parties can agree on how they want to divide the property outside of court, but a judge will review it to ensure it’s fair. West valley City, Utah Child Abuse LawsCriminal statutes are in place to keep people safe. Utah’s child abuse laws are designed to protect children from harm by prohibiting the physical, emotional, and sexual abuse of children. These child abuse statutes assist in prosecuting child abusers and mandate certain third parties and professionals with access to children to report knowledge or suspicion of child abuse to the authorities. Utah’s Department of Child and Family Services also provides resources statewide to protect the welfare of children. West Valley City Utah Child Support GuidelinesFamily law courts in Utah determine how much child support a non-custodial parent (a parent who doesn’t live with their minor child) is required to pay by using the state’s child support guidelines. These guidelines take into consideration both parents’ gross incomes and the number of children that they have together. The court will follow the child support guidelines unless there is substantial evidence to rebut the guidelines. In order to determine whether or not to deviate from the guidelines the court will consider: Reasons to Hire a Family Law Attorney• Handling Divorce Issues: Undergoing a divorce is probably one of the most draining experiences that a family can face. Emotions may set in and make it impossible for a couple to settle it calmly. In such a case, a family law attorney can act as a mediator, and assist them to approach the issue rationally and within the law. In other words, a competent family law attorney can assist couples in the process of divorcing to settle the matter fairly without necessarily going to court. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Estate Planning Attorney Cedar City Utah Probate Lawyers Taylorsville Utah Probate Lawyer West Valle City Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeWest Valley City, Utah
From Wikipedia, the free encyclopedia
West Valley City is a city in Salt Lake County and a suburb of Salt Lake City in the U.S. state of Utah. The population was 140,230 at the 2020 census,[4] making it the second-largest city in Utah. The city incorporated in 1980 from a large, quickly growing unincorporated area, combining the four communities of Granger, Hunter, Chesterfield, and Redwood. It is home to the Maverik Center and USANA Amphitheatre. [geocentric_weather id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_about id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_neighborhoods id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_thingstodo id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_busstops id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_mapembed id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_drivingdirections id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_reviews id=”02b3d746-3bff-4387-9149-f206cfe1d375″] The post Family Law Attorney West Valley City Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/family-law-attorney-west-valley-city-utah/ Probate refers to the process whereby certain of decedent’s debts may be settled and legal title to the decedent’s property held in the decedent’s name alone and not otherwise distributed by law is transferred to heirs and beneficiaries. If a decedent had a will, and the decedent had property subject to probate, the probate process begins when the executor, who is nominated by the decedent in the last will, presents the will for probate in a courthouse in the county where the decedent lived, or owned property. If there is no will, someone must ask the court to appoint him or her as administrator of the decedent’s estate. Often, this is the spouse or an adult child of the decedent. Once appointed by the court, the executor or administrator becomes the legal representative of the estate. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Estate Planning Attorney Brigham City Utah Estate Planning Attorney Cedar City Utah Probate Lawyers Taylorsville Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeWest Valley City, Utah
From Wikipedia, the free encyclopedia
West Valley City is a city in Salt Lake County and a suburb of Salt Lake City in the U.S. state of Utah. The population was 140,230 at the 2020 census,[4] making it the second-largest city in Utah. The city incorporated in 1980 from a large, quickly growing unincorporated area, combining the four communities of Granger, Hunter, Chesterfield, and Redwood. It is home to the Maverik Center and USANA Amphitheatre. [geocentric_weather id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_about id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_neighborhoods id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_thingstodo id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_busstops id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_mapembed id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_drivingdirections id=”02b3d746-3bff-4387-9149-f206cfe1d375″] [geocentric_reviews id=”02b3d746-3bff-4387-9149-f206cfe1d375″] The post Probate Lawyer West Valley City Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/probate-lawyer-west-valley-city-utah/ When a person dies, the administration of their property must be done according to the deceased’s will. In cases where the deceased had no will, the government has the mandate to determine the beneficiaries of the deceased’s estate. In most cases, the deceased’s assets will be the property/estate they owned including their main residence. The idea of disposing of property is what often leaves executors of the will with much thought. This calls for them to obtain permission to legally wind up the deceased’s estate. This is where probate comes in. It is the official legal document that executors of the will require to wind up the estate of the deceased. This document is usually issued to executors whose names appear in the will or close family members in the case where there is no will. It serves as a confirmation of their legitimacy to administer the estate. It may be referred to as Grant of Probate where the deceased had a will or Grant of Letters of Administration where there was no will. What Does A Probate Lawyer Do In Taylorsville, UtahWhen a person passes away, their assets must be disbursed in a manner consistent with state laws and following the directions they put forth when they were alive, as stated in their will. A probate lawyer guides the executor of will or beneficiaries of an estate through the probate process: From identifying estate assets and beneficiaries to distributing assets and inheritances. A probate lawyer is a state licensed attorney who works with the executors and the beneficiaries of an estate to settle the affairs of the decedent. In some instances, probate can be avoided if all the decedent’s assets have been placed in a trust. A trust can ensure a smooth transfer of property outside of court and legal proceedings. A probate lawyer is also known as an estate attorney and will be involved in different ways depending on the particular circumstances of that estate. Their involvement will depend on the value of the decedent’s assets and whether or not they had a last will and testament at the time they passed away. In cases where no will exists, beneficiaries file claims and sue for what they believe they are entitled to. In situations where there is a will, challenges may arise as to the validity of the will, also leading to possible litigation. Specifically, here are some of the common tasks a probate lawyer may assist an executor and beneficiaries with during the probate process: Paying a Probate Lawyer: Costs & Types of FeesOne of the reasons that many people find hiring a probate lawyer intimidating is that there’s no price tag in sight. Many clients literally have no idea how much they might end up owing. But the process doesn’t have to be so mysterious. If you’ve found that you need expert help, first become familiar with the different ways lawyers charge. Second, protect yourself by getting a written fee agreement from the lawyer. Who PaysRemember that the estate pays the probate lawyer’s fee—it doesn’t come out of the executor’s pocket. Of course, if you are both the executor and the only inheritor, then the fee does, in essence, come out of money that is soon to belong to you. Otherwise, the cost is taken from the estate before assets are distributed to the people who inherit them. Probate “Costs” or “Expenses” vs. Legal FeesCosts are how lawyers refer to all the miscellaneous expenses that arise during a probate or other court proceeding. They can add up to a considerable sum, depending on the circumstances. Some examples include court filing fee, postage, publication of legal notices in the newspaper, property appraisals, and recording fee for real estate deeds. There are three main ways that lawyers charge for probate work; legal communities in different parts of the country have different customs. The lawyer may also offer you a choice of ways to calculate the bill. By the HourProbably the most common way for probate lawyers to charge clients is to bill by the hour. Hourly rates vary depending on where you live and how experienced (and busy) the lawyer is. In a rural area, you might be billed $150/hour; in urban areas, you’re more likely to see rates of $200/hour and up. Specialists charge more per hour than do general practitioners, but they’re likely to be more efficient. If they’ve filed probate paperwork a hundred times in the local court, they’ve probably figured out how to do it quickly and in a way the court will accept. Because so much of the typical probate case is just standard paperwork, most attorneys use paralegals to help them. Paralegals aren’t lawyers, but they’ve had special training or have simply learned from the attorney how to prepare certain documents. The attorney supervises their work and typically bills their time at a lower rate. Flat FeeAnother popular billing method is the flat fee. An attorney who’s done a lot of probates knows about how long the work takes, and charging a lump sum means the attorney doesn’t have to keep careful records of how the lawyers and paralegals spend their time. Some attorneys also find that clients are more relaxed and comfortable dealing with the attorney when they know the meter isn’t always running. If you are quoted a flat fee, make sure you understand what it covers. It likely won’t include extra costs such as court filing costs or appraiser’s fees. And if you have a complicated case involving a will contest or an estate tax return, for example; the fee will go higher. Percentage of the EstateIn a few states, lawyers are authorized by law to collect a percentage of the value of the estate as their fee. They’re not required to do so you are free to negotiate an hourly rate or flat fee with them. But many prefer it because it usually pays so well in relation to the amount of work actually required. One of the reasons these fees are so often unreasonable under the circumstances is that they are based on the gross value of the probate assets, not the actual net value. For example, if the estate contains a house worth $300,000, but there’s still $100,000 left on the mortgage, the lawyer’s fee is based on $300,000 not the $200,000 of equity. Also, it’s not usually more difficult to prepare probate paperwork for a $700,000 house than it is to prepare it for a $150,000 house—so why should the fee be so different? Just for an example, take a look at Taylorsville’s statutory fee schedule: A probate estate with a gross value of $500,000 would generate $13,000 in legal fees. If you were paying by the hour, you could get a lot of hours of the attorney’s work for that much money. Protecting Yourself: Fee AgreementsWhen you hire an attorney on behalf of the estate, get a fee agreement in writing. It’s required by law in some states, and it’s a good idea no matter where you are. The agreement should state: the hourly fee of each lawyer and paralegal who may do work for you, an estimate of the total cost or number of hours, other costs you may need to pay (including court fees, postage, publication and so on), how often you will be billed, when payment will be due, and how detailed the bill will be (each item should be described, so you don’t just get a bill for unspecified “legal services”). As an executor of a Will and having Grant of Letters of Administration, you have the responsibility of managing the estate of the deceased efficiently. You may have to liquidate the assets before distributing the assets according to the will or in some cases pay up inheritance tax that may be due. This means you first need to establish the value of the property before calculating the value of the estate for Inheritance Tax Purposes, therefore, it makes sense to get the property on the market even before being granted probate. Here, you can engage a qualified estate agent to give you a valuation of the property. The Revenue Office recommends that you obtain at least three valuation reports. Make sure you inform the estate agent that the property is in a probate sale as this helps to manage the expectations of potential buyers. The value of the property wills often for a significant part of the worth of the deceased’s entire estate that includes investments, cash, contents from the property and insurance. Before anything else, it is important to establish if the deceased has any outstanding debts that are also referred to as liabilities. This includes utility bills, the funeral account as well as Council Tax and any other sums owed to friends or family members. These (liabilities) will be deducted from the worth of the assets held. It is then that a determination can be made on whether any Inheritance Tax is payable. This forms part of the overall process of applying for a grant hence the need to ensure the accuracy of all the figures that are provided. In some cases, you will have to do some work on the property before putting it up on the market. It could be that the property needs good airing and cleaning, planting some flowers to brighten it up or giving it a new coat of paint. All these efforts will ensure that you fetch the best price. Once you are ready, you must engage a conveyancing solicitor to carry on with the sale of the property. Make sure they know that they are dealing with a Probate sale just so that they are aware. When you finally obtain the Grant of Probate, you can go ahead and exchange contracts. At this point, the buyer is legally bound to purchase the property. This means that you have secured a sale. In the buyer pulls out, they will incur a fee. Probate is needed in cases where the deceased was the sole owner of the property. If you need to sell property in such a situation, you can go ahead and list it on the market and even accept offers before obtaining the Grant of Probate. However, you can’t complete the sale until you receive the probate. There are unique circumstances where the property may be sold without probate. For instance, if the deceased had a partner or spouse with whom they jointly owned the property and whose name appears on the title deeds, then the property may be sold off if the surviving partner would like it to be disposed of. If the deceased was a tenant in common with another person with separate percentage shares, the property will be part of their estate. Consequently, it has to be passed on to those that are entitled to inherit as per the Will or Rules of Intestacy in cases where there was no Will. In this case, probate will be needed. In cases where the deceased was a joint tenant hence neither person owned a specific share of the property, neither is probate required not the property sold. Instead, the property is automatically transferred to the surviving owner. While some executors go ahead and exchange contracts in the absence of the Grant of Probate, this is not right hence a rare practice. Contracts should be exchanged only after obtaining probate. The only time executors can exchange contracts without probate is if they are sure the Grant of Probate will be issued in time for completion. Even then, this option too is considered to be high risk. Selling a property that is under probate can sometimes be challenging because of the following reasons: Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Estate Planning Attorney American Fork Utah Estate Planning Attorney Brigham City Utah Estate Planning Attorney Cedar City Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeTaylorsville, Utah
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Taylorsville is a city in Salt Lake County, Utah. It is part of the Salt Lake City metropolitan area. The population was 60,448 at the time of the 2020 census. Taylorsville was incorporated from the Taylorsville–Bennion CDP and portions of the Kearns metro township on July 1, 1996. The city is located adjacent to Interstate 215 and Bangerter Highway. It is located in the middle of the Salt Lake Valley. [geocentric_weather id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_about id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_neighborhoods id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_thingstodo id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_busstops id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_mapembed id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_drivingdirections id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] [geocentric_reviews id=”ae7d9be7-8fc3-453f-9c25-0ba7410d98f8″] The post Probate Lawyers Taylorsville Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/probate-lawyers-taylorsville-utah/ Are you about to consider estate planning? What is estate planning by the way? Estate planning is the process of organizing the distribution of one’s assets to their heirs or beneficiaries. This is especially considered when an individual wishes to provide legal rights of his or her property in the event that he or she dies. Family members, friends, business partners or even an anonymous third party person can be entitled to become an heir or a beneficiary. There are things that are important for the success of estate planning. One thing involve in this undertaking is the search for the best estate planning lawyer. Consulting an estate-planning lawyer entails not only with manufacturing a will but also ensuring that the client’s requests regarding his or her property distribution would be granted upon death. Furthermore, an estate-planning lawyer will do more than just establishing a client’s legal will because in the process of doing so, he or she must also be adept at minimizing taxes and fees associated with personal or real property. A contingency plan should also be set up in case unwanted events like family or legal disputes arise. Other aspects that an estate-planning lawyer will deal with involve trusts, uniform probate code, gift tax, dynasty trust as well as joint tenancy. Besides just giving assistance to an individual’s will, an estate-planning lawyer can also help you with organizing any personal or business records like brokerage accounts, retirement plans, savings accounts, checking accounts, insurance, business interests, and even debt personal property. Any miscellaneous legal planning involved in the process of planning an estate is a concern and part of the duty of an employed estate-planning lawyer. Now, when you look for an estate-planning lawyer you must consider first of all his or her educational background and work experience. The best estate-planning lawyer must be very educated and experienced particularly in the field of estate planning and strategies. It is imperative that your estate-planning lawyer is familiar with state laws since each state has varying laws when it comes to wealth distribution. Moreover, he or she must have excellent knowledge on how to get rid of excessive probate or estate tax while keeping himself or herself up to date with the ever-changing tax and estate laws. Of course, when choosing a qualified estate-planning lawyer, consider one that possesses a strong record. Determine by asking how long they have been specializing in estate planning. Search for one that has license to practice law in your state of residence. Actually, you can search for one by asking referrals from your close family and friends. If you are faced with end of life decisions after you have lost a loved one, seek help from a reliable and affordable estate planning attorney in Cedar City Utah. Estate Planning Attorneys Help Clients Avoid Disputes Over Property And Assets Hire Estate Attorneys Now To Avoid Litigation Lawyers LaterOne of the most common causes of disputes over Wills and Trusts that prompt beneficiaries to hire a litigation lawyer is the notion they have been treated unfairly when it comes to their share of an inheritance. A professionally drafted Will or Trust can legally protect a deceased one’s final wishes, with the exception that some Wills can be contested in the courts. This is why it is especially important to hire an experienced professional who specializes in elder law to draft any documents pertaining to inheritances. Having a clause within a Will or Trust that specifies that heirs are to divide the assets amongst themselves can be another cause for courtroom showdowns. Even if it was the intention of the testator to avoid perpetuating the idea of favoritism by leaving specific possessions to certain beneficiaries, this tactic is known to cause more grief than good. In an effort to minimize the chances of a litigation lawyer becoming involved in the dispute, many estate attorneys advise their clients to divide their assets themselves and select which heirs receive which items, and how much each one is entitled to. Intentional disinheritances should always be included in a Will or a Trust. Although it may be a tough decision to make, specifying individuals that they do not wish to inherit their property can leave little to no room for argument when it comes to the benefactor’s property and possessions. This is a very important measure to take – it not only protects the assets that are at stake, but also all of the other beneficiaries involved. Avoiding Conflicts Of InterestOne rule to follow is to hire separate attorneys for each individual included in the planning process. This is the easiest way to avoid accusations that the lawyer may be favoring one person over others. While it may sound great in theory to have a group estate attorney that works on behalf of an entire family or set of beneficiaries, the fact is, it can lead to a whole new set of problems. Investing in a private estate attorney right away can limit the need for litigation lawyers down the road. In addition to retaining private counsel, clients should also consider hiring an executor outside of the family or group that will be inheriting property. Designating an heir to be the sole executor can quickly become a conflict of interest. Any charges of abuse of power can quickly be dismissed when the executor has no personal stake in their position. Why You Need an Attorney for Estate PlanningIf you believe estate planning is something you can do on a do-it-yourself basis, you might want to think again. The estate tax relief legislation raised the value of property that could be left free of estate tax by an individual to $5 million adjusted for inflation each year. Another crucial change involved reducing the highest federal estate tax rate to 40 percent. As a result, an increasing number of people want to avoid paying for the services of an attorney for this type of law. What they don’t realize is that estate planning is a complex business. All it takes is a single missing signature or incorrect word to alter a will or trust’s entire content. Keep reading to discover three compelling reasons why it is necessary to hire an attorney for estate planning. Specific State LawsEvery state has its own laws when it comes to determining who can and can’t be in a trust, will, medical power of attorney, or financial power of attorney. There are also differences between the formalities that need to be observed when signing an estate planning document. What is required in Cedar City Utah may not be necessary in Arizona and vice versa. For example, some states require a personal representative to be related by marriage or blood, or else they need to be a resident of the state. Failure to meet the above criteria means that individual will not be allowed to serve as personal representative. Caveat EmptorThis is an old Latin saying that means “buyers beware.” The evolution of the Internet has led to a plethora of legal documents easily available online. This may make legal representation appear unnecessary. The trouble is that you can fill in your online forms quite happily, only to discover that part or all of your trust, will, financial power of attorney, or medical power of attorney is either invalid or doesn’t work as you expected. If this happens, your family may need to pay thousands of dollars to fix the mistake and will end up hiring an estate planning attorney in any case! ComplexityAs we mentioned above, estate planning is a complex business, and if you own a business, are in your second marriage, have no children or children who are still minors, want to leave money to charity, or have real estate in another state, you will need the advice of an estate planning attorney. Indeed, there are dozens of other situations not outlined above where things can get complicated quickly. Regardless of how much research you have performed, you are likely to be lacking legal expertise, and this could prove costly. If you are unwilling to pay for an estate planning attorney in a bid to save money, it is likely your family will spend 3-5 times more money on the back-end. In order to make things easier for your loved ones and to alleviate any stress you may feel, get in touch with a trustworthy real estate attorney today. How to Find the Best Estate Planning Attorney for Your FamilyThe importance of proper estate planning need not be stressed. When you hear the word estate, it refers to everything you worked hard for. Your home, money in bank accounts, investments in stocks, mutual funds and bonds, cars, life insurance, business and others. Without proper estate planning, your beneficiaries will most likely be inconvenienced with all the requirements in settling your estate. • Professional: You should hire a Cedar City Utah estate planning lawyer that is highly professional. Aside from being state-licensed and having an extensive experience in estate planning, your lawyer should value your importance as a client and establish a great relationship with you. Your Cedar Utah estate planning lawyer should also provide you with counseling together with excellent listening skills. Of course, you will need to have an estate planning lawyer that you can talk to on all levels and will maintain proper attitude at all times. In some cases, you will need to discuss with your lawyer sensitive issues involving your family and your lawyer should remain objective and respectful of your wishes. With all these qualities, you can be sure that your estate plans will be completed and executed as you wanted. Estate Planning Attorney: Preparing for a MeetingYou don’t technically need to do anything to prepare for a meeting with an estate planning attorney. Just having taken the step to set up a meeting is more than many people take, and you should be proud and confident in your decision to move forward with responsible financial progress. One of the worst things a person can do to their heirs is to leave their assets in disarray. More often than not, it leads to infighting, resentment, and family problems that can last a long time. You can avoid all of that by making specific plans ahead of time. While you can think through specific decisions with your lawyer, here are some things you may want to discuss prior to your meeting. GuardianshipIf you have kids under the age of 18, one of the first things you need to think about is who act as their guardian should you will be unable to. So many parents fail to think of this, and it can have dire consequences for the child. You don’t want your child to wind up as a ward of the state, moving through foster homes, and experiencing a very unstable life after you’re gone. No one likes the idea of preparing for the worst, but you should do so. Think about who will take care of your kids before meeting with your estate planning attorney, as this is one decision he’ll be unable to help you with. FinancesIf you were ever to reach the point where you couldn’t handle your own finances, who would you want put in charge of them? Some feel comfortable entrusting financial control to an estate planning attorney or another professional in the field. Others want control handed over to a relative. This is up to you, but it is another important thing you need to think about. When you’re healthy and loving life, it seems nearly absurd to consider such an unlikely scenario. But it happens all the time. Make arrangements while you’re of sound mind.< Your HeirsWhat will become of your money, assets, and property after you’ve died? For those who have none of these things (and there are certainly more than a few people who can say this), it is of little concern. But if you have savings and ownership of property, you need to consider who will receive it should you pass away. This is something you can discuss with an estate planning attorney, but it is a decision you’ll ultimately have to make on your own. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Estate Planning Attorney Alpine Utah Estate Planning Attorney American Fork Utah Estate Planning Attorney Brigham Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeThe post Estate Planning Attorney Cedar City Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/estate-planning-attorney-cedar-city-utah/ When considering various aspects of your life as you know it, and how you want it to look now and after you’re gone, let’s review a few things to get you started. Have you decided to meet with an estate planning attorney to create an estate plan? Are you leaning toward drafting up a will with the help of anyone? ProbateProbate is the court supervised process of locating and determining the value of assets in the individual name of the deceased person, referred to as a “decedent”, paying the decedent’s final bills and estate taxes and/or inheritance taxes (if any), and then distributing what’s left of the decedent’s assets to his/her heirs.” There have been many horror stories about probate (time involved, complications, etc) and in some states (like Utah) all property owned will go into probate automatically, unless there is an established Trust. Take a look at your state’s regulations and assess how you wish to proceed in protecting your assets as best you can. Estate Taxes -what is this? Federal and of State, estate and/or inheritance taxes can take a chunk out of what’s left after we die. Prudent planning in advance by single and married people can reduce estate taxes. Common Estate Planning Mistakes – How to Avoid Them• Misuse of Jointly Held Property – jointly held property may become a nightmare in terms of unexpected tax and nontax problems First, there is the potential for federal and state gift tax upon the passing of one joint tenant if the property is jointly held with a non-spouse or a non-citizen spouse; Will MistakesDying without a valid will is once of the biggest mistakes we see, and one of the easiest to avoid. Without a valid will, the result is “intestacy” which means the state will decide who gets what. The second most common mistake involving wills is failing to update them. Review your will a minimum of every three years, and after any major life change (marriage, birth of child, divorce, move to a new state, etc.). Failure to Maintain Adequate and Easily Accessible Records – More than one executor has been driven crazy trying to locate necessary financial documents. And the search for and/or inability to find the same can end up costing an estate thousands of dollars. Instead of hiding your important financial documents under your mattress or in various random places, take out a safe deposit box. Make sure your executor knows where it is and how to access it. Estate planning is a term that is thrown around a lot. And although everyone agrees you should do it, what it is is never quite explained in thorough detail. Perhaps that is why so many people put off the task of planning an estate and writing a will until the last minute or, worse, until it is too late. Let’s detail not only what estate planning is but also what the end goals of planning your estate should be. Estate planning spans a range of fields, including the drafting of a will, establishing trusts, reducing taxes, advance medical instructions, instituting powers attorney, appointing trustees, and business succession planning. It involves creating a fully detailed plan that transfers your assets to their intended beneficiaries upon death. While it should be well-structured, it must also make room for flexibility. Goals and RewardsThe goals of planning your estate and crafting a will are to reduce legal problems, avoid expensive litigation, and reduce taxes. This, for all its legal complexity, requires the assistance and guidance and expertise of seasoned legal professionals who specials in wills and estates. Comprehensive financial and asset management is offered during this process to ensure that no loopholes are left untied and no details are left out, which may prove to detrimental to these goals in the end. Before You Start Planning Your EstateYou will need a lawyer whom you trust. If you do not already have a lawyer, find one in your area who specializes in estates and wills, specifically, to help you create a solid strategy that fits your unique needs. Don’t be timid! If you are not sure you have found the right legal representation, treat your first meeting with them as an interview. Ask questions and don’t be afraid to ask for references from current clients. In planning your estate and creating a will, you have a variety of options, which you can only utilize with the help of a legal team. It is wise to contact legal representation in your province and, more specifically in your region. Find a lawyer who specialized in the area of wills and estates in your area. Laws can differ from province to province so it is imperative to find one who knows local, provincial and federal laws, not to mention the loopholes that can either negatively or positively impact your efforts and goals. A great lawyer will help you to devise a strategy that is fully in your favour, and takes full advantage of all estate laws. Getting StartedWhen creating an estate plan, it often starts with a listing of your assets your property, investments, and pensions. This should be followed by a list of liabilities and debt. There must be a main objective when making a plan whether to give to charity or to transfer properties to specific individuals. There should also be a list of conditions and events that you want to avoid at all costs, to prevent family disharmony. In filling the technical details of what to do for each step, the assistance of a lawyer is recommended. Unfortunately, most people living in Brigham City do not have a will for a variety of reasons, ranging from procrastination to sheer lack of knowledge of the law. If a decedent dies without a will in Brigham City Utah, the law of intestacy will take into effect, leaving little room for discretion and flexibility and a wide opportunity for discord among the loved ones left behind. It’s much more affordable and practical to have a will, no matter the size of your estate. Revocable Trusts in Estate PlanningAn increasing number of people are utilizing the revocable living trust as the primary document in their estate plans. A revocable living trust is an entity created during lifetime in which an individual (called a trustee) holds legal title to property on behalf of a beneficiary, who is typically the individual establishing the trust (or the grantor). It is a revocable trust because the grantor, at all times and for any reason, retains the absolute power and right to revoke the trust, or to otherwise amend or change the trust terms in any fashion. In addition, the grantor may withdraw the trust assets at anytime by taking the properties back into his or her individual name. The living trust is beneficial because it permits an individual to transfer title of his or her assets now, but that transfer is not to the individual’s beneficiaries, but rather to the trust entity. In fact, the re-titling of assets during lifetime is generally considered to be the revocable trust’s principal advantage since assets held by the trust will not be subject to court supervision. Furthermore, the grantor typically serves as initial trustee so as to maintain complete control over the management of the assets. In the event of an incapacity or illness, a successor takes over as trustee to manage the trust and otherwise provide for the grantor, without the necessity of seeking the appointment of a legal guardian to take title to his or her assets. Upon death, the successor trustee would be in charge of the assets without the necessity for probate proceedings. If probate were required, delays in transferring the properties to one’s family and the potential for additional legal, accounting and court costs could result. Without court involvement, the trustee can expeditiously transfer the assets in accordance with the grantor’s wishes, which will remain private, as a trust agreement need not be deposited with the probate court at death. The trust will often contain significant tax planning provisions as well as terms of ongoing trusts for the grantor’s family. This arrangement could permit the grantor’s assets to be kept together in one piece for the family’s benefit for a period of years. In addition, the trust could also provide for the protection of the properties from creditors or claims against the family. While the revocable trust will, in effect, take the place of a Last Will and Testament, in that the trust will provide for the disposition of the grantor’s assets at death, a Will is nonetheless a necessary instrument in every estate plan. If a trust is established, but one’s assets are not properly transferred to the trust during lifetime, a Will would be required to direct the disposition of assets at death. In an estate plan that includes a revocable trust, a Will could merely provide that any assets that might be titled in a grantor’s individual name pass to the trust to be held by the successor trustee under the general provisions of the grantor’s estate plan. Moreover, a Will would name a guardian for any minor children. Notwithstanding the advantages of the revocable living trust, it is not appropriate or necessary in every instance. Therefore, any person interested in exploring the applicability of a revocable trust in their estate plan should consult their attorney. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Estate Planning Attorney In Provo Utah Estate Planning Attorney Alpine Utah Estate Planning Attorney American Fork Utah Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah OfficeThe post Estate Planning Attorney Brigham City Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/estate-planning-attorney-brigham-city-utah/ Estate planning is an important process, where you will be legally documenting your assets and property sharing decisions. Your ‘Will’ will be legally executed by your attorney after your death. Property planning can also be a crucial step to secure your financial future too, as almost all companies have abandoned the pension and retirement plans. The estate planning can be of any type, such as a will trust, power of attorney, power of appointment, property ownership and etc. At some point of time, it becomes important to decide what your descendants should get from you, after your death. It helps you resolve your worries regarding your assets, and it gives you with the peace of mind in the golden period of your life, after the retirement. Why Estate Planning is NecessaryThere is no individual on this planet who can predict death, as it is something that is not really in our hands. In the first place, it may seem less important for small estate owners. However, it is still important to secure your estate, whether you are a landlord or a small property owner. A proper estate plan may help in reducing the taxes and other acquisition expenses, after one passes away. The Right Person to Perform Estate PlanningThe firm or individual who is going to plan your estate should be qualified and knowledgeable, and they should have the track record of professional experience in the field. They generally offer their services as financial planners, trust and estate practitioners, chartered financial analysts, estate planners, etc. However, you will need to make sure if they are certified and are licensed for the job. Tips For Estate Planning In American Fork, UtahThere are several aspects and key elements of planning your estate, which can help you to minimize the worries and maximize the inheritance benefits to the beneficiaries. • Specific Declarations – Probably it is the most critical aspect of estate planning. The failure in planning may give rise to legal problems, and your actual beneficiary may not be able to acquire the estate. The declaration of property sharing should be clear and specific. Being Open MindedEstate planning is not a complicated process, but you are planning for things to be done, after you are gone. Instead of thinking too much and complicating it, it is always wise to be open minded and consider how best you can help your family members. You must believe in securing their future. Also, make sure that you revisit the estate plan periodically, for ensuring if the names of your beneficiaries and their shares, are still in line with your current thoughts or not. How to Avoid Estate Planning Mistakes In American Fork, UtahEstate planning is important; without one, your loved ones may have to wade through tedious legal procedures after you die and your final wishes may not be recognized by state probate and intestate laws. In fact, the most common mistake people make when planning their estates is not actually taking the time to plan. To ensure that your last wishes are acknowledge, talk to an attorney and begin planning for the security of you loved ones today. It is important to name a legal guardian for your minor children in your estate plan. Until now, you may have assumed that estate planning only involved your personal belongings and financial assets. This is false. Without an assigned, legal guardian, the state will decide who raises your children if you die before they reach legal adulthood. You can only assigned guardianship in a will. Avoid this mistake by making sure that your children’s future is protected in your estate plan. Joint ownership is another mistake that people make when planning your estate. It is not unusually for elderly people to add an adult child to the title of their belongings and assets to avoid complicated legal procedures after they pass away. This may be problematic for several reasons. First, joint ownership decreases the amount of control you have over you estate – you might even lose some of your assets to your joint owner’s creditors or ex-spouse. After you die, your assets will probably be distributed via the probate process. If you have a will, your loved ones cannot receive their inheritances until probate is complete. One common mistake made by individuals planning their estates is failing to avoid probate. Probate is tedious, but you may be able to avoid it by establishing co-ownership, beneficiary designations or a revocable living trust. Because co-ownership is not preferred, the best way to avoid probate is through a living trust. Estate planning can take effect before you die. If you become seriously ill or incapacitated before you pass away, your estate may fall into the hands of your beneficiaries. For example, if you suffer a stroke and are unable to manage your assets, someone else will be appointed to take care of them. If you plan ahead for incapacity, you are able to control who will be in charge of you estate if you become seriously. Additionally, you may include instruction for your medical care in the event of serious incapacitation. Using a qualified attorney to help you plan your estate is imperative. Avoid using kits, online programs, or attempting to plan your estate by yourself. An experienced attorney can help you understand the estate planning process, help you avoid probate and give you peace of mind about the future of your family, belongings and financial assets. Estate planning involves a variety of tedious laws, statutes and regulations. Protect your final wishes by having a knowledgeable lawyer on your side. Estate planning isn’t a one-time event. As your wishes, financial circumstances and other variables change, you may wish to adjust something in your plan. For instance, if a specific charitable organization becomes significant to you, you may want to leave a gift for it when you die. Your personal wishes and circumstances are always changing; your plan should too. If you have questions about estate planning, writing a will or establishing a living trust, talk to an attorney today. Having a knowledgeable lawyer guiding you through the estate planning process can help you secure the future of your assets, family, and ensure that your final wishes are executed correctly. Estate Planning Traps and How to Avoid ThemIf you’re thinking about setting up an estate plan in American Fork, you probably want to accomplish one or more of the following goals: Even with the best of intentions, however, there are many estate planning traps that can sabotage your goals. Below are common estate planning mistakes that can undermine your estate plan, and advice on how to avoid them. Remember, your estate plan will speak for you when you cannot, so it’s imperative to get it right. Always seek the guidance of a certified elder law/estate planning attorney. MISTAKE 1: Permitting the provisions of your will to conflict with the beneficiary designations of your assets. Why it’s a mistake: Your beneficiary designations trump your will. For example, if your will says that your two children will share everything equally, but you name only one child as the beneficiary of your largest asset, that child will inherit the asset in its entirety. That’s not much of a foundation for family harmony! MISTAKE 2: Believing that your will provides protection if you become disabled. Why it’s a mistake: A will is a death instrument only. Basically, it’s a blueprint that describes who will get what asset after you’re gone. A will has absolutely no impact on what happens if you become incapacitated. If you haven’t made legal provisions for incapacity and you become incapable of making your own personal, financial and medical decisions, you could find yourself the subject of a costly court guardianship. MISTAKE 3: Making one or more children co-owners of your assets in order to avoid probate of the asset. Why it’s a mistake: Even if you have implicit faith in your child’s integrity, if he/she runs into financial difficulties, your child’s creditors could go after your assets. Co-ownership also means that after you die, that asset will belong to your child, which may be in conflict with your will or trust MISTAKE 4: Creating a living trust (aka revocable trust) but failing to transfer your assets into it. Why it’s a mistake: A revocable trust can offer many benefits – for example, probate avoidance – but it remains just a piece of paper until it is “funded.” Funding means that the trust actually owns your assets. (Note: Certain assets should not go into your living trust while you’re alive, but may pass into your trust when you pass away. Examples of such assets are your 401k, 403b or IRA.) How to avoid it: Consult your elder law attorney about what assets belong in your trust. Then contact your financial institutions to retile the appropriate assets into the name of your revocable trust. MISTAKE 5: Leaving specific assets to specific people. Why it’s a mistake: Other than certain pieces of personal property – jewelry, for example – it’s generally a bad idea to leave certain assets to certain people. The reason: the value of the asset may fluctuate, skewing the value of what gets passed down to your heirs. By way of example, let’s say you want your son and daughter to share your estate equally. You leave your $200,000 house to your son and your brokerage account of $200,000 to your daughter. However, over time, if the value of one or the other asset changes, your children could end up getting significantly unequal shares of your estate. How to avoid it: Generally speaking, it’s better to leave your heirs percentages of assets rather than specific assets. MISTAKE 6: Assuming that your child with the most business experience is the best candidate to serve as your Personal Representative, Trustee, or Agent. Why it’s a mistake: Most people appoint one or more of their adult children as fiduciaries, but overestimate the importance of business acumen. In reality, of equal or greater importance is general trustworthiness, and having the time to do the job properly. For example, the fact that your daughter is an accomplished CPA is fine but if she has a demanding job and young children, and lives at a great distance, serving as your Personal Representative may prove too much of a burden for her. Her selection could also stoke family tension if she cannot attend to her duties on a timely basis, thus delaying the distribution of assets to beneficiaries. How to avoid it: Talk to whomever you are thinking about appointing as a fiduciary to determine if they are willing and able to serve. In some cases, it may be better to appoint a third-party fiduciary like a bank or brokerage trust department. A third-party fiduciary may also be a good idea if you want to avoid the discord that can arise when a parent designates one child as a fiduciary, thereby giving that one child “the power of the purse” over his/her siblings. MISTAKE 7: Assuming that Medicare will pick up the tab for a nursing home if you ever need long-term care. Why it’s a mistake: Contrary to common belief, Medicare does not pay for long-term care, but only for skilled nursing care on a limited basis. Given greater longevity, more and more of us will require long-term care at some point in our lives – and the astronomical expense can wipe out the average family in no time. Thus, planning for this eventuality should a cornerstone of most people’s estate plans. How to avoid it: Long-term care insurance can be a good investment. However, if you cannot afford it or if you cannot qualify for health reasons, assets may often be preserved with strategies that incorporate Medicaid planning and/or Veterans benefits planning into your estate plan. Consult a certified elder law attorney for advice. MISTAKE 8: Thinking that your will allows your estate to avoid probate. Why it’s a mistake: When you die, any assets passing under your will must go through the probate court. The probate court will then direct the distribution of your assets to the beneficiaries named in your will, ensure creditors are paid, etc. How to avoid it: If one of your estate planning goals is to keep your estate out of probate, a will is not the way to go. Instead, consider a revocable trust (aka living trust). MISTAKE 9: Thinking that if your estate is not taxable, it avoids probate. Why it’s a mistake: It’s a common misconception that only taxable must go through probate. The reality is that the need for probate and an estate’s tax status are unrelated. A modest estate not subject to estate tax may go through probate if the decedent relied on a will to transfer assets. A large, taxable estate may not be probated if the decedent utilized effective probate-avoidance strategies such as a living trust (aka revocable trust). How to avoid it: Regardless of the size of your estate, a will is not the estate planning vehicle of choice for anyone intent on making sure his family avoids dealing with the probate court. Other estate planning strategies should be investigated with the advice of a certified elder law/estate planning attorney. MISTAKE 10: Relying on a do-it-yourself websites or books to draft your documents, in order to save money. Why it’s a mistake: The do-it-yourself sites and books disclaim any liability; in fact, they advise you to check with an attorney! Remember, if you get your estate plan wrong, the errors will probably not be discovered until after you’re gone. And then, there are no do-overs. How to avoid it: See an experienced and certified elder law attorney in the state in which you reside. The Florida Bar certifies lawyers in elder law, as do many other states. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
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From Wikipedia, the free encyclopedia
American Fork is a city in north-central Utah County, Utah, United States, at the foot of Mount Timpanogos in the Wasatch Range, north from Utah Lake. This city is thirty-two miles southeast of Salt Lake City. It is part of the Provo–Orem Metropolitan Statistical Area. The population was 33,337 in 2020.[5] The city has grown rapidly since the 1970s. [geocentric_weather id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_about id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_neighborhoods id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_thingstodo id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_busstops id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_mapembed id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_drivingdirections id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] [geocentric_reviews id=”f9bf6a63-bf88-44b0-b78b-971b613889ca”] The post Estate Planning Attorney American Fork Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/estate-planning-attorney-american-fork-utah/ |
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