At Sumsion Business Law, we want you to be informed about our areas of practice before you schedule an appointment. Below, we give some brief background on wills. Please contact us for more information.
What is a will?
A will is a legal document that coordinates the distribution of your assets after death. By creating a will, your wishes will be communicated clearly and directly in regard to your assets. In a will you can designate an executor that will carry out the provisions of the will, beneficiaries that will inherit the assets, and guardians for any minor children. Clear instructions for how and when the beneficiaries receive the assets are also included.
Certain types of assets that pass through the will must undergo the probate process. In general, any asset that allows the owner to name a beneficiary will not have to go through probate. Come meet with our capable attorneys to discuss how to create your will in the most precise and individualized way possible.
What happens if you die without a will?
If you die without a will, your state’s laws determine how to distribute your assets to your beneficiaries. This is known as dying intestate, and the resulting settlement process may not produce the results that you would prefer for your survivors. By drafting a will that communicates your wishes, you can prevent this from happening.
In the state of Utah, as with most states, the default distribution of assets is to your spouse and children. If you don't have a spouse and children, the default distribution of assets is to other family members. A state’s plan reflects the legislature's guess as to how most people would dispose of their estates. This state plan may or may not reflect your actual wishes. A will allows you to alter the state’s default plan to fit your personal preferences and desires and grants decision-making power for your estate and assets.
How do I execute (sign) a will?
After drafting your will with an attorney, it must be signed in the presence of witnesses. Certain formalities must be followed or the will may not be valid. If there is a problem in the execution of your will, it can be a costly and difficult process to make corrections. You want to have it done properly the first time. Any changes made must follow the same signing process with witnesses and a notary. Sumsion Business Law is prepared to assist you in drafting, amending, and executing a will that meets all your needs and wishes.
Contact us today to find out how we can help you ensure your will is drafted, reviewed and/or amended correctly.