Protect Your Legacy with Estate Planning in Salt Lake City, UT

Circumstance

Without a Will

With a Will

With a Living Trust

Minor Children

Court and Attorney Controlled: involved until child is 18, all costs paid from children’s inheritance

Same as no Will – Limited protection and does not go into effect at incapacity

Minimal Court Control: Trustee manages inheritance and provides funds for child. Guardian is approved but Court has limited control.

Incapacity

Court Control: Court appointed Custodian, even Spouse. Court Controls financial affairs and approves expenses. Detailed reporting to Court.

Same as no Will

No Court Control: Successor trustee manages your financial affairs to your instruction as long as necessary.

At Death

Probate: Court orders your debts paid and assets distributed according to state law.

Probate: Debts paid and assets distributed according to Will, if valid and not contested.

No Probate: Debts paid and assets distributed by successor trustee according to your trust’s instructions.

Control

Court Controls Everything

Same as No Will

Court has minimal control

Privacy

None: Court proceedings are of public record. Family exposed

None: Same as No Will

Maximum: Living trusts are not public record. All financial affairs are private.

Time

Usually nine months to 2 years or longer before inheritance is given

Same as No Will

Can be just weeks. 

Court Costs & Legal Fees

Court and attorney usually involved. Cost is 3-8% of the estate plus Legal fees.

Same as No Will

Minimal Fees: Usually no court fees, some assistance from attorney helpful.