There are many reasons that individuals will need an estate plan. Anyone who has gathered assets should call an estate planning attorney so they can have their property managed and taken care of in case they are no longer able to do it for themselves.
Once a person has an estate plan and Last Will in place, they next need to consider how often they should update the Will. It is a good idea for anyone in this situation to ascertain that they review their paperwork every three years at the very least. Another good time to update the will is if a person goes through a significant change in their life. If a person is separated, had more children or grandchildren, or they are divorced or widowed it becomes essential to update the will to make sure that everything is being taken care of properly.
If a person forgets to update their will, this can have devastating results and the wrong individuals may end up with their property and assets after they pass away or are no longer able to represent themselves. A person will need a power of attorney to give another person the right to act on their behalf in terms of financial matters. The attorney a person has appointed for themselves can deal with matters related to the bank and property. If a person does not have a power of attorney, a family member or someone who is close to them can apply and ask the court to be named the guardian so they can act in case of any issues.
What is Probate in Saint George, Utah?
Probate is the process of authenticating a will and it serves as proof that the will is court certified. The probate process is essential because it acts to protect beneficiaries and personal representatives as well. If a person has a notarial will, they may not need to go through the probate process.
If a person is named as an executor, it is definitely an honor, however, it is also a big responsibility and there are many tasks that a person will have to fulfill to ensure they are properly taken care of. The task can become even more demanding if there are complex family and emotional ties surrounding the estate and it can be easy to make a detrimental mistake without the proper guidance.
The most certain way to affirm that a person will have a legally valid estate plan is to connect with a legal expert who specializes in the field. Get in touch with the estate planning lawyers at the Law Office of Barney, Mckenna, and Olmstead today to learn more about the estate process.
Reach them at:
43 South 100 East
590 W Mesquite Boulevard