by Cameron Morby
Many people are of the mindset “why should I write a will or create a trust when I do not have any significant assets?”
This way of thinking is particularly true among young professionals, students and recent college graduates. But what about your most valuable asset: your children? What would happen to your children in the event of your death? This is a question and an event you don’t like to think about, but even worse, this is an event that you don’t want to be unprepared for.
Under Utah law, parents can determine who will be the guardian of their children through a written instrument in the event of their untimely death. This is most often done through a will.
For parents of young children, failure to prepare a will and nominate a guardian can result in family contention, drawn-out legal conflict and the appointment of a guardian over your children that you did not intend. As a result, preparing a simple will ensure that your most important assets are protected and put in the care of the appropriate guardian.
Cameron M. Morby is St. George Utah lawyer and attorney at Snow Jensen & Reece, P.C. and focuses his law practice primarily in estate planning. Please email any estate planning questions you may have to him at [email protected] or call and schedule a no cost estate planning consultation at 435-628-3688.