Experienced Support For Your Wills And Trusts

Wills, trusts and other estate planning instruments work best when they are written carefully by a lawyer who deeply understands the law. At Snow Jensen & Reece, P.C., we know that the future of your estate is also the future of your family, and we are committed to helping you make a thorough plan for the future.

Understanding The Difference Between Wills And Trusts

Depending on your needs and preferences, an estate plan can be simple or complex. But nearly every plan for an estate is built using the two most important tools in estate planning law: wills and trusts. It’s possible to write a will without establishing a trust, or vice versa, but these two tools work best when used together.

A will is a formal statement of your wishes after you are gone, and this alone is a valuable source of guidance for your loved ones when the time comes for your estate to pass on to others. But a will is just a statement of preferences; it cannot hold funds or directly transfer them to the parties you choose. That is the value of a trust, which functions more like a specialized kind of bank account. A trust can actually hold funds, which makes it easier to transfer them when the need arises. And trusts can be tailored to meet your specific needs, which will allow you exactly the amount of control you desire in order to manage issues like asset protection, tax planning and more.

Answering Your Early Questions

We will help you identify the estate planning instruments best suited to your specific situation. We are also here to help answer any of your questions about estate planning, including common questions such as:

Is estate planning just creating a will?

There is much more to estate planning than creating a will. In addition to creating trusts, you can also appoint someone to be your power of attorney for health care needs and other matters, designate beneficiaries, draft a letter of intent, and make a health care directive that can inform others of your medical wishes while living or not.

Do my bank accounts need beneficiaries?

No requirement forces you to appoint someone as your beneficiary to a bank account, but that does not mean you should avoid appointing someone. Appointing a beneficiary can ensure that your loved ones receive your desired inheritance while eliminating opportunities for contestation.

Do I need a will if I have a durable power of attorney?

The more precautions you take in your estate planning, the better. So while you do not need to have both, it is only to your benefit to have them. Your will is a reflection of your last wishes, and your power of attorney is there to uphold those wishes. Having each of these in your estate plan is like having an extra safety net for your estate.

Is a will or trust better for my estate plan?

For estates that have a simpler plan to them, a will is more commonly used by planners. Trusts are more beneficial for those who are accounting for more delicate situations, like passing on significant assets, guardianship planning, or even generational planning. We can help you weigh your options and develop a plan that is right for you.

What benefits come with creating a trust fund?

A trust fund has many benefits to offer. They can help reduce the amount of state and federal taxes that apply to the assets within the trust, they can grant you more control over how and when your beneficiaries receive their inheritance, and you can protect the assets you give your loved ones.

The First Step Is To Speak With An Experienced Estate Planning Attorney

To learn more about the attorneys at Snow Jensen & Reece, P.C., who can help you create wills, trusts and other useful estate planning instruments, schedule a consultation at our firm. Just call 435-215-4960 or contact us online.

With office locations in St. George, Cedar City and Kanab, we assist clients throughout Utah. We also have attorneys licensed in Nevada.