What are the steps to estate planning?

There are a lot of legal terms and steps involved in estate planning, but if you're like most people, you just want to know what the basic steps are. There's always a chance that one day you'll get an inheritance, so it's important to be aware of this process.

The first step is to write your will. Your will names who gets what once you pass away. You can think of it as the list of people you choose to inherit all your assets. Make sure to write your will in a place where no one else could find it and make sure that there is only one copy of the will. If possible, have someone else witness your signature, or even better, notarize your will.

You should then create a durable power of attorney for healthcare and finances. This lets someone else take care of your financial and medical decisions on your behalf if something happens to you. This person can pay bills, make investments, file taxes, and more. Keep in mind that this person only has the power when you're not able to make any decisions for yourself because they are not allowed to change or revoke anything in your will unless they are also named as an executor in your will.

A living trust can help with asset protection as well. Do you need a trust? You should ask an attorney, and call this law firm for a free estate planning consultation:

Parklin Law LLC

5772 West 8030 South, Unit N206

West Jordan, UT 84081

(801) 618-0699

https://parklinlaw.com/utah-estate-planning-law-firm/ 



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