When should you start to consider estate planning?

You should start right away. The most important thing to remember is that estate planning is a process, rather than an event. Estate planning isn't something that happens just because you turn a certain age or get married; it's something that you work on as your life changes. It's not something to wait around for until it becomes a problem—estate planning is preventative medicine.

If you're not sure where to start, think about what kind of estate plan (or plans) would best suit your family. There are three main types: a will, a trust, and joint ownership of assets. A will allows you to appoint an executor of your belongings, and give instructions about who should receive your assets after you pass away. Setting up a trust allows for more flexibility in distributing assets, as well as privacy about who gets what. Joint ownership of assets can also provide benefits in terms of privacy and distribution of assets. If you're married, you may choose to set up one or more living trusts together with your spouse—this can keep things private between the two of you while also avoiding probate in the future.

Parklin Law LLC

5772 West 8030 South, Unit N206

West Jordan, UT 84081

(801) 618-0699

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



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