Holidays are about loved ones and so is legal planning. Here are some important questions to ponder this holiday season, as you gather with family and friends.

1. If any of your children received their inheritance today, would you be concerned about how they would handle it? Do you want to protect the money you pass down from your loved ones’ creditors, divorcing spouses, or predators?
2. Do you have enough assets or life insurance to care for your children in your absence?
3. Have you recently created a list of your assets, so that if something happens to you, family knows where to look?
4. If you have young children, have you designated permanent and temporary guardians to take care of them if you can’t?
5. When was the last time you checked for hidden treasure (i.e. the Utah Unclaimed Property website) to see if you or your family have forgotten property, accounts, or assets which have been returned to the state?
6. Who do you want to make medical decisions for you if you can’t? Have you legally document that decision?
7.  If you’re incapacitated, could a trusted family member sell your assets to pay for your care, or for the care of those dependent upon you, without court intervention? Who would you want to have that authority? Is it legally documented?
8. When you die, where do you want your money and property to go? Is there anyone you don’t want to receive money? Would the money disqualify anyone from government benefits? Have you legally documented your wishes?
9. If you have a legal plan, such as a will or trust, established for your assets when you die, when was the last time you had your plan reviewed and tuned up? Are the decisions you made previously the same decisions you would make today? Do your loved ones know where those documents are located?
10. If you have a trust, have your assets been moved into the trust? Will it allow you avoid probate and make it easier on your loved ones?
11. Who are the beneficiaries designated on your life insurance and retirement accounts? Are you sure? Have you checked recently?
12. Have you written down or recorded significant life experiences, values, memories, and wisdom for your posterity, in a place your loved one can find?

If you would like assistance with any of the above questions, please contact us at (801) 407-6538 or [email protected].  You can also schedule a FutureSecure consultation by clicking on this link:  https://willstrustsbusiness.com/consultation-request/

Marianne Ludlow and Shawna Doughman Group focuses on securing your future, family, and business through estate and business planning, including wills, trusts, powers of attorney, trust administration, and business planning contracts and agreements. Our offices are located in Highland and Lehi, and we serve clients in Utah and Salt Lake Counties. You can contact us by phone (801) 407-6538 or e-mail [email protected].