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How an Estate Planning Attorney Can Help You Plan for Your Death

How an Estate Planning Attorney Can Help You Plan for Your Death

Many Utah residents still have this wrong mindset that hiring an Estate Planning Attorney is only for the well-off or the elderly.

Estate planning will benefit a person with very few assets just as much as one who has a large estate.

If you fail to plan your estate, it can cause significant problems for the family that you leave behind.

Having an estate plan gives parents of minors the power to nominate a guardian when the time arises that they can no longer provide support.

The estate plan also ensures that wealth and property will pass down to the descendants or other beneficiaries without court proceedings.

The Cost Of Dying In Utah: How Much Do You Spend?

Life is short, and death is sure, that’s what we can learn from the recent death of basketball superstar Kobe Bryant.

We know that three things are permanent in this life: change, taxes, and death. Many people have tried to search for the fountain of youth, but we all know that this does not exist. 

Since death is inevitable, we should plan for it while we still have the resources and means to do so.

Many Utah residents have not been educated and informed about how to prepare and plan for their death. The cost of dying in Utah has risen to such an amount that many can’t afford them anymore. 

Estate Planning Ogden UT

This is why so many family members that are left behind get into debt once a loved one or relative dies, and there was no plan or preparation made financially to cover for the expense. Estate planning is one of the solutions to avoid such situations.

We live in a world where death can happen in an instant.

The food that we eat and the “gadget lifestyle” has led to the rise of obesity and critical illness even among our children. 

It is no longer a surprise for kids to be diagnosed to have an adult’s sickness at such a young age. Hypertension, heart disease, and diabetes are now typical for overweight kids. 

Based on a 2019 study by GOBankingRates, the cost of dying in Utah is around $13,514 for medical expenses and an additional $7,639 in funeral expenses.

Utah has one of the best healthcare systems in America. Get in touch with an Estate Planning Attorney and ask how you can benefit from the Utah healthcare systems.

An Estate Planning Attorney Can Teach Us How To Prepare For Death Expenses

Death is already a painful experience for the family that are left behind. An added burden is when there are no funds available to cover for the funeral expenses.

These traumatic situations can be avoided with proper planning and preparation.

Priority should be given to estate planning and investing in a life insurance policy. Having a life insurance policy will provide those who are left behind the needed cash to pay for possible hospital expenses and funeral bills when death strikes. 

There are a lot of reputable Estate Planning Attorneys that can help you out in getting the best insurance policy for you. 

An insurance agent handing out a check at a funeral service is a huge relief for the bereaved.

Save on Funeral Expenses

Before we spend on extravagant flower arrangements and expensive caskets, we should think about things that are more important, like the words and memories shared during the wake ceremony.

There is a tendency to throw away budgetary concerns when we are mourning the death of a loved one. You just wake up a few weeks after the funeral and realize that you paid thousands of dollars on things that were not that important.

Many Utah families choose to bury their dead instead of cremation. Cremation is the cheaper alternative an urn can cost around $200 while an urn niche can be bought at $2,000. A casket, on the other hand, has a price tag of $8,000, while a burial plot of land can reach up to $3,000.

If religion permits, the practical choice would be cremation over lot and casket.

Utah is one of the states that has a high exemption for gift and estate taxes, so you don’t have to worry so much.

Planning well and discussing things with your Estate Planning Attorney can help you when the day arrives so that you won’t burden your family with huge funeral expenses.

Godfrey Law is the Best Estate Planning Attorney in Ogden, Utah

Dying in Utah has a price, and the cost can be huge for your loved ones if you don’t prepare for it. Don’t let your loved ones pay for your mistake, prepare for your death today.

Our estate planning attorney at Godfrey Law can help you come up with an estate plan that will ensure a hassle-free transfer of your assets to your beneficiaries.

A well-thought estate plan will be beneficial to your family once you pass away.

No one would want their family fighting over assets once you are gone.

An estate plan makes it clear who gets what and lawfully transfer the assets without spending much for court proceedings.

Your assets are also protected from people who want to take advantage and pounce on your assets and leave your family with nothing. 

You can also assign a trusted person to act on your behalf when you are already unable to do so yourself.

Having an estate plan reduces the stress on your family as they focus on taking care of you during your declining years.

Our estate planning attorney can make the best estate plan for you that will give long term care after retirement without consuming the assets that you want to pass on to your family.