Loading...
Please wait, while we are loading the content...
Estate Planning Basics: Getting Started
| Content Provider | Semantic Scholar |
|---|---|
| Author | Rowe, Barbara R. |
| Copyright Year | 2002 |
| Abstract | What is Estate Planning? Estate planning is nothing more than developing a process for identifying and transferring all of your property from one generation to the next or within a generation. Estate planning isn’t only for the rich; there are no minimum property requirements. Anything that you care about–from an old rocking chair that belonged to your grandfather to a cabin where your family spends all its vacations–is important enough to justify at least basic estate planning. Sometimes young families think they don’t have enough property to justify estate planning. But if you have a child under age 18, you have estate planning concerns. Who will raise your child if you can’t? Who will manage any cash or assets the child might inherit? This publication is designed to help you begin the estate planning process. It is not intended to substitute for the assistance and advice of a lawyer. But it is intended to clarify some of the issues and language involved in estate planning so that you can figure out what you want to accomplish with your estate plan. It’s Easier To Put It Off One reason that people put off estate planning is because it involves more than listing what you own and who you want to have it when you are gone. It involves attitudes and feelings about death, property ownership, business arrangements, marriage and family relationships. Sometimes adult children will put off talking with their parents about their estate because they don’t want to appear greedy, or because they can’t imagine a time when their parents won’t be around. Sometimes parents avoid talking to their adult children about estate planning because they don’t want to hurt feelings, or they truly aren’t aware of all the options that are available to them. As uncomfortable as talking about death might be now, isn’t it worth spending some time and money to avoid the confusion, delay, expense and quarreling that might occur if you died without a plan? If you don’t make a plan, Utah law will decide what happens to your estate, and it might not be what you would want at all. |
| Starting Page | 1 |
| Ending Page | 1 |
| Page Count | 1 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://digitalcommons.usu.edu/cgi/viewcontent.cgi?article=1576&context=extension_curall |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
