Wills and Trusts
Wills and trusts are a vital part of estate planning.
But which financial planning tool is right for you?
Froerer & Miles have helped clients of Ogden, UT, create these documents since 1959. We can determine which one best suits your estate.
Do I Have an Estate?
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Yes. Your estate refers to anything you own, no matter how much or how little that happens to be.
Important Differences At a Glance
| Characteristic | Will | Trust |
| Can take effect during the testator's life | No | Yes |
| Goes through probate | Yes | No |
| Public record | Yes | No |
| Names a guardian for minors | Yes | No |
| Specifies funeral arrangements | Yes | No |
Protect the Future of Your Estate Request a Free Consultation with Our Ogden, UT, Firm
Estate planning can feel overwhelming, but our estate planning attorneys simplify the process to help you get your assets in order for the future. At Froerer & Miles in Ogden, UT, we have helped clients protect their assets since 1959. We can work closely with you to identify your unique estate planning needs and recommend the strategy best suited to your goals. Whether you need a simple will or a complex trust, we can help create the document that will serve your best interests.
To request a free consultation with our law firm and begin planning for the future, contact us online or call our Ogden, UT, office:
(801) 621-2690
Ogden, UT, Clients Thank Our Law Firm
Brad Coleman
2022
I’ve worked with Matt and Kelly and they both do a great job. Have had them create a trust for us, as well as several LLC’s. They’ve always provided quick, top notch legal services for us. Would highly recommend.
View on GoogleShane Berrett
2022
Froerer & Miles were recommended to us by our friends, and we have been very pleased with our estate planning experience there. The whole process was smooth, personable, easy and efficient. Matt Miles and the staff were very helpful, knowledgeable, detail-oriented and a pleasure to work with.
View on GoogleWhy Set Up a Trust?
Trusts are needed less commonly than wills. Trusts are more complex, and generally only used if you have an estate that requires special considerations. Often, trusts are helpful for individuals who have the following circumstances:
Since you have to go through probate court with a will, non-married couples may be better suited to have a trust. A relative of the deceased can argue against the non-traditional spouse receiving the assets listed in the will, but with a trust, the distribution of the assets is set in stone while you're alive.
Supplemental needs trusts allow you to leave the amount of money you desire to your beneficiary who has a disability without affecting their eligibility for federal or state benefits. Trusts allow your spouse, child, or grandchild with a disability to still qualify for Supplemental Security Income, Medicaid, and section 8 housing.
A trust is a better option for minimizing taxes on your estate after your death if you have a large estate. While trusts are more expensive to set up than wills, you will save more in the long run on taxes if you have an estate that exceeds the taxable threshold. For 2023, a taxable estate is one that exceeds $12,920,000.
If you have a medical condition, such as Alzheimer's, that may leave you incapable of making decisions in the future, a living trust can ensure that a person you rely on can make decisions about your financial, medical, and other personal affairs. Setting up a revocable trust gives you complete control over your assets during your lifetime.
Estate Planning Terminology
Various terms are used when crafting your will or living trust. When working with an attorney at our Ogden, UT, law firm, we will make sure you understand every aspect of our services and what they can do for you. For now, here are a few terms to note:
- Testator - Owns a will
- Executor - Carries out a will
- Witnesses - Verify that a will is valid
- Beneficiaries - Recipients of assets in the will or trust
- Guardians - Granted authority over minors by a will
- Grantor - Whoever sets up the trust
- Trustee - Manager of a trust (this can be a person or financial institution)
- Principal - Money or property held in the trust
The Process of Creating a Will
The process our Ogden, UT, law firm uses to create your will depends on your assets and needs. Generally, our attorneys will take you through the following steps to ensure everything in your estate is accounted for:
In Utah, you must be 18 years old to make a will.
Don't Approach Estate Planning Alone Request a Legal Consultation with an Attorney
Estate planning can set your loved ones up for success and ensure that your assets are appropriately allocated upon death. Wills and trusts are vital to successful estate planning but can feel overwhelming without a legal advocate to guide you through the process. It's never too early to start planning your estate, especially if you have children. Having a properly crafted will can expedite the probate process and save the time and hassle of the state distributing your assets for you. Call our Ogden, UT, law office to request a free consultation with our team of Utah attorneys:
(801) 621-2690
A Review by an Ogden, UT, Client
"We worked with Bob Froerer to create a Revocable Living Trust to replace our outdated last will and testaments. Bob could not have been more helpful and patient, nor could he have made the whole process any easier." Ed Partridge
Can I Change My Will?
Circumstances change, assets are added, and wills sometimes need to be altered accordingly. You can change or revoke your will at any time during your lifetime. We recommend reviewing your will periodically to ensure it still fits your needs. You should review your will every three years to make appropriate updates. You may want to review your will sooner if:
- Your children turn 18
- You have a new child or grandchild
- You start a business
- You get married or divorced
- You move out of state
- A beneficiary passes away
- You want assets to go to a new charitable organization
- Tax laws change on a state or federal level
- You've begun taking money out of your retirement
- The value of your estate has changed significantly
Reviews From Happy Ogden, UT, Clients
Scott Wheeler
2021
We enlisted the services of Froerer & Miles to review and update a badly out of date revocable family trust. Matt Miles was a clear and concise advisor who answered all of our complex questions and guided us through some difficult discussions and decisions. He reduced a cumbersome and confusing fifty page document to a clearly written and understandable fifteen pages. We are very impressed with this organization.
View on GoogleDanielle Shupe
2020
We had our Family Revocable Trust finalized and completed ! What a relief ! After many years of postponing ,pondering , researching ,we finally asked the Law firm Froerer and Miles to help us . It went very smoothly , the law terms were explained to us , we were so relieved to have this taken care for our children . Thank you so much for making this procedure so simple for us. The cost is reasonable and is well worth the service.
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