Mortgage Mike’s Views On…Estate Planning

Mortgage Mike’s Views On…Estate Planning

As a wise person once told me: “If you don’t have a plan for your estate, don’t worry, the State of Utah has one for you.” Being a father of young children at the time, this message played over and over in my mind until I made an appointment with an estate planning attorney to put a plan in place to protect my family and I.  If something were to ever happen to me, the last thing I would want is the State of Utah to make the decisions as to whom would raise my kids and how my estate would be managed.

Oftentimes, I find that estate planning is not on the forefront of a young family’s priorities.  However, having a viable and current plan is so important to protect your family’s security at a time where they could be the most vulnerable. If you have dependent children, children from a prior relationship or a blended family of any nature, you are at higher risk and should have a will and possibly even a trust in place. Those with complex finances are also particularly susceptible if they are not protected with an estate plan. If meeting with an attorney is outside of the budget, there are sites such as www.legalzoom.com that offer generic forms for a minimal fee.  You are far better off creating your own plan online than not having a plan at all.  If you need a referral to an experienced and trustworthy estate planning attorney, call or e-mail me, I would be happy to put you in touch with a trusted professional who can help.