You’ve worked hard to build your finances and assets. Safeguard them through an estate plan, and provide specific instructions for how you want your wishes carried out after you’re gone. Together with your attorney and tax advisor, Bank of Utah can help you achieve your estate-planning objectives, and give you peace of mind.
What Does a Good Estate Plan Include?
- A durable power of attorney, to give you control over who makes financial decisions on your behalf
- An advanced health care directive, to give you control over who makes medical decisions on your behalf
- A will, to give you control over how your assets are distributed, and to whom they’re distributed, after you pass away
- A personal trust, which gives you control over when your assets are distributed to beneficiaries and allows you to grant a trustee to carry out your wishes
Who Needs an Estate Plan? And Why?
Many people believe that estate planning is only for the wealthy or for specific age groups, but, the fact of the matter is everyone needs an estate plan, regardless of income or age.
Estate plans empower you to make choices about your future and the future of your loved ones by:
- Planning for your own needs should you become incapacitated, and assuring that your financial and health care decisions are your decisions, even if you can’t communicate them yourself
- Naming a guardian for your children should you become incapacitated or you pass away
- Giving you control over the distribution of your estate and assets
- Decreasing the potential for conflict among loved ones upon your passing
How Can Bank of Utah Help with Estate Planning?
When you create a personal trust as part of your estate plan, you name a trustee to ensure your assets are distributed when you planned them to be.
You can name Bank of Utah as your trustee. There are several advantages to doing so, including:
- Professional management of your trust, with compassionate trust officers who have years of experience
- No conflict of interest, with objective trust officers who are overseen by internal auditors and government agencies, instead of family and friends who might be put in difficult positions
- Continuity, with a financial institution who will always be here and be able to act in your best interest
If you have $300,000 in investible assets in addition to your home, give us a call to schedule a Free Estate Planning Consultation
Already have an estate plan? We'll help you review it.
Don't have one? We'll help you establish one that accomplishes your goals.