Are Trusts a Good Way to Protect Assets During Estate Planning?
Trust
A trust is a legal document that identifies the beneficiaries and specifies how the assets will be used. There are a few types of trusts and many different uses. It is always best to consult with an estate planning attorney to make sure you understand all the options.
A trust is a great way to protect your assets and ensure that your wishes are fulfilled. If you have a lot of valuable personal property, such as art, collectibles, or other heirlooms, you may consider placing it in a trust.
A trust can help reduce your estate taxes, as well. It allows you to manage your assets in a more hands-on manner and control how they are transferred. The right type of trust can also help you avoid the expense of probate.
Types of trusts
There are several types of trusts and choosing the right one will depend on your needs and circumstances. Some people may want to create a revocable trust, while others may want to leave their assets in an irrevocable trust.
A testamentary trust is a good way to direct the distribution of some of your assets. If you have a disability, you might need a trustee to handle your money.
A living trust can be a good option if you want to eliminate a will. It is similar to a regular account. It is a legal agreement between you and your surviving spouse. You can decide to give the surviving spouse an income from your trust.
Free consultation from one of the best Law Firms
If you have questions, you can get a free consultation with the Best Estate Lawyers.
If you have questions, you can get a free consultation with the Best Estate Planning Lawyers.
Parklin Law – Estate Planning Lawyer
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
Parklin Law Official Website
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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
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Parklin Law
Ogden, Utah
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Ogden, Utah
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From top left to bottom right: Ogden High School, Weber State University Bell Tower, Peery’s Egyptian Theater, Downtown, Gantry Sign, aerial view
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Flag
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| Nickname:
Junction City
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| Motto:
Still Untamed
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Location in Weber County and the state of Utah
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| Coordinates: 41°13′40″N 111°57′40″WCoordinates: 41°13′40″N 111°57′40″W | |
| Country | United States |
| State | Utah |
| County | Weber |
| Settled | 1844 |
| Incorporated | February 6, 1851 (As Brownsville) |
| Named for | Peter Skene Ogden[1] |
| Government
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| • Type | Council-Mayor |
| • Mayor | Mike Caldwell |
| Area | |
| • Total | 27.55 sq mi (71.35 km2) |
| • Land | 27.55 sq mi (71.35 km2) |
| • Water | 0.00 sq mi (0.01 km2) |
| Elevation
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4,300 ft (1,310 m) |
| Population
(2020)
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| • Total | 87,321 |
| • Density | 3,169.55/sq mi (1,223.84/km2) |
| Demonym | Ogdenite [3] |
| Time zone | UTC−7 (MST) |
| • Summer (DST) | UTC−6 (MDT) |
| ZIP Codes |
84201, 84244, 844xx
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| Area codes | 385, 801 |
| FIPS code | 49-55980[4] |
| GNIS feature ID | 1444049[5] |
| Website | http://ogdencity.com/ |
Ogden /ˈɒɡdən/ is a city in and the county seat of Weber County,[6] Utah, United States, approximately 10 miles (16 km) east of the Great Salt Lake and 40 miles (64 km) north of Salt Lake City. The population was 87,321 in 2020, according to the US Census Bureau, making it Utah’s eighth largest city.[7] The city served as a major railway hub through much of its history,[8] and still handles a great deal of freight rail traffic which makes it a convenient location for manufacturing and commerce. Ogden is also known for its many historic buildings, proximity to the Wasatch Mountains, and as the location of Weber State University.
Ogden is a principal city of the Ogden–Clearfield, Utah Metropolitan Statistical Area (MSA), which includes all of Weber, Morgan, Davis, and Box Elder counties. The 2010 Census placed the Metro population at 597,159.[9] In 2010, Forbes rated the Ogden-Clearfield MSA as the 6th best place to raise a family.[10] Ogden has had a sister city relationship to Hof in Germany since 1954. The current mayor is Mike Caldwell.
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