Thousands choose a will attorney Utah when they want to write a last will and testament. Despite what you might think, wills are important because if you were to die intestate, it can create a potentially lengthy legal battle. A court would review your assets and family situation and make a determination as to who receives any monetary or physical assets. It’s a difficult process when you lose someone and can cause problems within a family. On the other hand, if you were to have a will or power of attorney set out, it may avoid these issues later. So, why is it necessary to write a last will, and do you really need a POA? learn more about will attorney by clicking here.
The Differences Between A Will and Power of Attorney
When you create a will, you specifically list your heirs, whether they are close family members, distance relatives, or your closest friends. You will also name an executor of the will and it is their responsibility to oversee the will. Essentially, the executor will distribute the assets how it’s set out in the will, however, a last will and testament requires witnesses, and they must witness you signing the document. This can be handled with creating an estate plan Utah.
A POA (or power of attorney) sets out who manages your financial and legal advice should you be unable to do so. This is a legal document and can also be used for business matters if you were the owner or shareholder of a company. A will attorney Utah may also be able to help you with a power of attorney if you so wish. However, power of attorneys can vary, depending on the type you choose. to learn more about the difference between will and power of attorney visit at https://www.estateplanningutah.com
Protection During and After Your Life
In a sense, a power of attorney and will work together with one another. The will protects your last wishes after you pass away, while the power of attorney protects them when you’re alive. While you may not choose to have a POA, it can be useful, nonetheless. For example, a power of attorney can be used if you were physically or emotionally unable to make financial – or any – decision for yourself. The person you appoint as your power of attorney would then take the reins and make the necessary decisions on your behalf. You may want to consider this when creating an estate plan Utah.
Should You Write a Last Will and Have A POA?
Every situation is different so while it would be easy enough to say you need both, it’s not quite as simple. Of course, if you wanted to cover your bases and any eventuality, then yes, having a last will and POA would be smart. A will attorney Utah could even be consulted for advice before you create any last wills.
Again, this will depend on your overall assets. For instance, someone with no family other than spouse might decide a last will isn’t necessary. On the other hand, someone who has been married twice with children from both marriages might benefit from a will and a POA. This then removes the decision-making from those who might be too emotionally attached. It could also prevent in-house fighting between adult children. Of course, you can decide if you wish to hand power of attorney to a family member or a close friend. It’s important to talk through your estate plan Utah and see what’s best for your current – and potentially – future situation.
Plan for Yourself and Your Family
Last wills and power of attorneys do not seem like decisions you have to take immediately, however, you truly never know what’s around the corner. You might suddenly find yourself unable to make important financial and possibly medical decisions. Unfortunately, because of your condition, you’re unable to specify who you want to handle your personal matters. What’s more, if you were to suddenly pass away without a will; those you love may – unintentionally – receive nothing. It isn’t just about money, but simple things with little value that mean so much to someone special. A will attorney Utah can be useful if you want to write a will or set up a POA.