Utah’s New Power of Attorney Act

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The Utah legislature recently adopted the Uniform Power of Attorney Act (the “Act”).  The Act became effective on May 10, 2016, and makes some significant changes to current Utah law.  With its enactment, Utah joins 20 other U.S. States in enacting this uniform legislation, though Utah has made some non-uniform changes of its own.  Here Read More

New Power of Attorney Law Holds Promise and Risk

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Powers of Attorney are powerful and potentially risky documents.  A person signing a power of attorney (the “Principal”) is delegating certain authority listed in the power of attorney to another person (the “Agent”).  Properly drafted, a power of attorney can be a useful tool in dealing with incapacity or absence.  However, persuading banks, title companies, Read More

Estate Planning and Probate

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CALL 801-290-5882 NOW FOR YOUR FREE INITIAL CONSULTATION! One of the basic conceptual problems people have with estate planning is not understanding what it does. Usually estate planning is seen only as drafting a will to say who you want to be the Personal Representative (what used to be called an executor). But estate planning Read More

Paying for Long-term Care

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Aging adults sometimes transfer their property outright to children in order to avoid using their life’s earnings on long-term medical care. My advice? Don’t do it. There are a myriad of pitfalls to this practice, including: Having to turn to one’s children in times of need Increased capital gains taxes to the children when they Read More

Pros of a Revocable Living Trust

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A trust is an entity (like a corporation) established to hold and manage property. It has its own separate existence apart from the grantor or creator of the trust. Trusts can be established during one’s lifetime (a “living” trust) or they can be established at death through a will (a “testamentary” trust). In the case Read More

Limited Partnership: A Guide

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A limited partnership (LTD) is a hybrid of a corporation and a partnership. The general partners manage the business on a day-to-day basis and are personally liable for the debts and liabilities of the partnership. However, the limited partners do not participate in the management of the business and only their assets used for purchase Read More