It is not uncommon for my office to receive a call from a panicked family member of an elderly individual. The call may go something like this:
Caller: Hi, I'm calling to see how much it costs to get some estate planning done for my mom.
Paralegal: We'd be happy to help you if we can. Why don't you first tell me a little bit about your mom.
Caller: Okay. Well, mom's not doing too well these days. She's in an assisted living facility and mostly doesn't recognize us anymore. Although she sometimes has good days, most of the time she's confused and is asking for her husband who died three years ago.
Paralegal: Okay. What kind of property does your mom have?
Caller: Well, she has a home that's paid for. She has a brokerage account, a checking and savings account, some farm land in Tooele and I think she has some municipal bonds that she invested in once. But I'm not really sure.
Paralegal: Does your mom know what property she owns and does she understand its value?
Caller: Oh heavens no! She put me on her checking account years ago because she was so overwhelmed with trying to manage her finances. I don't think she has a clue how much she owns, nor could she keep it straight even if we told her.
Paralegal: I think we can help you, but you'll need to meet with an attorney to discuss some of the legal implications of your mother's situation.
Although this above excerpted conversation is a fictitious example, and a very abbreviated one at that, it illustrates a trap that many people fall into with regard to estate planning.
It is becoming more common these days for families to own vacation homes. Often, these second homes become the center of a lifetime of fond memories for generations. In many cases, the sentimental feelings attached to these vacation homes are more pronounced than the feelings attached to the family’s actual residence. It’s not hard to see why.
Merry Christmas! December and all of the holiday celebrations that this month brings has finally arrived. My kids are bouncing off the walls already. Last night, I took each of them to the store to help them pick out presents for their siblings and mother. After we got them all wrapped back at home, our little girl asked if she was going to get to open them tomorrow. I told her, “No. We still have about 20 days before you can open them.” I couldn’t help but feel her pain as a drawn-out whimper of despair escaped her lips while she tried to comprehend the eternity of the next 20 days. Ahhh, waiting for Christmas morning. What torture!
Today I read an 
I’ve had a number of clients ask me if it is possible for them to “hide” their money legally. The answer is, of course, not a simple one. It really depends upon who you’re trying to hide it from and how you define the word “hide” in this context.
Historical census data has shown that in the U.S. in 1900, 100,000 people were age 85 and over. In the year 2000, this age group numbered 4,239,587. In 2020, the number will be 6.5 million, and in 2050, it will have grown to 17,970,000!
Divorce can be complicated, frustrating, disappointing, expensive, along with a whole range of other emotions, as anyone who has endured this type of proceeding can attest. As difficult as the issues can be in a divorce proceeding, can you imagine what happens when divorce involves a child with a disability? 
I’ve briefly discussed the case of the late Amy Winehouse before. She was young, very talented, and had found financial success and notoriety as an R&B singer. Here’s a great 
I'll be the first to admit that today's financial times are a bit scary. And inevitably, when people begin to worry about their investments, I get lots of questions from clients about whether they should just pull all of their money out of the banks and buy gold and silver, or just bury the cash somewhere in their backyard.
It's true. I did have lunch with Gov. Herbert today. It's also true that about 50 other people had lunch with him. He spoke today at the Lehi Area Chamber of Commerce monthly luncheon on the economic development of Utah. I've been a member of the Chamber for about a year now and I am very excited about the growth that is coming to the State of Utah, and specifically, the growth that is coming to North Utah County. Gov. Herbert recited a litany of encouraging statistics and rankings all supporting the idea that Utah is truly one of the most economically promising states in the nation.
RSS