Call 801-274-0062 to schedule your free Estate Planning consultation.
The law firm of Sadler and Wilson is dedicated to helping individuals and families in every aspect of planning and administering estates. Attorneys Cindy M. Sadler and Emily Sadler Wilson focus exclusively in the area of estate planning and have more than 26 years of experience. They will listen to you and put your wishes into legal documents to make sure your desires are followed. It is their goal to provide the documents you need for your unique situation - from the simplest estate to very complex arrangements.
Because life is constantly changing, Cindy and Emily recommend updating estate plans regularly, especially for those who are entering a second marriage, have significant changes in the value of assets or have acquired additional properties. Wills and trusts should be updated whenever there has been a significant change in one's life. No estate is too small to be well planned.
The attorneys of Sadler and Wilson are also experts in probate and guardianship proceedings. Cindy and Emily work with family members and personal representatives to make the probate process smooth and stress-free.
Naming IRA Beneficiaries:
If you are leaving an IRA to one or more beneficiaries it is very important to carefully consider who to name as the beneficiaries. Equally important is instructing your beneficiaries on the benefits of the use of an inherited IRA as a long-term tax shelter.
If your beneficiary is a spouse, the spouse can put the IRA into his/her own name and leave the money alone until he/she reaches 701/2 years old (the spouse can get the money earlier if needed). The rules for retitling an IRA are very specific. Please contact our office if you are the beneficiary of an IRA so that we can determine your best course of action to get as much tax deferral as possible.
In general, naming adult children as direct beneficiaries is preferable to naming a family trust as the beneficiary. There are many exceptions to this rule. Your estate planning consultation will include a discussion of how to best structure your beneficiary designations.