Day Shell & Liljenquist, L.C. provides estate planning assistance for clients throughout Utah, including drafting, funding, administering, and litigating all types of trusts. Our office hours are 8:30 a.m. to 5:30 p.m. Monday through Friday, with evening and weekend appointments also available. The office is located conveniently located near mass transit stops, including the Murray Central Trax station.
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Guidance from experienced trusts and estates lawyers
Regardless of the size of your estate, the establishment of a trust can provide for your care if you are incapacitated, direct the distribution of your assets when you die, and minimize your estate tax liability. At Day Shell & Liljenquist, L.C., we take the time to fully understand your finances and goals. Our experienced estate planning attorneys walk you through the process of setting up a trust from start to finish.
A trust designates a trustee to manage assets that are intended for a specific purpose or beneficiary. As part of a comprehensive estate plan, a trust can be created while you are living or through your will when you die. It can be for the benefit of yourself (while living) or for the benefit of anyone or any organization you choose.
If you are considering a trust as an estate planning tool, we provide you with the practical knowledge you need.
Not only do we draft the documents that establish trusts, we also guide you through funding the trusts with real estate, stocks, bonds, or other assets. We assist trustees in managing property throughout the life of the trust. And, if necessary, we engage in trust litigation to ensure the proper administration or distribution of a trust in the event of a dispute. Day Shell & Liljenquist, L.C. is a full-service trust administration and litigation firm.
Many types of trusts can be created, depending on your needs, including:
Irrevocable trusts are what the name implies - irrevocable. Since the trust is irrevocable, you would no longer have any ownership interest in the property. This can be a negative if you change your mind about what you want to do with the property. On the other hand, irrevocability has substantial tax benefits.
A living trust, also known as an inter vivos trust, can augment a will by transferring property to beneficiaries during your lifetime, thereby avoiding the probate administration process while you still maintain the use of the property until your death. Living trusts should be reviewed periodically and updated as needed.
Your home, bank accounts, and stocks are examples of property you could put into your living trust. Most people name themselves as the trustee in charge of managing the living trust's assets.