What is the purpose of estate planning?

Estate planning is an important part of ensuring that your wishes are carried out and your assets are managed the way you would like them to be in the event of your death. In Utah, estate planning is a process of taking legal steps to protect your assets and property, and determine who will inherit them when you pass away. The purpose of estate planning is to make sure that your final wishes are respected, and that your family is provided for after your death. It helps to protect your finances, so that your heirs receive the assets and property you intend them to have, and also prevents any unnecessary taxes or other costs from eating into your estate. Estate planning is also used to plan for your future, by helping you to specify the type of care you would like to receive in the event that you become incapacitated and cannot make your own medical decisions. You can assign someone to act as a power of attorney to make those decisions on your behalf if necessary. Ultimately, the purpose of estate planning is to make sure that your estate is managed and distributed in a way that best suits you and your family’s needs. It allows you to keep control over your assets in the event of your death and have peace of mind that your final wishes will be respected.

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What is the purpose of estate planning?

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