Who should be included in an estate plan?

An estate plan is an important document that outlines a person’s wishes for their estate after they pass away. It is important to include certain people in an estate plan, especially if you have any dependents or family living in Utah. The people you should include in your estate plan are: 1. Executor: The executor of your estate is responsible for administering and settling your estate after you have passed away. This person is responsible for distributing assets, paying any remaining debts, and ensuring that your beneficiaries receive their inheritances. 2. Guardians: If you have any minor children, you should name a guardian or guardians to oversee the assets you have left them. The guardian you choose should be a responsible and trustworthy adult who will make sure that your child’s inheritance is used to its full potential. 3. Trustees: If you have created a trust, you should name a trustee or trustees to manage and distribute the assets of the trust according to the instructions you have included in the trust’s terms. The trustee should be familiar with the law and have the ability to manage the assets of the trust for the benefit of your beneficiaries. 4. Beneficiaries: Finally, you should name the beneficiaries of your estate plan. Beneficiaries are the people who will receive any assets that have been placed in trusts, or inherit any assets that have not been placed in trusts. Creating an estate plan is an important step in making sure that your wishes are carried out after you pass away. By including these people in your estate plan, you can make sure that your estate is managed and distributed the way you wanted it to be.

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