I usually like to draw for these posts, but in this case, photos were called for. These photos are from actual online ads, and show how meager Utah’s exemption amounts are.
Special thanks to Ben, Brett and Brodie at Knox Capital Group for their input on this diagram and insurance matters.
You can’t take it with you. But you can make gifts at your passing. And for that, there are four basic legal processes. Each asset will wind up in one of these four boxes. For example, you might leave a home to go through probate, and a life insurance policy to go through contract forms. A good estate plan will have documents that address what happens to all of your assets — no matter what box they come through — for a coordinated approach.
Captive Insurance Companies are an advanced business planning technique– but have a lot to offer. Special thanks to Charles H. Spitzer, CPA, of Captive Insurance Group, LLC, for his input on this diagram. Click the image to download a .pdf of the diagram.
As most lawyers know, the Utah Code Annotated is a reference book on Utah laws. This multi-volume set illustrates Utah’s Code by citing cases, treatises, and other sources. This Blog, however, the Utah Cod Annotated, is dedicated to illustrating legal concepts with visual illustrations– and a bit of humor. The name is inspired from the case of Weigand v. Houghton, in which the Court refers to the “Mississippi Cod Annotated.” No current editions of the Utah Code Annotated were harmed in the making of this illustration.