The overall purpose of estate planning involves more than just passing your assets to your heirs at death. Even if you have a relatively modest estate and do not need living trusts or other vehicles to provide extra protection to your heirs, you still need to plan for unexpected events that can occur any time during your life. An effective estate planning lawyer in Salt Lake City carefully reviews all details and advises you of the steps you need to take.
Many unexpected events — like sudden illness, injuries or loss of physical and mental capacities — can render you incapable of making important decisions pertaining to your own health care. This is why the Utah Department of Human Services recommends setting up an Advance Directive. This document contains a health care power of attorney that names one or more individuals you trust to make your vital medical decisions when you cannot make them for yourself. It also includes a living will that specifies your end-of-life preferences regarding life-prolonging medical procedures.
What a Will Does (and Doesn’t Do)
A will is an essential estate planning document. It allows you to:
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Name who will receive your property
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Appoint a guardian for minor children
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Designate an executor to manage your estate
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Express your final wishes
For many individuals with simple financial situations, a will may be an appropriate foundation. However, a will only takes effect after death—and it must go through probate, a court-supervised process that validates the will and oversees distribution of assets.
Even small estates can be delayed, complicated, or made more expensive by probate, depending on your state’s laws and the structure of your assets.
Why a Will Alone May Not Be Enough
Even if your estate is modest, there are important planning tools beyond a will that can protect you and your loved ones during your lifetime and after death.
1. Powers of Attorney
A will does not help if you become incapacitated. Without proper documents in place, your family may need to go to court to obtain authority to manage your finances or make medical decisions on your behalf.
Key documents include:
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Durable Financial Power of Attorney – Allows someone you trust to manage your financial affairs if you cannot.
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Healthcare Power of Attorney / Advance Directive – Allows someone to make medical decisions for you and outlines your healthcare wishes.
These documents are often just as important as a will, regardless of estate size.
2. Beneficiary Designations
Certain assets—such as life insurance, retirement accounts, and payable-on-death bank accounts—pass directly to named beneficiaries and do not go through probate. Ensuring these designations are updated and coordinated with your will is critical, even in small estates.
3. Trusts (In Some Cases)
While trusts are often associated with large estates, they can also benefit individuals with modest assets in specific situations, such as:
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Owning property in multiple states
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Wanting to avoid probate entirely
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Providing for a minor child or dependent with special needs
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Keeping financial matters private
Not everyone with a small estate needs a trust—but in some cases, it can simplify administration and protect loved ones.
Special Considerations for Small Estates
Even if your estate is limited, ask yourself:
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Do I own a home?
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Do I have minor children?
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Would my family know what to do if I became incapacitated?
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Do I want to minimize court involvement for my loved ones?
Estate planning is about clarity and control—not just asset value.
The Bottom Line
Having a small estate does not mean you can skip comprehensive planning. At a minimum, most adults should have:
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A valid will
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A financial power of attorney
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A healthcare directive
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Updated beneficiary designations
These documents work together to protect you during your lifetime and ensure your wishes are carried out after you pass.
Ready to Hire an Estate Planner?
Estate planning is ultimately about peace of mind. Whether your estate is large or modest, the right plan ensures your loved ones are cared for, your wishes are honored, and unnecessary legal complications are avoided. Of course, designating other people to make your life-or-death decisions requires them to exercise judgment and responsibility that may be well beyond their comfort level. To make sure everyone is fully informed, your Salt Lake City estate planning attorneys require a consultation with you and the individuals you designate. This meeting helps ensure your agents know their position in the decision-making hierarchy. Perhaps most importantly, it allows you to enter into frank discussions to help determine if the people you designate understand and support your personal health care preferences.
The estate planning lawyers at Larsen, Larsen, Nash & Larsen take a holistic approach to help you prepare for your future and the future of your loved ones. We offer free consultations to individuals throughout northern Utah. Contact us to learn how we can help. Many people assume estate planning is only necessary for the wealthy. If you consider your estate “small,” you may think a simple will is all you need—or that you don’t need a plan at all. But estate planning isn’t about how much you own. It’s about protecting the people you love, making your wishes clear, and avoiding unnecessary stress and expense for your family.
