Estate planning is as simple as creating a legal plan for you and your family’s future. It includes making advance health care decisions, appointing financial agents to act on your behalf (when needed), and determining how to distribute your estate upon demise. Since these decisions are highly personal, we work carefully to ensure that your specific documents match your individual goals and preferences.
Every individual should have at least a last will and testament, regardless of financial condition. Failure to do so means that your estate is passed according to the state law, and not to your individual preferences. Most families are surprised at the size of a final estate when assets such as life insurance are factored in. In a edition, young parents will leave behind young and vulnerable children, and without a last will and testament to nominate their children’s successor guardians, any number of individuals could apply for the position, creating great uncertainty for their future.
Individuals and couples also need appropriate durable power of attorney documents to ensure that financial and health-care decisions can be made on their behalf during times of absence or disability. Also, everyone needs a living will to protect the sanctity of their end-of-life decisions and avoid protracted family legal proceedings.
- Testamentary Trusts
- Living Trusts
- Irrevocable (Asset Protection) Trusts
- Special Needs Trusts
- Charitable Trusts
- Durable Power of Attorney
- HIPAA Forms
- Living Wills
- Estate Planning Binders
- Funeral Instructions
- Guardianships
- Conservatorships
- Adoptions
FAQ’s
WHAT IS A LAST WILL & TESTAMENT?
A last will & testament is a testamentary document, which means its terms are only effective upon your death. This is a significant exception to the traditional ban on hearsay testimony on a court of law, as it permits your voice to govern decisions even after you’re deceased. The primary purpose of a will is to distribute property to your heirs and to appoint guardians over minor children.
WHAT IS A TESTAMENTARY TRUST?
A testamentary trust is simply a trust that is built into the terms of your will. Unlike standard wills, which only permit direct passing of property to your heirs, a testamentary trust within a will allows your estate property to be held for extended periods and purposes, such as grandchildren college funds, distributions over time, and retention for future generations.
WHAT IS A LIVING REVOCABLE TRUST?
A living revocable trust is a legal document that, just like a will, contains your instructions for what you want to happen to your assets when you die. But, unlike a will, a living trust can avoid probate at death and prevent the court from controlling your assets if you become incapacitated. With a living trust, you simply transfer assets from your name into that of your trust, and continue to manage the trust and its assets during your lifetime.
WHAT IS PROBATE?
Probate is the legal process through which your debts are paid and your assets are distributed according to the terms of your will. In Idaho, probate can be either formal or informal, meaning that it can occur both in court and in a private setting. As an alternative to using a living trust, some individuals & families create joint ownership of property or transfer their property to a living trust. There are some advantages to using the probate process, even when you have a living trust. For instance, Idaho state probate laws reduces the time for bringing of claims from 4 years to just over 4 months upon appropriate notice. Further, it allows for court supervision in cases where a private-party trustee might otherwise abuse his or her discretion.