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It may be because you:
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You may leave your loved ones with disagreements that lead to family division and even litigation. Idaho Law Group has the experience and expertise to customize a comprehensive Estate Plan which avoids family conflict.
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When someone becomes incompetent or dies, decisions about your assets must be made.
Estate Planning is the practice of structuring your assets and creating instructions for your agent(s) to carry out your wishes so that what you have goes:
Not sure if you need estate planning? The truth is, every adult can benefit from some form of estate planning. The real question is, “What type of plan best suits your needs?” Uncover your unique estate planning requirements with our experienced guidance today.
Many people tell us they have already done Estate Planning with their financial advisor, banker, or CPA. There are two aspects to estate planning – legal and financial.
Financial advisors, bankers, CPAs, and other financial professionals can assist you with the management and growth of your assets. They cannot assist you with the legal work necessary to establish an Estate Plan. Only an attorney can do that.
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Proper Estate Planning ensures the necessary legal documents are in place to keep you in control of your assets as long as you are able, and then put people you trust in control when you are no longer able. Your Estate Plan will provide sufficient instructions to guide the people you trust on how to use those assets for your benefit or for those you choose.
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If you are deemed mentally incompetent, you will want to ensure your needs are met and that your loved ones are provided for. Your plan identifies who gets the benefits of your assets and who gets to control your assets.
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Tax strategies can be included in your Estate Plan to minimize or avoid taxes.
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Proper Estate Planning will support your goals. Good Estate Planning, when properly maintained, keeps your estate in a constant secured state: Plan now so a judge and your loved ones do not have to guess about what your intentions may have been.
Estate Planning options are numerous. To help you understand the options and choose those that are right for you, an Idaho Law Group attorney will educate you about Estate Planning law, discuss your goals, and help you identify which options support those goals.
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People often think that Estate Planning only matters when a person has died or become incompetent. Estate planning can only be done while you are alive and competent. Below are types of estate planning that can benefit you while you are in this first stage of life – alive and competent.
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The idea that one day you may become mentally incompetent can cause fear and worry about the future. A thorough Estate Plan can help prepare and protect you and your family in the event you become incompetent.
When illness or injury leave you mentally incapacitated, it is necessary for someone to make medical decisions on your behalf.
When illness or injury leaves you mentally incapacitated, it is necessary for someone to keep your bills paid and manage your property.
A well drafted trust will have disability provisions. If you are incapacitated, transition to a successor Trustee will be smooth. There is someone in place to take care of you, take care of your finances, and take care of your family.
Someone who is disabled and can no longer work or may even be facing being placed in a nursing facility will most likely benefit from government assistance if they can qualify for it. Idaho Law Group assists people to qualify quickly while preserving as much of their assets as the law will allow.
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A well thought out Estate Plan can reduce or eliminate problems that might otherwise occur if you die without a Will or Trust. Post death issues like remarriage of the surviving spouse, asset protection for a surviving spouse / beneficiaries and who you want in charge of your affairs should be resolved before you die, not after.
If you have a Will based Estate Plan, the Will gets submitted to probate to give the Court your instructions on how you want your assets managed and who you nominate as guardian of any minor children. The ultimate decision lies with the Court.
With a Trust based estate Plan, you will avoid probate. Your successor Trustee will manage your assets based on the instructions in the trust. The Trustee will pay your expenses and retain or distribute your assets as you have instructed in your trust.
If you pass away while married, there is the potential that your spouse will remarry. Without proper planning, your assets could go to your replacement’s children instead of to your own. Idaho Law Group can help you protect against this.
If you leave something to a beneficiary outright and that beneficiary is sued or gets divorced, your estate plan will give assets to the creditor or ex-spouse. Idaho Law Group can design protections for assets you leave for loved ones. Not only can they be protected from attacks on their estates by predators and creditors, they can be protected from foolish decisions and bad judgement as well.
We provide education and counseling to individuals and families so that you can make informed choices with confidence.
