Wills & Trusts

Anyone who wishes to avoid the prospect of a judge deciding how their assets are distributed and who will tend to their financial affairs and minor children, or who wishes to prevent their life savings from being depleted by unnecessary taxes must consider their estate planning options. 

Effective estate planning is particularly important for people who are single or divorced, or who are living in non-traditional relationships or blended families, whether or not minor children are involved, because the assumptions underlying the law of intestate succession, i.e., the "default" provisions established by Idaho's version of the Uniform Probate Code, likely do not account for the people who are most dear to them.   

A Last Will & Testament sets forth the maker's intentions regarding how a person's assets will be distributed, who will administer the estate, who will be the guardian of any minor children, and similar matters after he or she has died. It can be (and should be) updated throughout the maker's lifetime. 

A Trust is a legal entity consisting of a grantor, a trustee, and a beneficiary.  Trusts can be established for a wide variety of purposes including avoiding probate, avoiding taxes, providing for children who have special needs, or providing for charitable organizations.  A trust may or may or may not be revocable during the maker's lifetime. 

Whether a Will or a Trust is more advantageous depends on the client's specific situation, objectives and concerns.  To learn more about Wills and Trusts, click here or contact us for a free consultation.