Idaho Estate Planning
Idaho Estate Planning can be overwhelming for individuals, couples and families that don’t know where to start. Every person is unique. A cookie cutter estate plan will likely not work to protect an individual’s estate and provide help to them while they are alive. Additionally, every person in Idaho should have a customized Estate Plan so that they aren’t stuck with the government default estate plan of intestacy. Our Idaho Estate Planning Attorneys can help you. The Idaho Estate Planning Lawyers on the Racine Olson Team are experienced and knowledgeable about all areas of Idaho Estate Planning. We are confident that we can help you.
Our Estate Planning Team of Idaho lawyers is made up of partners Randy Budge and Lane Erickson and attorneys Nathan Palmer and Dave Bagley. We have a combined legal experience of over 75 years in helping our Idaho clients create customized estate plans. In addition to this, our Estate Planning Team received the highest ratings from Martindale and Hubbell, AVVO and Justia. Given our experience we are confident that we can answer your questions and can help you prepare a complete Idaho estate plan that will meet your needs and will provide for you while you are alive and for your loved ones after your death.The Government's Default Idaho Estate Plan
Most clients we work with on their Estate Planning are shocked to learn that everyone in Idaho has an Estate Plan, even when they have done nothing. There really are no exceptions to this. In Idaho, like most every other state, written statutes create a default Estate Plan for anyone who has not created one for themselves. While this may seem intrusive, the reason the government has a default Estate Plan for you is because the law recognizes that when a person passes away, many people may make a claim to the decedent’s property. To avoid the potential chaos that could result from this problem, and to stop those that are unscrupulous, the law has created a systematic default Estate Plan for the distribution of a person’s money and property when they die. This is called the Law of Intestacy.
Likewise, if a person doesn’t have a customized Idaho Estate Plan and then suffers from dementia from an illness or an accident, the State of Idaho’s default plan uses the Courts to decide who will take care of the person, their money and property. This results in costly Guardianship and Conservatorship proceedings that can leave family members divided and angry with one another because they may not agree on who should be appointed by the court to take care of you, your property and your money.
The problem with the default estate plan is that the person no longer has any say in who ends up with their property when they die or who cares for them and their money and property while they are alive. Additionally, the default estate plan does not take into consideration any special circumstances or needs that may exist for that individual or within their family. While we’ve found that most people don’t want the government making decisions for them either while they are alive or when they die, many people don’t know where to turn or what to do. Our experienced team of Idaho Estate Planning Attorneys are here to help you create your own customized estate plan.Creating Your Own Idaho Estate Plan
Idaho Estate Planning doesn’t just deal with giving your property away after you die. It’s easy to see why most people have this misunderstanding. Giving away property through a Last Will and Testament is what the media tends to focus on. The reality is that in additional to giving away your money and property when you die, Idaho Estate Planning also has a powerful effect on your life while you are alive. Additional documents that are part of a basic Idaho Estate Planning package include a Durable Power of Attorney and a Living Will and Durable Power of Attorney for Health Care.
You may also find that your circumstances would be aided by the creation of one or more Trusts. These may include a Minor’s Trust to care for your minor aged children until they reach an age where you are comfortable with them receiving money or property. You may also need a Special Needs Trust to help you provide for and care for a child or other family member who has a handicap or a disability. Others want to avoid the time and costs associated with Probate and use either a Revocable or an Irrevocable Family Trust. Still, other families who own or operate farms, ranches or businesses in Idaho utilize a trust to help them with Succession Planning for their businesses.
A customized Idaho Estate Plan focuses on each individual’s, couple’s or family’s unique circumstances and needs. The Racine Olson Estate Planning Team works with each client to determine what needs exist and then uses the Idaho Estate Planning tools that are best able to meet those needs. When completed, each client has a customized Idaho Estate Plan that cares for them and their family.Enlist an Idaho Estate Planning Attorney to Help You
The diligent Estate Planning attorneys at the Racine Law Office are here to help your family and you when you need it the most. Whether you are seeking your own customized Estate Plan or are in need of an Estate Plan for a loved one we are available to discuss your options and answer your questions at an initial free consultation. Call us toll free at 877-232-6101 or 208-232-6101 for a free consultation with the Racine Olson team of Estate Planning attorneys in Idaho. You can also email us directly at firstname.lastname@example.org. We will answer your Idaho Estate Planning questions and will help you solve your Idaho Estate Planning problems.
- An Idaho Last Will and Testament
- Doing Your Power of Attorney Right
- How a Trust Can Help an Older Married Couple
- Idaho Estate Planning and Second Marriages
- Idaho Estate Planning and Retirement Accounts
- Idaho Estate Planning and Special Needs Trusts
- Idaho Estate Planning and Your Debts
- Taxes and Estate Planning