Protect Your Finances With Your Estate Planning
Our Idaho Estate Planning Lawyers have found that people are more concerned about their finances while they are alive than they are about giving their money away after they die. What most people don’t know is that creating an actual written plan is also a fantastic way to protect their finances while they are alive. Our Estate Planning Attorneys in Idaho are experienced and have the knowledge to help each person protect their finances through their own customized written estate plan. We have helped numerous clients create personalized written documents in order to protect their finances so that these will be available for them during their own lifetime regardless of their personal, physical, and/or mental circumstances later in life.
An estate is made up of all the different kinds of property that are owned by a person including their finances and cash money. To help you with your personal finances our Idaho Attorneys customize a plan for you that will provide financial support to you during your lifetime and allow you to give your property away to whoever you choose upon your death. Our Attorneys in Idaho includes a team of partners Randy Budge and Lane Erickson, and attorneys Nathan Palmer and Dave Bagley who have received the highest ratings from Martindale and Hubbell, AVVO and Justia for their ethics and legal ability. Our team has the experience and the ability to help you complete your Idaho Estate Plan to protect your finances for you while you are alive.Durable Power of Attorney
At its root, estate planning provides a way for you to give your money, property and valuable things away to others after you die. This is done through your Last Will and Testament. But this is not all a well-crafted plan can accomplish. A customized plan will also protect and provide for you while you are alive, including taking care of and protecting your finances so they can be used for you when you need them.
As a result of healthy foods, exercise, and modern medicines people are living longer now than ever before. However, living longer doesn’t necessarily mean that all of the potential problems that may occur are gone. We know through experience that living longer increases the risk that many of us will develop some type of mental or physical incapacity later in life, such as Alzheimer’s disease, a stroke, or some other injury or illness. As your attorneys, we know that our job is to help each client prepare a customized written plan for this possibility so that any potential family conflicts or other problems that can arise are avoided. This is accomplished through a document in your customized estate plan known as a Durable Power of Attorney.
The laws in Idaho recognizes that while you are healthy you have the ability to take care of and make decisions about all of your own daily life affairs such as handling your own cash and finances, bank accounts, healthcare decisions, and managing your businesses and other areas of your life. The problem is, if you develop a mental or physical incapacity you may no longer be capable of making these decisions or taking care of these things for yourself.
With a Durable Power of Attorney as part of your Idaho Estate Plan you personally decide who you will name to care for your property, finances and yourself if you ever become incapable of doing these things for yourself. Having a completed Durable Power of Attorney as part of your customized written plan allows you to avoid expensive and time consuming guardianship and conservatorship proceedings. More importantly, it eliminates the possibility of your family fighting or arguing about who should be named to care for you and your finances which preserves family relationships and also saves you and your family money.Revocable or Irrevocable Family Trusts
Another way that Idaho Estate Planning can assist you with your finances while you are alive is by preparing a revocable or irrevocable trust. Creating a trust allows you to transfer your property and other financial assets into the trust. While you are able you can act as the trustee and can also receive the benefit of the trust through financial disbursements. I f you ever become unable to serve as the trustee you can name another individual who will do this for you while you remain the primary beneficiary and continue to receive disbursements as needed. In this way you can protect your finances, your properties, and other valuable investments so that they will be safe from creditors while at the same time allowing them to continue to provide for you and your well-being while you are alive.
By using a trust you are also able to decide who will ultimately receive the money and property that is in the trust. Like a Last Will and Testament, you have the ability to name individuals in your trust who will be given money or property while the trust is in force and also when it ends.Enlist an Idaho Estate Planning Attorney to Help You
There are many ways that having your own customized Idaho Estate Plan can protect your finances and help you while you are alive. The Idaho Attorneys at the Racine Law Office are here to help you and your family when you need it the most. We are available to discuss your options and answer your questions at an initial consultation. Call us toll free at 877.232.6101 or 208.232.6101 for a consultation with the Racine Olson team of attorneys in Idaho. You can also email us directly at firstname.lastname@example.org. We will answer your questions and will help you solve your Idaho Estate Planning problems.