Posts Tagged ‘trust’
Special Considerations for Women When Estate Planning
American women live on average 4.8 years longer than American men.Because women typically outlive their spouses, their estate planning documents are usually the ones that actually determine what happens to the family assets. However, the longer life span of women also means that women are more likely to experience a period of time at the end of their lives when they are unable to make their own decisions because they are incapacitated due to some medical condition.
Read MoreShould I Consider Creating a Gun Trust as Part of My Estate Planning?
If you own any firearms or other weapons that are specifically regulated by and registered under the National Firearms Act (“NFA”), a gun trust will likely be necessary in order to make sure that your beneficiaries are not committing a felony by taking possession of the firearms.
Read MoreFollow These 4 Steps to Assess Your Own Estate Planning Documents
Estate planning consist primarily in putting into place those legal documents that each of us need to deal with what happens if we become incapacitated and what happens when we die. If you have estate planning documents in place and have any doubt about whether those documents are complete or up to date, the best thing you could do is bring them to an estate planning attorney to review and discuss with you. Some law firms, like mine, may do this for you without charge as a complimentary consultation. Getting an expert’s advice on the status of your documents is very valuable.
Read MoreWhich Avoids Probate, A Last Will & Testament or a Revocable Living Trust?
For those who want to avoid the court-controlled process that takes place after a person’s death (known as “probate”) – using a Revocable Living Trust is typically the best way to do so. This document allows a married couple or a single individual to direct what shall happen to their assets and possessions. It will also indicate who will be in charge of carrying out those instructions, without the need for the involvement of a probate court judge.
Read MoreDo Wills and Trusts from Other States Work in Idaho?
People regularly move to Idaho from other states and bring with them wills, trusts, and power of attorney documents created in their prior state. Such people often ask me if their old estate planning documents are enforceable in Idaho. Generally, those documents are still valid in Idaho. However, there are some very important reasons to have estate planning documents from another state reviewed by an Idaho estate planning attorney. Let’s remind ourselves what each of these documents are and then consider some of the issues that create concern about out-of-state wills, trusts, and other estate planning documents.
Read MoreHow Often Should You Review Your Estate Planning Documents?
A question I regularly hear regarding all types of estate planning documents is “how often should this be updated?” The answer depends, of course, on the individual circumstances. However, there are some general guidelines that can be helpful. Two questions to think about regarding updating your legal documents include – have there been any major life events since the documents were last updated, and have you looked through the documents in the past 2 years?
Read MoreSpecial Needs Trusts can Help People With Disabilities
I find that most clients have some familiarity with the concept of estate plans, probate, guardianships and many of the other things we do at my law firm. However, one of our practice areas regularly puzzles people: Special Needs Trusts. Let’s look at these unique trusts and see what they can do.
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