Whether it is time for a new beginning or time to plan for your family’s future, we are here to assist you. Eagle Law Center attorneys are experienced in family law issues ranging from marriage and divorce to child custody and adoption. Knowing that often family law matters are emotional, stressful, and confusing, our office is committed to cooperative representation with the best interests of the family in mind. We highly prioritize attorney-client communication, ensuring that you understand your rights and the judicial process.
You can trust Eagle Law Center with your divorce, custody, or other family law issues because many of us have been in these situations before. We can relate to you on a human level while also protecting your legal rights.
Typically, estate planning is not something people get excited to talk about. Mostly because it requires facing the fact that you are mortal. There just isn’t any way around it. Similarly, if you die without a formal directive, then there isn’t a way around the State of Idaho getting to decide which of your assets go where in a process called probate. To make matters worse, your estate (meaning the assets you left behind) is responsible to pay for probate.
Needless to say, your closest family members will be left with a lot of stress and headaches on top of their grief. Probate can cost thousands of dollars and take at least six months to complete. By getting out in front of inevitability, you can decide what happens to your assets, significantly reduce costs and time, and minimize governmental agencies’ ability to tax. An affective and complete estate plan will go a long way in creating piece of mind and the following tools are how you would get it done.
A will allows you to transfer certain property to the people you wish. It also allows for you to name a particular person you want to be in charge. That person is called your Personal Representative. Lastly, a will allows you to direct who will take custody of your minor children. Although a will allows you to pass on your wishes, it does not necessarily minimize the need and costs of probate. Although, better than passing without a will, a will is limited in its reach.
Living Trusts take wills one step further. In setting up a Living Trust you create an entity that holds your assets and is ready to take in all of your assets should you pass. For couples, a joint Living Trust can encompass both individual’s needs. The trust has the authority to distribute the assets as you desire. The beauty is, in a living trust you (as trustee) are still in control of your property. Then upon passing, the directives you line out dictate how the successor trustee is to distribute those assets. A Living Trust is not probated. Meaning, the courts will not oversee how those assets are distributed. As a result, an added level of confidentiality is inherently included.
Although there are various other types of trust (i.e. Special Needs Trusts, Irrevocable Trust, Spendthrift Trusts, etc.) that can accomplish a number of your goals, the right Living Trust does an exceptional job in making life easier for the ones you love in their time of need. As part of the Living Trust, we include a Durable Power of Attorney (Living Will/Medical Directive), A Power of Attorney, and a deed for the transfer of any deeded property. Thus, your estate plan will include any documentation needed to minimize uncertainty and maximize the protection of what you have work so hard to attain.