Wills & Trusts customized for you.
Formal preparation is the best way to plan for one’s future and ensure their family estate is protected.
In short, often the most valuable reason to have a will is to reduce the burden on your loved ones upon your passing. Not only does it reduce the expense of estate administration, it more importantly reduces the stress on your loved ones from the fear of the unknown. We have taken numerous calls from people on the eve of their loved one's passing consumed more with concern about what has to be done than engaging in the grieving process. A well-crafted estate plan minimizes this fear of the unknown.
Without a will.
Without a will in Idaho,the passing of one's estate is governed purely by rigid, and sometimes complicated to read, statutory default rules that mandate who is to receive portions of your estate and what those portions are. Without a will, it costs of estate administration are also unnecessarily increased by requiring court procedures or additional paperwork that would otherwise be unnecessary with a properly crafted will. If you have minor children, without a will, there will need to be another court proceeding where the court will decide who will be appointed as the guardian of your children and their property.
With a will.
With a properly crafted will in Idaho, there is little left unknown. You get to specify who will be responsible for your estate's administration, frequently called probate, and vest that person with the authority to do so with minimal court intervention and corresponding decrease in legal costs. You also get to specify exactly who will receive what from your estate and even whom you want to specifically exclude from your estate, if applicable. If you have minor children, you also get to specify who you desire to serve as their guardian charged with their care and custody and who will be responsible for safekeeping the property you left them during their minority.
These are important details that shouldn't be left up to someone else to determine after your passing. Other goals can also be achieved through properly crafted wills, such as planning for the care of disabled or financially irresponsible children, or simple tax planning to minimize the impact of estate taxes.
Common Estate Plans often Include:
- Simple Wills
- these allow you to specify to whom you would like to receive your property upon your passing, specify who you desire to be the guardian of your minor children charged with their care and custody, and specify who will be responsible for administration of your estate.
- Will with Testamentary Trusts
- Trusts that are created only upon your death, this avoids the burden of administration during life.
- Disclaimer with Credit Shelter Trusts - used to take advantage of certain tax credits while allowing flexibility for after death estate tax planning.
- Children or Family Trusts - often used where there are younger children or grandchildren that stand to receive a portion of your estate. Rarely would you want to entrust an 18-year-old with a substantial sum of money or property, these trusts allow restricting use for purposes of maintenance, education, support, and health until a certain age.
- Special or Supplemental Needs Trusts - often used where a beneficiary of your estate suffers from mental, physical, financial, or substances abuse issues where receiving property outright could cause more harm than good or cause them to be disqualified from valuable benefit programs.
We charge fees through flat rate packages based upon what we mutually determine is necessary to effectively achieve client goals. After our initial consultation, we will lay out a package that meets the individual’s needs and determine a fee based upon that package. There are no surprise fees and no unnecessary maintenance fees. After we finish building a testamentary package, we will deliver it in a neatly organized and tabbed binder along with some complimentary additional lists and forms that we have found oftentimes get overlooked and make the estate administration, also known as probate, process easier for your loved ones to manage.
We offer a consultation in Sun Valley to first assess what instruments or services will best fit a client’s situation without overdoing it and incurring unnecessary costs or administrative burdens. Many firms offering will and trust services recommend wholly unnecessary instruments that require constant maintenance to keep effective. At Gravis Law, PLLC in Sun Valley, we want to ensure that your goals are achieved in the most simple, economic, and efficient way possible. To get started, submit your information in the form below and we will contact you shortly.
Gravis Law in Sun Valley.
Come visit us at Gravis Law in Sun Valley. Our knowledge of Idaho estate law will provide you with the quality, caring, and personalized counsel while making hard decisions about when “it” happens. We look forward to assisting you in planning for your future and your family’s future. Our Gravis estate planning lawyers will make it as uncomplicated as possible.
Sun Valley, ID Estate Planning671 First Avenue North
Ketchum, ID 83340