Best Estate Planning Attorneys in Boise

FAQs

• What is the non-emergency contact number for the local police station in Boise, Idaho?

  Individuals with non-emergency concerns can contact the Boise Police Department at (208) 377-6790.

• Where can I get a copy of police reports for incidents related to my case in Boise, Idaho?

  To obtain a copy of a police report in Boise, individuals should complete an online or written request and submit it to the Ada County Sheriff's Office Public Safety Information Center at 7200 Barrister, Boise, Idaho. It is important to provide specific details, including complete names and dates of birth. The Sheriff's Office will respond within three to ten business days, and there will be a service charge.

• Can someone in Boise create their own estate plan without a lawyer?

  Yes, Boise residents can draft their estate plans. However, considering the uniqueness of each individual's needs and circumstances, seeking guidance from a skilled Idaho estate planning lawyer is recommended. This ensures the estate plan is legally robust and tailored to meet personal goals and needs. An attorney's expertise can help identify and address potential issues, creating an effective estate plan.

• How can someone in Boise become a court-appointed guardian for a minor child?

  In Boise, securing court-appointed guardianship for a minor requires demonstrating the potential guardian's suitability and the arrangement's benefits to the child. The court usually steps in when the parents are unable or unwilling to maintain their rights, possibly due to abuse, neglect, or an unstable home environment. Though parents can suggest a guardian, the court has the final say in the appointment. Demonstrating the parents' inability to provide a stable home environment is a vital part of the process.

• How significant is the role of charitable donations in an estate plan in Boise?

  In Boise, charitable donations can be a significant component of an estate plan. Not only does it support the donor's cherished causes, but it can provide tax advantages and improve the estate's value for the heirs. This can be achieved through bequests in a will or trust, gifting appreciated assets, naming a charity as a beneficiary on retirement accounts, or setting up trusts or foundations. Individuals should seek the advice of an estate planning specialist to maximize the benefits.

• What happens if someone in Boise dies without a will?

  In Boise, if a person passes away without a will, the state of Idaho has the authority to determine who will inherit their property, regardless of the decedent's wishes or closeness to specific relatives. Idaho's laws of intestate succession outline the distribution of assets based on various scenarios involving surviving spouses, descendants, parents, and other relatives. If no eligible relatives are found, the estate goes to the state.

• Why should someone in Boise consider hiring an estate lawyer?

  Hiring an estate lawyer in Boise is crucial for several reasons. If you need to establish a trust or plan the succession of your business, an estate lawyer can provide invaluable guidance tailored to local laws. Also, Idaho's intricate estate laws require expertise to avoid costly mistakes. By engaging an attorney well-versed in these complexities, individuals can ensure their estate planning is done effectively and efficiently, providing significant benefits in the long run.

• What does an estate planning attorney do?

  An estate consists of the total assets that form an individual’s net worth, no matter how large or small. Estate planning attorneys use their in-depth knowledge of state and federal laws to help people best manage what will happen with their estates after they die or become incapacitated. Estate planning attorneys can prepare wills, form trusts, reduce estate tax burdens, and decrease or eliminate the need for probate court.

• What are valuable estate planning services an attorney can provide?

  With the many intricacies of assets, taxes, and state and federal laws that can affect a person’s estate, an estate planning lawyer can be a valuable professional asset, no matter how large or small a person’s estate may be. An estate planning attorney can:

  • Create a comprehensive plan to protect a client's legacy, that includes a will, power of attorney, trusts, life insurance, and advanced medical directives
  • Optimize an estate plan as tax laws, life events, assets, and goals change over time
  • Protect a client’s loved ones by preventing assets from entering probate
  • Help clients designate a person to make important health decisions for them if they become incapacitated

  
  

• Can estate planning attorneys help create trusts/wills?

  Estate planning attorneys can create trusts and wills. Through a will, an attorney can help a client designate their estate’s beneficiaries and assign an executor to represent the will in probate court. These attorneys can also create trusts, allowing a client to assign a trustee to oversee the estate, potentially avoiding probate court and holding assets to be distributed over time.

• Is estate planning the same as drafting a will?

  While both estate plans and wills officially document how their owners wish to allocate certain assets after their death, there are key differences. In estate planning, a will is often just one of several documents that form a comprehensive plan. In a will, people must designate a person responsible for executing their will after their death. The will can include guardians for their children when they die and beneficiaries to receive an inheritance of money, property, and other assets.

• What are the steps involved in estate planning?

  To create a thorough and effective estate plan, individuals should follow these steps:

  • Prepare a will that designates an estate executor; indicate who will receive what assets, and assign a trust and guardians for any children. Consider using an attorney if the will is in any way complex.
  • To avoid probate, have an attorney create a revocable living trust.
  • Assign beneficiaries to other assets, such as life insurance policies, retirement plans, and securities.
  • Use an attorney to prepare a living will, name a health care proxy, and create a HIPAA release form.
  • Update the plan every five years.

  
  

• How long does the estate planning process last?

  The length of the process can vary greatly depending on the size and complexity of the estate, the specific law office, and whether there’s an emergency or urgent need. If you’re using an attorney, you can generally expect it to take one to five weeks. You may be able to speed up the process by immediately providing your attorney with any bank statements or other documents they need.

• What is a trust?

  A trust is an agreement between a grantor, a trustee, and a beneficiary. In this agreement, the grantor allocates funds or real property assets to the trustee to be held either until the grantor passes away or until a specific, agreed-upon date. At that point, it's the responsibility of the trustee to distribute funds or property to the beneficiary or beneficiaries. While there are similarities between a will and a trust, a will is a more comprehensive document that typically requires probate court, while a trust allows assets to pass to the beneficiary without probate.

• How does a trust fund work?

  When opening a trust fund, a grantor allocates a trustee to oversee and manage assets in the account. This trustee can sometimes be a relative, an estate lawyer, or a bank that acts as the legal owner of the trust. While holding assets, the trustee is required to file taxes on trust assets.

• How does a living trust work?

  A living trust enables a grantor to manage their assets through a trustee while still alive. They can continually add funds and/or property to their trust fund by transferring them to the trustee, who accepts ownership of everything held in the fund. The grantor can name a beneficiary for their trust, and their assets will be automatically transferred to that person or establishment upon their death.

• Do I need a lawyer for a will?

  No, a lawyer is not required to draft or complete a will. However, there are some scenarios in which hiring an estate lawyer to assist with a will is a good idea, including when children or high-value assets are involved. Additionally, an estate lawyer can help to reduce probate fees and taxes paid by loved ones after a person dies. It's also best to work with a professional to ensure that the will addresses everything necessary, such as funeral plans, guardianship, and asset distribution.

• Can you have both a will and a living trust?

  Yes, and individuals who have a living trust should also have a will. While a living trust enables a person to leave funds and assets to a loved one when they're gone, a will is required to cover any assets that aren't included in the trust, such as guardianship of dependents, funeral plans, and forgiveness of outstanding debts, if applicable.

• How much does it cost to set up a trust?

  The cost of setting up a trust varies quite a bit depending on a variety of factors, including terms that are in place, special provisions for minor beneficiaries, and trustees' basic fees. In most cases, the minimum cost of setting up a trust is about $1,500, but depending on the factors mentioned above, this cost can increase by thousands of dollars.