Post Falls Estate Planning Attorneys
Everyone Deserves a Plan They Trust
It’s a common saying that the only two things certain in life are death and taxes. Estate planning is how our talented team at Post Falls Law can help you prepare for both. The process of distributing a loved one’s worldly possessions can be difficult, but it doesn’t have to be. Planning in advance is a loving gift to the next generation of your loved ones.
The Estate Planning Process
First, it is important to understand the different ways we can protect your assets and safeguard them for your beneficiaries. Wills and trusts both work to pass on your assets to those you love, but the nuances and tax consequences of both are vital to consider. Our will and estate planning attorneys in Post Falls can walk you through both options and help you choose which works best for your needs.
Very generally, these documents accomplish the following:
- Wills: The last will and testament is the most common and well-known way to leave your assets to your chosen beneficiaries. Your will can also designate a guardian for minor children and allow you to choose what happens to your pets after you have passed.
- Trusts: There are a wide variety of trusts; you may have already heard of revocable trusts (also called living trusts) and irrevocable trusts. All share the same basic form: a trustee manages property for the benefit of a beneficiary or group of beneficiaries. We will help you understand and choose the trust that fits your situation best.
Asset protection is the top priority in most aspects of estate planning, but is unfortunately an often overlooked aspect of the process. It is critical to protect your assets so you can preserve them for your beneficiaries, and our attorneys can help you do just that.
Besides building wills and trusts, Post Falls Law can also prepare documents to help in the event of incapacity or of injury. Living wills and medical powers of attorney give you peace of mind by ensuring your chosen representative follows your wishes. Dealing with organizations like Medicare and Medicaid can add more difficulty to a situation when you or a loved one are sick or infirm, and we can help guide you through your choices and make the best ones for your family.
Probate is the process by which an estate is portioned between beneficiaries, whether those named by a will or designated by statute, if no will exists. This process can be drawn out and expensive, especially when the estate has multiple properties, high assets, or fighting beneficiaries. Drafting a thorough estate plan can help your family avoid these headaches by giving them a clear roadmap of your wishes.
Our firm can also help you if you are a beneficiary, trustee, or executor facing the probate of a loved one’s estate. We can help you ensure all paperwork is completely correctly and filed on time and all procedures are carried out in accordance with the law. We will also guide you through this trying time, explaining your options in plain, simple language and offering you solutions that can put your mind at ease.
Contact us today to discuss your situation.