Trusts
Our Trust Package Includes:
Revocable Living Trust
This is a legal entity that is created to hold ownership of your property and assets while you are alive and provides for distributing your property after you pass. Revocable Living Trusts allow you to do the following:
- Avoid Probate – Property in a Revocable Living Trust do not have to go through the time consuming and expensive process of probate. Thus, with a Revocable Living Trust, the trustee transfers the trust assets directly to your beneficiaries according to your instructions, without supervision of the Court.
- Control Distribution to Children – A Revocable Living Trust allows families to decide at what age their children should receive control over their inheritance. Unlike wills, where children receive their inheritance upon the death of testator parents or when they subsequently reach 18, a Revocable Living Trust allows families to choose the age that is appropriate for the inheritance.
- Avoid Conservatorship and Guardian Proceedings – a Revocable Living Trust allows you to authorize your partner, spouse, child or another trusted individual to manage your trust assets should you become incapacitated and unable to manage your own affairs.
- Maintain Privacy After Death – Unlike wills, trusts are not public documents. A Revocable Living Trust allows you to maintain your family’s privacy after death.
Certification of Trust
This is a legal document that confirms specific information about your Revocable Living Trust, so that you don’t have to carry around your original trust documents every time you want to take action as a Trustee.
Registration of Trust
A legal document required by Idaho law that must be filed/registered with the court identifying the Revocable Living Trust’s settlor, original trustee, principal place of administration and date.
Pour Over Will
This is a legal document which instructs the probate court to transfer any remaining probate assets, (or probated assets that were not placed in the trust), directly into your previously established Revocable Living Trust in the event of your death. Similar to a Last Will & Testament, a Pour Over Will appoints a Personal Representative of your estate, who takes care of the entire probate process and makes sure that any valid outstanding debts are settled accordingly. A Pour Over Will is also a proper legal document to name a guardian for your minor children.
Trust Transfer Deeds
These are legal documents used to transfer real property into a living trust to take advantage of the trust’s benefits.
Assignment of Business Interests to Trust (if applicable)
This is a legal document which assigns business interests into a living trust to take advantage of the trust’s benefits.
Durable Power of Attorney
This is a legal document that gives your named agent the authority to pay bills, manage investments, file tax returns, mortgage and sell real estate, make financial decisions and address other financial matters on your behalf. You can give your agent the authority to make financial decisions for you immediately (upon signing the POA) or in the event you are determined incapacitated by a licensed physician. Either way, the powers that are delegated to your agent do not terminate upon you becoming disabled or incapacitated.
Living Will and Durable Power of Attorney for Health Care
This is a legal document that allows you to specify your medical care preferences, including life-sustaining treatments, in the event you become unable to make those decisions yourself. It also names your agent to make healthcare decisions on your behalf if you are unable to do so. This person is authorized to consent to or refuse medical treatment.