Wright Blog
Welcome to Wright Law Idaho’s blog, where attorney Steven J. Wright shares valuable insights and practical advice on estate planning, business formation, elder law, probate, and Medicaid planning. With a creative tone and unwavering commitment to honesty and respect, Steven dives deep into topics such as estate control, protecting your family, aging parents, divorce’s impact on estate plans, and comprehensive planning. Stay informed and prepared with Steven J. Wright’s informative blog.
Estate Planning
The Critical Link Between Retirement Planning and Estate Planning
For most of us, retirement is a goal we hope will allow us to enjoy the fruits of previous sacrifices. While preparation increases the likelihood that we can enjoy our golden years, there are many uncertainties that determine whether retirement is an opportunity or a...
Will there Be a Reading of The Will?
Everyone has seen the movie or television show when the family gathers for the reading of the will. It is usually a dramatic event with an unexpected twist that makes for a good movie plot. Is there actually any requirement to have the family meet for a “reading of...
Avoiding Probate May Not Be Worth the Cost
Part of my practice is spent helping clients solve problems after a parent or spouse has passed away. Many times, these problems arise because the estate plan included a “shortcut” intended to avoid probate. Probate is a process to transfer the assets after someone...
Medicaid Planning
Is Long Term Care Insurance the Best Answer for Me?
How do you pay for long-term care needs? Seventy percent (70%) of seniors will need some form of long-term care. Yet Medicare and your health insurance policy will not pay for those costs. Many assume they must pay for long-term care (LTC) out of their own funds or...
When the Need for Long Term Care Arises in an Instant
The need for long term care can last for years. This is true even for residents of nursing homes, the most expensive level of long-term care. According to one study, most nursing home patients will be there for at least a year. In fact, almost 25% will remain patients...
The Worth of Values vs. Valuables
Previously I have written about the heartbreak I see in some seniors who feel as if they are nothing more than a source of money or assets to those who they leave behind when they pass. No estate can exceed the blessing of the lives and lessons we learn from those who...
Business Law
Have You Considered These Options to Pass on the Family Business?
For the last several posts I have addressed critical steps for parents who desire to pass on the farm, ranch, or other business to the next generation. Last post, I gave the example in which one child wants to own/operate the business, but the others are not...
Use the Structure of Your Family Business to Help Your Estate Plan
At some point, every family business owner considers what will happen when they are no longer able to run their business. Will they be able to retire when they are ready and successfully pass on the business? For this to happen, family business owners must identify...
How Can I Pass on the Family Business to One Child and Still Be Fair?
The strengths, skills and persistence that build a successful business are also skills that help prepare that business for a successful transition to the next generation. Unfortunately, many business owners do not see the importance of using those same skills to...
Frequently Asked Questions
Are Your Vulnerable Loved Ones Prepared for This Scam?
Like me, you have no doubt read a consistent stream of stories about seniors who have been victimized by scams. According to the Federal Trade Commission (the federal agency charged with consumer protection), imposter scams are the most commonly reported scam. An...
How to Protect Vulnerable Family Members from Scams
Your vulnerable family members are at constant risk of a scam. Technological advances have made this an even more serious risk. Scammers half a world away have the ability to identify vulnerable victims in our community. To protect your family, consider the...
How You Can Protect Vulnerable Loved Ones
Technology has brought us great progress. Unfortunately, it has also brought significant risks. Criminals can now victimize people from across the world. They can also reach our vulnerable friends and family inthe privacy of their own homes. The FBI reports that...
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