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
How a Trust Can Help Protect Your Family
A properly drafted trust can be an extremely effective way for you to help set your children up for success. In fact, trust can allow parents to help their children in a way that a Will cannot. This can be especially true when children are dealing with serious...
The People You Leave Behind
I recall meeting with a client whose husband had suddenly and unexpectedly passed. Of course, she was grieving; but she was also frightened about her future. She had no idea what to do next when it came to “legal things.” She did know that she did not want her...
Are You Prepared for the Threats to Your Estate?
A trust is a very effective way to maintain control over your assets, even after your passing. Although a will can ensure your assets go to the people you want to receive them, a trust can help ensure those assets are protected from unintended results or misuse. In...
Medicaid Planning
Qualifying for Medicaid Assistance – Is Medicaid Assistance the Best Approach for Long Term Care?
Although Medicaid is only one way to receive assistance with the costs of long-term care, it is an important and appropriate option for many people. The good news is that Medicaid assistance is an option for those who have the requisite medical needs, even if they...
Qualifying for Medicaid Assistance – Part 6 – Asset Limits
To qualify for long term care assistance from Medicaid, a senior applicant must establish both health and financial need. Financial needs are determined based on both the income and the assets of the applicant. Previously, I have addressed the limits on income. ...
Qualifying for Medicaid Assistance – Part 5 – When Your Income is Too High
Last column I explained that a senior seeking Medicaid assistance for long-term care cannot have monthly income over a certain amount to qualify. However, there are different ways in which the applicant’s income can be calculated. What if the applicant’s income is...
Business Law
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...
Have You Considered These Options to Pass on the Family Business?
For the last several columns I have addressed critical steps for parents who desire to pass on the farm, ranch, or other business to the next generation. In the last post, I gave the example in which one child wants to own/operate the business but the others are not...
Would You Like to Pass on the Family Farm, Ranch, or Business?
A substantial part of my practice is spent helping families prepare to pass on the family farm, ranch, or other business. Given that this is usually the family’s largest asset, it is critical the process be done properly. Unfortunately, most family businesses fail to...
Frequently Asked Questions
What Does It Mean to Be of ‘Sound Mind’ When Signing Your Will?
I recall meeting with a man who asked me if it was too late. I could not give him the assurance he wanted. His mother was a stroke survivor and recently had a serious fall. These are two of the most common reasons seniors need long-term care, and both can occur in an...
What is a “DNR” and Should I Have One?
My clients often hear how important it is to have a Living Will as part of their estate plan. If death is imminent because of a terminal condition, and a doctor certifies there is no chance of recovery, a Living Will is the document that allows you to declare if you...
Do You Know if Your Aging Parent Needs Help?
It is not uncommon to receive a call from an adult child concerned about a parent’s decreasing ability to care for him or herself. Circumstances often require assistance the child does not have the ability to provide. A constant concern is the possibility of an aging...
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