Wright Law Idaho Estate Planning & More offers professional advice to ensure successful legal results related to wills, trusts, business succession planning, and more.
Does Your Estate Plan Enhance or Undermine Family Harmony?
You may recall the story a few years ago about a local couple, married over 50 years, who passed away the same night. Although no one is certain, it appears that she fell, and in attempting to help her, he fell as well. They were found next to each other. It was a...
Who Owns the Home?
When counseling clients about estate planning, my primary objective is to help them maintain control of their estate. This includes helping clients ensure that, on their passing, their assets go to those they want to receive them. This result does not happen...
Will This Cost You The Home?
Last article, I gave the example of a man with children from a prior relationship who purchased a home with his girlfriend. When he dies, who will receive his share of the home? Since they are not married, the house is not community property. This means there is no...
Don’t Deed Your Home to the Kids (Yet).
People sometimes deed their property to their children while still alive in order to make sure the home goes to the kids after the parent has passed. However, this shortcut often comes with significant unanticipated risks/costs. When a homeowner dies, the home...
Will this Shortcut Help or Hurt?
I occasionally meet with people who have chosen to transfer their home to someone else while they are still alive. They do this by signing the deed to their home over to a child, spouse or someone else. When the deed is signed over, that home - in many cases, the...