WILLS & TRUSTS
The Value of Wills and Trusts
Both wills and trusts can be used to instruct how one's assets should be distributed after death. So what is the difference? One of the most important differences is that the instructions you leave in a will typically must be "approved" by a judge before they can be carried out - a court process known as probate. The instructions you leave in a trust document generally do not need any judicial involvement or oversight in order to be carried out. This also means that the use of a trust will usually maintain family privacy where a will and any other document (like asset inventories or distribution lists) that may be filed in a probate matter are public records.
So, which one is right for you? That question is nearly impossible to answer without sitting down and discussing your situation and your goals with a qualified attorney. At Kootenai Law Group, we would be happy to schedule a free, no obligation initial meeting with you to discuss these matters.
No one wants to be a burden on his or her friends and family. And no one wants to lose his or her independence. Yet, so many of my clients express deep concern about both. Seniors want to ensure that their families are not disrupted when the complications of life occur. Be it a fall and injury, the onset of dementia, an unexpected chronic illness, or just loss of energy and slowing down – seniors do not want their problems to effect those around them. Many of the seniors I work with have spent the bulk of their lives caring for others. They are rarely ready to be cared for themselves. My clients are often very realistic about the possibility that they need help with certain things or may even have to move out of their home at some point to receive adequate care. However, they also want and deserve to have the most important voice in those decisions.
What can seniors do to address these concerns? The answer lies in the old adage: “A failure to plan is a plan to fail.” Seniors wishing to reduce the chances of becoming a burden or losing their independence can do a lot to protect against these outcomes. Using Estate Planning to achieve Independence Protection should be discussed with a trusted and competent lawyer sooner rather than later. Unfortunately, many seniors do not realize that the time to lay the foundation for prolonged independence is now, not tomorrow. In a world where anything can happen, procrastination can hurt you.
Other Areas of Practice
Here at Kootenai Law, we specialize in cases under the Estate Planning section. Let our team help you with your Wills & Trusts, Power of Attorney & more!
Business law encompasses all of the laws that dictate how to form, operate, and exit a business. We can help our clients with articles of incorporation, business entity types
We deal with many Elder law cases here at Kootenai Law. Ranging from Guardianship, Medicaid Eligibility, Probate and more. Our Elder Law lawyers can help you out. Call us for an appointment!