Boise Wills & Trusts Lawyer

Preparing for death requires careful consideration of your assets and the people you want to inherit from you. At Johnson May, we realize many people dread thinking about the future, especially growing older. But with the right preparation, you can draft a will or trust that makes the distribution of your estate easy on loved ones. Call Johnson May to speak with a Boise wills & trusts lawyer.

Dying Without a Will

Dying without a will is called dying “intestate.” Your estate will still need to go through the probate process, but your assets are distributed according to Idaho’s intestacy rules. You lose all control over who inherits from you.

Administration costs typically increase with intestate estates, and your loved ones can wait longer to gain access to assets. If you have minor children, then the court will need to determine who will serve as their guardians.

How a Will Can Help

Drafting an effective, valid will is the best way to take control of what will happen when you pass. With a will, you can:

• Identify who will serve as the personal representative for your estate. This person has critical duties in probate, including gathering your estate assets, paying all bills, and handling any litigation involving your estate. This person literally “represents” the estate after you are gone.
• Choose who will inherit your estate assets. You can give specific items to individuals or split the entire estate between two or more people. It’s possible to disinherit a child or other relative, though harder to disinherit a spouse.
• Name guardians for your minor children. Should you pass away in a tragic accident while young, your guardians will raise your children.

No two wills are exactly the same, but you need to create one according to Idaho law. If you just draft one on your own, you could easily make an ineffective will and invite a legal challenge in probate.

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Legal Requirements for a Will

Idaho’s legislature has created the following requirements:

• Only an adult aged 18 or older (or an emancipated minor) can create a will if they are of sound mind. (Idaho Statutes § 15-2-501.)
• Every will should be in writing. Oral wills are not effective. (Idaho Stat. § 15-2-502.)
• The person creating the will (the testator) must sign the will or have someone sign in the testator’s presence and by their direction.
• Two witnesses must sign the will after watching the testator sign or after the testator acknowledges the will to them.
• Witnesses must be generally competent adults at least 18 years of age.
• Handwritten wills are called “holographic wills,” and they are legal, although they can create problems.

These are bare minimum requirements for a will. When a will doesn’t satisfy these formalities, a probate judge will likely refuse to admit it into court. That means you will die intestate.

How a Trust Can Help

Johnson May is experienced creating wills along with trusts. There are different types of trusts, including living trusts, which you create while alive. A testamentary trust is created by your will at death.

Our firm can help identify the right trust for you:

• Special needs trusts. This is a great way to provide for a disabled individual without disqualifying them from needs-based government benefits.
• Charitable trusts. You can provide for a charity, which has the benefit of lowering the value of your estate for tax purposes. However, these are typically “irrevocable” trusts, which means you can’t easily undo them once created.
• Spendthrift trusts. You might want to limit the ability of your beneficiary under the trust to gain access to their assets. For example, a young adult might blow all the money at once, so you limit the amount they can get each year until they reach a certain age.

Call Johnson May to discuss how a trust can help with your estate plan. A trust does not go through probate, so it remains private.

Why You Should Avoid D-I-Y Estate Planning

Many people try to create a will using a computer program or maybe a “fill in the blank” form. This is a good way to ultimately undermine your estate plan:

• Programs might not be designed specifically to create a will that will stand up in Idaho. Each state has its own requirements. If you don’t follow Idaho’s formalities, then your will can be thrown out of probate court. That will only increase the cost of probating your estate, leaving loved ones with even fewer assets.
• A lawyer helps you identify all estate assets, even intangible assets like crypto, intellectual property, business interests, and digital assets. You want to ensure you leave every asset to someone.
• An experienced wills attorney can help you identify a proper personal representative who will discharge their duties effectively. You will also need to appoint a trustee to manage any trust after you are gone. We can help you think through your options.
• Our firm can discuss whether a trust will help your estate plan and then create one that is fully effective. If you work without a lawyer, you could choose the wrong trust.

Call our office to discuss fees. We believe in transparent pricing and a stress-free experience.

When Should You Revise a Will or Trust?

Getting an estate plan in place is a relief. Nonetheless, life continues to change, and many of our clients need to update their estate plan, including their will and/or trust:

• After divorce;
• Before marrying or getting remarried;
• After the birth or adoption of a child;
• When you inherit or acquire large properties;
• If you change your mind about who should inherit from you or serve as your personal representative;
• When your selected personal representative dies before you.

We highly encourage that everyone take a fresh look at their will or trust every 10 years. That way, you can make sure it continues to serve your needs.

Call Us to Speak with a Wills & Trusts Lawyer

Johnson May has seen how creating an estate plan brings families closer together and helps relieve stress. Many of them describe finally creating a will as an empowering experience. Contact us to schedule a consultation with a member of our estate planning team.