Phone: 208.367.0723______E-mail: [email protected]
SERVICES
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ESTATE PLANNING
TERMS TO KNOW
Power of Attorney
A legal document which gives an agent the power to act on behalf of a principal in financial and other designated matters. The Power of Attorney may be drafted to take effect immediately (Durable) or upon incapacity (Springing).
Trusts
A trust is a legal entity that is able to own property and other assets. A Revocable Living Trust can be used to remove property & assets from the probate procedure, reduce estate taxes, preserve privacy, and manage financial affairs.
Wills
The most well known of estate planning tools. A will, if drafted and executed according to state law, will ensure that your property is dispersed according to your wishes and that your loved ones are provided for as you intended.
Supplemental Needs Trusts
May be established and funded by a third party
and contain restrictive language to ensure that the resources are not considered “available resources” under the eligibility criteria for governmental programs. Designed to provide additional funds to enhance the quality of life of a family member or friend with a disability under the age of 65 and not living in a nursing home. Any resources remaining upon the death of the beneficiary are distributed according to the terms of the trust to other beneficiaries.
ESTATE PLANNING
Estate planning involves arranging and managing assets to ensure your wishes are fulfilled after death. It includes creating wills, trusts, and powers of attorney to manage asset distribution, minimize taxes, and support loved ones, aiming for a smooth transition and fewer conflicts.
Phone: 208.367.0723 E-mail: [email protected]
Living Will & Durable Power of
Attorney for Healthcare
A legal document which gives an agent the power to act on behalf of a principal in financial and other designated matters. The Power of Attorney may be drafted to take effect immediately (Durable) or upon incapacity (Springing).
Special Needs Trusts and
Supplemental Needs Trusts
These trusts are appropriate for individuals and parents of individuals receiving or likely to receive government benefits, and who wish to ensure the individual beneficiary’s quality of life. Special Needs Trusts and Supplemental Needs Trusts allow a disabled beneficiary to receive gifts, settlements, or other funds and yet not lose their eligibility for certain government programs
and ensuring quality of life. An example of a settlement received might be a claim for personal injury resulting in disability.
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The information on this site is general and not a substitute for legal advice. Consult a professional before acting on it. This site does not create an attorney-client relationship. Email is not secure or confidential. This material is advertising under Idaho Rule of Professional Conduct 7.3. © 2024 Advanced Legal Planning, PLLC. All rights reserved.