Estate planning attorney offers truthful advice about how to take care of your wealth
Estate planning attorney in Boise and Nampa ID takes care of any concerns you may have about wealth planning. Most people draw concerns from the information they hear all over the market.
Most of the information available over the internet or among peers can be confusing. You should consult with the experts to have a better idea into what the estate planning process entails. This article debunks some of the most common estate planning myths.
Being married eliminates the need for an estate plan
Although marriage can make property distribution easier, it is wise not to skip on estate planning. There are cases where couples have varying decisions about how to split the estate. This can bring challenges in the sharing of wealth among beneficiaries or executing financial or medical power.
A will avoids problems when the surviving spouse chooses to remarry or they have a bias in distributing inheritance among children.
You need trust to avoid probate
There might be less expensive and complicated ways to avoid probate, but many people create estate plans particularly to aid their heirs in doing so.
First off, if you own property jointly with your spouse or another person, it usually passes to the other owner(s) without going through the probate process. Second, for as long as at least one designated beneficiary is alive, certain assets, like as life insurance, annuities, and anything in a retirement plan, such a 401(k) or an IRA, are exempt from probate.
Estate planning is only for rich people
Most people think you need to have an estate or be rich to make plans which is not true. Estate refers to things that are in your possession like a car, bank account or home. Any amount of inheritance that your beneficiaries can get from you is a piece of estate and it needs to be planned for.
An estate plan offers guidance for loved ones during difficult times by protecting whatever the dependents are entitled to. The plan will ensure you have your finances well managed if you are to become incapacitated. Also, your attorney handles decisions regarding your healthcare by making sure they will be carried out as intended.
#1 Estate planning attorney in Boise and Nampa ID
Estate planning needs aim at protecting your wealth and dependents when you die or become incapacitated. You need a lawyer you can trust, so work with the best estate planning attorney in Boise and Nampa ID.
Jacobson & Jacobson Law Firm, since 1982, is committed to serving the Boise and Nampa, Idaho areas for your topCriminal Defense,Personal Injury, Business Law, Estate Planning, Family Law, Immigration Law, and Litigation needs. Contact us today to get started.