If you have been smart, fortunate, and diligent enough to have amassed some assets in your lifetime that could be going to your children or others, you should take the steps to be sure your assets are handled properly. Common problems include giving young children or grandchildren access to large sums of money before they are mature enough to handle it properly, or not giving clear directions in your will. These, and other issues, can be handled by using an attorney who is familiar with wills and probate in Idaho.
When it comes to protecting young beneficiaries from themselves, you might want to consider the use of a testamentary trust. Setting up a trust during your lifetime is often prudent with sizeable estates. For lesser holdings, a testamentary trust may suit your needs. A testamentary trust is one that is created after your passing, but allows you to plan exactly how and when your descendants gain access to any funds. During your lifetime, you do not have to administer the trust or incur the cost of having one set up. A testamentary trust is designated and outlined as part of your will.
Estate planning is a complex and emotional task, and the advice of an experienced attorney and financial planner is essential to making sure all your wishes are followed.