Aiming to keep your Trust as simple as it can be, but not at the expense of the important issues to you and your family, covering future potential situations, and managing family relationships after you have passed.
Trusts
Whether we are talking about a Living Trust or a Family Trust, a Trust is a living document, which means it is controlling as soon as you sign it. While a Trust is generally used to express the same three commands as a Will, a Trust affords you more flexibility and offers additional options, including:
Avoiding the public administration called Probate;
Distribution provisions that dictate when a minor, an immature beneficiary, or a beneficiary with special needs, will receive all or a portion of the inheritance;
Beneficiaries, including surviving spouses, do not need to worry about going through the time and expense of public Probate Court proceedings; and
Planning for situations unique to your family, i.e. blended families, children with special needs, adult children you have a guardianship over, among other ideas, that can cause problems for your beneficiaries if the inheritance is left to the discretion of the State of Idaho.
