Probate and Trust Administration Attorney
What is probate?
The Idaho probate process is a court proceeding that allows the court-appointed Personal Representative (also known as Executor or Administrator) of the estate to have legal authority to re-title assets from the decedent’s name into the names of the decedent’s beneficiaries. Idaho allows for both formal (supervised by the court) and informal (unsupervised) probates.
If the decedent passed away with a valid will, it will control the appointment of the Personal Representative and the distribution of property. If the decedent passed away without a will, an Idaho court will decide who to appoint as Personal Representative, and Idaho law will determine who is entitled to receive the property. In either case, the court-appointed Personal Representative must collect the assets, pay creditors of the estate, and distribute assets to the beneficiaries.
All interested parties must be informed of the proceedings and a notice must be published in the local paper. Interested parties will have an opportunity to challenge the will. Any person or business owed money by the decedent must have a chance to make a claim against the estate. Once the process is complete, the representative provides the heirs and the court with a final accounting and a closing statement, and the probate is closed.
How much does an Idaho probate cost?
We charge a guaranteed flat rate for informal probate services that include all the necessary steps to prepare and finalize a probate. Let’s schedule an appointment to review your needs.
What is trust administration?
Unlike probate, trust administration doesn’t involve the courts, so long as the assets were properly titled in the name of the trust prior to death, and no one contests the trust. If you’re the Trustee, look to the trust document to understand your powers. You’ll see the trust contains two types of provisions: dispositive provisions that govern the distribution of property, and administrative provisions that govern the power of the Trustee, payment of taxes and expenses, rules for interpreting the trust instrument, and other procedural issues.
If there are assets titled in the name of a trust as well as assets titled individually in the name of the decedent, it may be necessary to conduct both a probate and a trust administration. In either case, when you serve as Trustee, you are personally responsible for the payment of taxes and creditors if the trust administration is handled improperly. Snake River Law can assist you through this process and answer any questions regarding trust administration.
How do I move forward with probate or trust administration?
As the Personal Representative of a probate estate or the Trustee of a trust administration, you have significant responsibilities and liabilities. Obtaining proper counsel and advice is critical to ensuring you carry out your responsibilities in a manner that minimizes personal liability. At Snake River Law, we will help you…
- Inventory and distribute assets
- Interpret legal documents correctly
- Deal with difficult beneficiaries
- Address income and estate tax issues
- Avoid personal liability as a fiduciary
- Properly complete and file court documents if necessary
- Properly deal with a special needs or disabled beneficiary
Give us a call at (208) 406-9885 for more information, or click the button below to schedule an appointment.
