Modern travel and communications have made the world an easier place to live and get around in. Our Estate Planning Attorneys in Pocatello have experience working with clients that move around more frequently. We also help clients who own homes or land in different states. Our Pocatello team of Estate Planning lawyers use their experience and knowledge to help our clients with their land and homes in Idaho and in other states. Our partners Randy Budge and Lane Erickson, and attorneys Nathan Palmer and Dave Bagley are members of our team of award winning attorneys who help every one of our clients understand and choose the options that will best protect their assets, and properties so they can be distributed after you die. Specifically, there are three (3) important things our team helps each of our clients understand so that they can fully plan and care for their real property.
Kinds of Real Estate OwnershipThe first thing we help our clients understand is the different types of real estate ownership. There are types of ownership which might eliminate the need for a probate. One type of ownership occurs when property such as a home is owned by spouses as joint tenants with a right of survivorship. When this type of ownership exists, in some states, all that needs to happen in order to transfer the land or home from the decedent after they die to the survivor is an affidavit of survivorship. The problem is that most ownership of property or a home does not include a right of survivorship. This is a unique type of ownership. Additionally, many states don’t recognize a right of survivorship as a legal way to transfer property. For these reasons, most ownership interest in real property must go through probate for legal title of the property to transfer from the decedent to another individual.
We have experience and understand how to transfer real property from a decedent to other individuals. Whether you want to transfer property through your Last Will and Testament or in some other way, we are confident we can help you.
Owning Real Estate in Different StatesThe second thing we help our clients understand is that owning land or homes in different states is not a real problem. When a good estate plan exists, the location of real property isn’t an issue. When a person passes away, the probate for that person will happen in the state where that person resided. All court proceedings and the appointments that are made of a Personal Representative and so forth all take place in that state. Our experience allows us to help our clients and their families through the probate process.
In this day and age, most states recognize the appointment of a personal representative that was completed in the state where the decedent resided. This makes the probate process easier because it allows the same person to take care of real property in other states. To accomplish this, there are summary proceedings in the other states called an Ancillary Probate that allows the personal representative to be given authority to take care of and transfer real property within their state boundaries. We help our clients through this process and through the steps of caring for and transferring real property regardless of the state it is located in.
Trusts and Real PropertyThe third thing we help our clients understand as they are creating their estate plan is that having a Trust that owns all of their real property will usually eliminate the need for a probate. When a trust is properly used, it obtains ownership of all of the real property. This ownership continues after the decedent’s death. Because the trust has ownership of the real property, the trust controls how it is transferred. Most importantly, the trust is administered, and property can be transferred, without any court being involved. While there are several steps involved, a trust can be easily created to own real property. The types and kinds of trusts range from very simple to complex depending upon the needs of our clients. With our decades of experience we are confident we can answer your questions and assist you in deciding whether a trust should be a part of your Pocatello estate plan.
Enlist an Idaho Estate Planning Attorney to Help YouWe can help you with your questions and concerns about owning real property in Idaho or in other states. Whether you are seeking to create a simple estate plan or a trust to transfer your real property upon your death, we are available to discuss your options and answer your questions at an initial consultation. Call us toll free at 877.232.6101 or 208.232.6101 for a consultation with the Racine Olson team of Estate Planning attorneys in Idaho. You can also email us directly at racine@racinelaw.net. We will answer your questions and will help you solve your Pocatello Estate Planning problems.