Revocable vs. Irrevocable Trusts

Revocable vs. Irrevocable Trusts

Revocable vs. Irrevocable Trusts In general, a trust is a separate legal entity that a person sets up to manage his or her assets. Trusts are set up during a person’s lifetime to assure that assets are used in a way in which the person setting up the trust deems...
What is Probate?

What is Probate?

What is Probate? What is Probate? Essentially it is a legal process that takes place after someone dies. It includes several steps: proving in court that a deceased person’s will is valid (usually this routine matter)  identifying and inventorying the deceased...
What Happens if a Will is Lost or Destroyed?

What Happens if a Will is Lost or Destroyed?

What Happens if a Will is Lost or Destroyed? This is a great question that creates many legal issues. I will address the easiest issue first. What happens if a Will is destroyed? According to Idaho Code § 15-2-507, when a will is “burned, torn, canceled, obliterated...