Costs of Wills by Idaho Attorney

Costs of Wills by Idaho Attorney

In broad terms, Last Will and Testaments in Idaho fall into three main categories.

The first category is the genuinely simple Will.  It directs who is to inherit a person’s property upon death and it designates the Executor who is to make sure that the terms of the Will are followed.  For a single person, Idaho attorney Barry Peters will professionally prepare a simple Will for just $245.  That fee includes one meeting to discuss the details of the Will and a second meeting at which the Will is signed, properly witnessed, and notarized.  For a married couple, the cost of both Wills is a total of just $325.

The second broad category of Wills are those for the parents of children who are not yet old or mature enough to handle an inheritance responsibly.  These Wills include trust provisions under which the inheritance will be held and managed by a trustee until the children are old enough to manage the inheritance themselves.  They also designate the person who is to raise a minor child in the event the parent passes away before the child is grown.  For a single parent, Boise-area lawyer Barry Peters will prepare a Will with such trust provisions for a fixed fee of just $395.00.  For a married couple, the fee will be $495.00 for both the Wills together.

While these two options are very reasonable, they do have one or two significant drawbacks.  First, these estates must be taken through the delay and expense of the probate process.  For more information on the probate process, read the materials here.

For persons in Boise, Meridian, Eagle, Star, Nampa, or other nearby communities – in fact, anywhere in Ada County or Canyon County – who have substantial property (real estate, bank accounts, stocks and bonds, etc.) there is also the risk of estate taxes being due.  Simple Wills and Wills with trust provisions for minor children do nothing to maximize the size of the estate that is permitted to pass free of estate tax at death in Idaho.

The final category of Wills are called Pourover Wills.  They are prepared in connection with a Living Trust.  They serve as a safety net to move any assets to the trust that didn’t get transferred to the trust when it was set up.  Though short, these Wills are an important part of a much more comprehensive estate plan that (1) avoids probate, (2) plans for the possibility of disabling illness or injury during life, and (3) reduces or eliminates estate taxes.  For the total package of documents needed to properly set up a Living Trust, lawyer Barry Peters’ fixed fees are just $1,495.00.

As a person considers which attorney or lawyer to use to prepare a Last Will and Testament or a Living Trust, it is important to comparison shop.  By using an attorney who operates on a fixed-fee schedule, unpleasant surprises can be avoided.  Lawyers who are unable or unwilling to specify the amount of their fees in advance — or at least a range of fees — should  be a concern.

Satisfied clients are another important indicator when comparing attorneys.  That’s why Barry Peters’ web site includes testimonials from many of the satisfied clients who have used his services.

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Whether you live in Boise, Meridian, Eagle, Star, Nampa, or other nearby communities – in fact, anywhere in Ada County or Canyon County – for additional easy-to-understand information on Idaho Wills, Trusts, probate, and estate taxes, visit the user-friendly website at BarryPeters-Law.com.  Then call attorney Barry Peters’ offices at (208) 939-2600 for an expedited appointment to begin the process of setting up your own Living Trust.  Or, if you have questions, please call Barry for a free telephone consultation or visit his Q & A pages at BarryPeters-Law.com/common-questions.  As always, your total satisfaction is guaranteed by Barry Peters, Attorney at Law, where all clients receive individual attention to the details of their unique circumstances.