The death of a loved one is never easy. Regardless of your relationship with the deceased (for example, a relative, significant other, or close friend), you need space and time to process and grieve your loss. Once you have had time to cope with all that has happened, you should consider updating your estate plan in light of your loved …
Most people believe that receiving a large inheritance from a loved one would be life-changing. At least one study, however, found that about one-third of Americans who had received an inheritance eventually experienced a decrease or no change in their wealth after receiving the inheritance, meaning that they most likely spent everything they received.¹ For baby boomers who received an inheritance …
Congratulations on the purchase of your new home! Whether this is your first home or you are upgrading or downsizing from your current home, the purchase of a home is a big event in your life. When major life events occur, it is important that you have a plan in place to ensure that you are properly prepared for the …
Understanding the Importance of Probate in Idaho When a loved one passes away, dealing with their estate can be overwhelming. At Twin Falls Estate Planning, we understand the emotional and legal complexities you’re facing. One crucial step in this process is probating the will, but what happens if the executor doesn’t follow through? Let’s explore this important topic and how …
If you’re living in the Northwest and looking to start your own business, Idaho is a great place to do so! Idaho’s business-friendly environment, with its low operating costs and supportive entrepreneurial ecosystem, makes it an attractive destination for startups and established businesses alike. There are a number of factors that may feel prohibitive such as navigating the legal requirements, …
Navigating the probate process in Idaho can feel like traversing a legal minefield. Whether you’re planning your estate or handling a loved one’s affairs, understanding common probate pitfalls is crucial. In this comprehensive guide, we’ll explore the five most common probate mistakes in Idaho and provide practical strategies to avoid them. By the end, you’ll be better equipped to handle …
When a loved one passes away, dealing with legal matters is probably the last thing on your mind. However, understanding probate in Idaho can save you time, money, and stress during an already challenging period. In this comprehensive guide, we’ll walk you through the ins and outs of Idaho probate, helping you navigate this complex process with confidence. What is …
Disclaimer: This article does not constitute legal advice. Please consult with an attorney. The Corporate Transparency Act (CTA) is a groundbreaking piece of legislation enacted by Congress as part of the National Defense Authorization Act (NDAA) on January 1, 2021. The CTA aims to enhance the United States’ anti-money laundering laws and improve the country’s safeguards against illicit financial activities. …
Last week we explored 7 ways to show your finances and your family some love with smart, tax-advantaged financial tips for the new year: Make a Qualified Charitable Distribution (QCD) Front-load Your 401(k) Contributions Set Up an IRA for a Child Make Donations During Spring Cleaning Give the Gift of Appreciated Stock Shares Establish a 529 College Plan Make a …
This week, we explore seven tax planning tips that not only secure your financial future but also spread love and prosperity to those you cherish most. Now I know what you’re thinking – that doesn’t sound as fun or showy as a fancy night, a bouquet of flowers, or even a night in with Netflix. But trust me, making smart …
