Create a Living Trust in Idaho

A living trust can help your family avoid the frustrations of probate court when you pass away. Rather than have your property go through probate court, you could use a living trust to avoid the process. Learn more about living trusts in Idaho.

Find out more about Living Trusts

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create a living trust in idaho

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Updated on: February 6, 2024
Read time: 3 min

An Idaho living trust is an estate planning tool that allows you to maintain control of your assets in trust during life and determine their distribution after death. A revocable living trust offers many benefits that you may want to consider.

Living trusts in Idaho

Creating a living trust in Idaho allows the trust-maker to place assets into the trust during life. A trustee is selected and can be anyone you choose. Most people choose to be their own trustee, but a successor must be chosen to manage the trust after your death. The trustee manages the assets with the direction to manage and use them for the benefit of the trust-maker during his life. As trust-maker you continue to use your assets as you normally would, living in your home and spending your money without a noticeable difference. After your death, your assets are then distributed to your beneficiaries.

A living trust in Idaho can take in almost all of your assets (exceptions include IRAs, 401(k)s, and Keoughs). A revocable trust can be altered or canceled by you at any time during your life. An irrevocable trust becomes permanent upon signing.

One of the biggest perceived benefits of a living trust is that it allows the assets in the trust to pass outside of probate, without a court proceeding. Idaho has enacted the Uniform Probate Code so its probate proceedings are uncomplicated, however it can still take months as well as the cost of an executor and attorneys to probate a will. There is a simplified estate process available for estates worth less than $100,000, so if your assets fall under this amount a trust may not make sense. If you do not have a trust or a will, your assets are distributed according to state intestacy statues which uses a statutory percentage for specific relations.

Do I need a living trust in Idaho?

A living trust in Idaho can offer many benefits. A trust allows you to keep all the information about your assets and beneficiaries out of the public record. A trust need not be approved by a court and does not become public as a will does. All of your plans remain private.

The trust also gives you total control of your assets during your life as well as after your death. While you are alive, you continue to manage and use your assets with no change. After your death, you can continue to control them through the terms of the trust. A will distributes assets upon your death, but a trust allows you to determine specific dates for disbursement if you wish.

In addition, because your assets are owned and managed by the trust, if you become mentally incapacitated, your assets are already being handled for you and there may be no need for a conservatorship.

Living trusts and estate taxes in Idaho

A living trust will not protect your assets from estate taxes in most instances. Currently the federal exemption for estate tax is just above $5 million, so estates over that amount are the only ones taxed. You can set up a marital trust, sometimes called a QTIP or AB trust, which transfers assets from a deceased spouse to a surviving spouse to avoid taxes on that transfer. Revocable trusts do not shield assets from Medicaid.

How to create a living trust in Idaho

To create a living trust in Idaho, you create and then sign a declaration of trust in front of a notary. You then transfer ownership of assets into the trust to fund it. At this point it becomes effective.

A revocable living trust offers a variety of benefits that may appeal to you and fill your needs. Creating a trust should be one piece of your estate planning.

Create an Idaho living trust online with LegalZoom. LegalZoom living trusts include a pour-over will, transfer deeds, a document organizer, and more.

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This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law.

54 days ago
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Grateful to Patti Green

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CU
56 days ago
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I had no Idea what to do to update my…

I had no Idea what to do to update my Living Trust. They answered all my questions and they also helped me get info I did not know I needed.

Bryan Q
62 days ago
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Living Trust Premium

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sremeikis
70 days ago
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I spoke to the representative today about a Trust...

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Gareth
72 days ago
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LegalZoom

I was impressed by the user-friendly interface and the outstanding support I received while creating a Revocable Living Trust. The ability to connect with support representatives in real time to address my questions was incredibly valuable. For those looking to establish a straightforward trust, I can highly recommend LegalZoom.

TDM
78 days ago
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Rida has been very helpful with respect…

Rida has been very helpful with respect o guiding me through the process of properly revising the Living trust for my elderly parents. His patience has been exemplary.

Frantz Michel
86 days ago
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Elizabeth Tisdale

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MARIA CORONA
86 days ago
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Taking the Initiative

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93 days ago
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Carmen was so patient with me

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Tina Garcia
96 days ago
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Tammy was wonderful and very…

Tammy was wonderful and very knowledgeable. It's because of her that I am going to open a living trust with legal zoom. She was great. Thank You

Erin
104 days ago
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Pleasant Experience

Patience and weel given explanation about the process of how a "Living Trust" & "Deed" works after transitioning and guidance on how to contact an attorney whenever I need legal advice.

Sharron Martin
104 days ago
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Excellent LegalZoom Attorney

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customer
113 days ago
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Happy with my initial contact with Legal Zoom

Rebecca fully answered my questions about creating a living trust. She is friendly and professional, and with my mind at ease, I am looking forward to starting this process with Legal Zoom. I am confident that this will be the best route for me to take to make things a lot easier for my family when I'm gone. (And, easy for me!) I plan to be in touch in the next several weeks. Thanks, Rebecca!

Carol
131 days ago
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Michelle very professionally guided me…

Michelle very professionally guided me with her knowledge and amazing patience through the entire process of setting up my Living Trust. I am so relieved and grateful for her help. I have used LegalZoom before and you are my go to for legal advice. Thank you again Michelle.

Paula Bateman
139 days ago
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Quality Staff

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Ady Filipescu
148 days ago
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Really great job in guiding me to…

Really great job in guiding me to finish my living trust .

Ronnie Ball
154 days ago
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5 Stars

5 Stars – Outstanding Customer Service from Tammy at LegalZoom I had the pleasure of working with Tammy from LegalZoom regarding my living trust documents, and I couldn't be more impressed. She was professional, patient, and incredibly knowledgeable. Tammy took the time to walk me through every step, answered all my questions clearly, and made a complex process feel simple and stress-free. Her attention to detail and genuine care made all the difference. LegalZoom is lucky to have someone like her on their team. Thank you, Tammy!

Cn
154 days ago
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Ease and help of making changes to my…

Ease and help of making changes to my living trust. LegalZoom rep walked me through the process without any difficulties. Really like working with LegalZoom.

Gregory Bechtol
161 days ago
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Enjoyed working with Kevin to finalize…

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JOHN in CALIFORNIA
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