WHAT TYPES OF ESTATE PLANS ARE THERE?

By Lane V. Erickson, Idaho Estate Planning Attorney The real purpose of estate planning is to meet your specific individual needs. In other words, there really is no cookie-cutter approach that can benefit every single person because each person is unique and different. As a result, a good estate plan will take into consideration all of your peculiar, individualized, and unique circumstances and then create a plan that will meet your needs. As an estate planning attorney for the last 20 years I have seen just about every type and kind of estate plan that a person can come up with. I usually see these after the person has passed away and their family or other loved ones are coming to me for advice or counsel on what they need to do. As I have helped my clients and their families through this process, I have come to realize that there really are only three types of plans that exist when it comes to estate planning. These plans are listed below along with my comments about whether…

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