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A trust is an effective tool to avoid probate in Idaho. A trust can hold virtually any asset, including real property, bank accounts, and vehicles. A valid trust will transfer ownership of your property to yourself as the trustee.

Ways to Avoid Probate in Idaho Create a Living Trust: A living trust is a legal document that holds your assets while you're alive and transfers them to your beneficiaries or heirs after your death. Since the assets in a living trust are owned by the trust, they don't go through probate.

Under Idaho law, if a probate is not commenced within 3 years of a person's death, the last will and testament of that person is no longer valid and can no longer be probated. As a result, the probate cannot be commenced, and the real property cannot be transferred through the probate process.

Tenancy in common does not avoid probate, and the interest of a co-owner who dies passes to their heirs.

Assets Subject to Probate in Idaho Real estate owned solely by the deceased individual. Bank accounts held in the decedent's name alone. Investment accounts and securities registered in the decedent's name only. Personal property such as vehicles, jewelry, and household items.

Claiming Property With Small Estate Affidavits If the total value of all the assets you leave behind is less than a certain amount, the people who inherit your property may be able to skip probate entirely. Instead, your inheritors use a sworn document (called an affidavit) to collect property.

The first is called Informal Probate, the second is Formal Probate and the third is Summary Administration of Estate where Surviving Spouse is Sole Beneficiary. affidavit may be used if the decedent did not own real estate and had personal property with a net value of less than $100,000.

Key Differences Between Formal and Informal Probate Formal Probate: High level of court supervision, with multiple hearings and judicial oversight. Informal Probate: Minimal court involvement, with fewer hearings and more autonomy for the personal representative.

Trusts Can Avoid Probate A trust is an effective tool to avoid probate in Idaho. A trust can hold virtually any asset, including real property, bank accounts, and vehicles. A valid trust will transfer ownership of your property to yourself as the trustee.