Posts Tagged ‘Estate Planning’
What Legal Planning Documents Do You Need in the Age of COVID-19? A Complimentary Guide.
The COVID-19 and Coronavirus Pandemic is a very loud wakeup call that they need to complete or revise their documents.
Read MoreSpecial Considerations for Women When Estate Planning
American women live on average 4.8 years longer than American men.Because women typically outlive their spouses, their estate planning documents are usually the ones that actually determine what happens to the family assets. However, the longer life span of women also means that women are more likely to experience a period of time at the end of their lives when they are unable to make their own decisions because they are incapacitated due to some medical condition.
Read MoreShould I Consider Creating a Gun Trust as Part of My Estate Planning?
If you own any firearms or other weapons that are specifically regulated by and registered under the National Firearms Act (“NFA”), a gun trust will likely be necessary in order to make sure that your beneficiaries are not committing a felony by taking possession of the firearms.
Read MoreHow Old Do You Need to Be to Benefit from an Estate Plan?
Most people that I meet associate the phrase “estate plan” with the rich and the elderly. I have written here before about why it is untrue that only the wealthy need an estate plan. Today we will examine how a person’s youth impacts their need for estate planning.
Read MoreHow Often Does an Estate Plan Need to be Updated?
A question I regularly hear regarding all types of estate planning documents is “how often should this be updated?” The answer depends, of course, on the individual circumstances. However, there are some general guidelines that can be helpful. Two questions to think about regarding updating your legal documents include – have there been any major life events since the documents were last updated, and have you looked through the documents in the past 2 years?
Read MoreSnowbirds Need to Pack Something Extra Before Heading South For The Winter
Many of our clients in North Idaho and Eastern Washington are “snowbirds”. I know some clients are even headed south early this year to escape the smoky air we’ve endured lately. If you are headed somewhere warm to spend the winter months, you will want to be sure you have packed more than just your sunscreen.
Read MoreHow Important is Estate Planning if You Aren’t Rich?
I’m often asked if a person needs a Power of Attorney document if that person already has a Last Will and Testament (“Will”). It is a good question. The simple answer for almost everyone is yes – you should have both a Will and a Power of Attorney document. Let’s look at what purpose each serve and why both are necessary.
Read MoreWho Has the Final Say About Organ Donation in Idaho?
Often, clients have asked whether this authorization should be in their Last Will and Testament (“Will”). Your Will is a document that is rarely looked at by anyone other than you until after your death – and certainly your doctor or attending health care providers at a hospital are unlikely to have ever read your will.
Read MoreFollow These 4 Steps to Assess Your Own Estate Planning Documents
Estate planning consist primarily in putting into place those legal documents that each of us need to deal with what happens if we become incapacitated and what happens when we die. If you have estate planning documents in place and have any doubt about whether those documents are complete or up to date, the best thing you could do is bring them to an estate planning attorney to review and discuss with you. Some law firms, like mine, may do this for you without charge as a complimentary consultation. Getting an expert’s advice on the status of your documents is very valuable.
Read MoreLast Will & Testament vs. Power of Attorney Documents… and why you need both
So why do we need both documents? Simply because your Will generally has no effect until you are deceased and your Power of Attorney document generally has no effect once you are deceased.
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