Posts Tagged ‘last will and testament’
A Last Will & Testament is Not the Same Thing as a Living Will
Your Last Will & Testament is also where you appoint a legal guardian for your minor child in case both of the child’s parents are deceased. Doing so guides the court system and the family regarding the your wishes. For parents of young children, this may be the single most important part of a Last Will & Testament.
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.
Read MoreWhich Avoids Probate, A Last Will & Testament or a Revocable Living Trust?
For those who want to avoid the court-controlled process that takes place after a person’s death (known as “probate”) – using a Revocable Living Trust is typically the best way to do so. This document allows a married couple or a single individual to direct what shall happen to their assets and possessions. It will also indicate who will be in charge of carrying out those instructions, without the need for the involvement of a probate court judge.
Read MoreDo Wills and Trusts from Other States Work in Idaho?
People regularly move to Idaho from other states and bring with them wills, trusts, and power of attorney documents created in their prior state. Such people often ask me if their old estate planning documents are enforceable in Idaho. Generally, those documents are still valid in Idaho. However, there are some very important reasons to have estate planning documents from another state reviewed by an Idaho estate planning attorney. Let’s remind ourselves what each of these documents are and then consider some of the issues that create concern about out-of-state wills, trusts, and other estate planning documents.
Read MoreHow is a Living Will vs. different from a Last Will & Testament?
A Last Will & Testament is the document most people think of when they think about estate planning documents. Often a Last Will & Testament is just called a “Will”. This is the document you would use to leave instructions regarding what should happen to your possessions and assets when you die (who gets what), as well as who it is that should carry out your wishes (who’s in charge). This document is not used at all until you are deceased.
Read MoreHow Often Should You Review Your Estate Planning Documents?
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 MoreSpecial Needs Trusts can Help People With Disabilities
I find that most clients have some familiarity with the concept of estate plans, probate, guardianships and many of the other things we do at my law firm. However, one of our practice areas regularly puzzles people: Special Needs Trusts. Let’s look at these unique trusts and see what they can do.
Read MoreWhat Happens if you Handwrite Your Own Will in Idaho?
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From time to time in my practice as an estate planning attorney I come across a Last Will and Testament (a “will”) that is handwritten. If my client is the person who wrote the handwritten will, he or she is usually meeting with me due to a decision to formalize the estate plan. However, I am always asked in that scenario: “was my old handwritten will valid?” The answer, as it so often is with legal matters, is that it depends.
Read MoreThe Difference Between a Power of Attorney Document and a Last Will & Testament
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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.
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