Idaho Law Blog

3 Reasons Why Estate Planning is Affordable

Published on: February 8, 2017 | by Racine Olson

I have been an attorney now for nearly 20 years. Whenever I am introduced to new people it is common for them to ask what I do for a living. When I let them know that I am an attorney this leads to the next question that is asked: “What kind of law do you practice?” When I mention that I do estate planning most individuals indicate that they believe they don’t need an estate plan or that getting one would cost them too much money. This always leads to an interesting conversation about how affordable estate planning is compared to not having it done. Here are the 3 main reason Estate Planning is affordable now.

1. AVOID A FIGHT OVER CHILDREN

Idaho Supreme Court Clarifies Adverse Possession Time Restriction

Published on: February 8, 2017 | by Racine Olson

By: T.J. Budge

Idaho law recognizes the doctrine of adverse possession, whereby a person can acquire ownership of real property by occupying it for an extended period of time to the exclusion of others. This is sometimes referred to as a “squatter’s right.”

A person claiming ownership by adverse possession must prove, by clear and satisfactory evidence, that they have had exclusive and continuous possession of the property for the time period required by statute. Idaho Code 5-210 required a five year period of possession up until 2006 when the statute was amended to extend the time requirement to twenty years.

4 Things to Consider When Naming a Trustee to Your Trust

Published on: February 7, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

Many people consider creating a trust as part of their Idaho estate plan to help them in distributing their property to their loved ones. A trust is a way for an individual to protect their property and yet be able to avoid the cost and time associated with probate upon their death. 　A trust has to be administered by an individual who is named as the trustee. This individual has the responsibility and the ability to handle trust property and Nic distributions of trust assets. Here are four things to consider when naming a trustee to your trust.

1. ABILITY OF THE TRUSTEE TO HANDLE THE TRUST

ISP Reports an Increase in Wildlife Near Highways and I-84

Published on: February 7, 2017 | by Racine Olson

ISP cautions drivers across southwest Idaho to be aware of an increased number of deer and elk near highways and along I-84. The harsh winter conditions have driven wildlife closer to populated, well-traveled areas of the state.

Nationally, deer collisions are the cause of an estimated 1.23 million collisions per year, 200 deaths and $4 billion in damages each year. Drivers should be alert and scan the road for deer, elk and other danger signs.

In Idaho, thanks to the safety programs implemented by ITD and the Office of Highway Safety, deer collisions are on the decline. All drivers should keep in mind the following facts regarding deer and other wildlife: they are unpredictable; move in herds (if you see one, watch for others), dusk and dawn present the high-risk times, and they are present on all roads.

3 Reasons to Update Your Estate Planning

Published on: February 6, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

The one thing that we can count on in our lives is that things will change. Given a few years our lives may look drastically different than they did before. This is normal, and natural, but when it comes to estate planning it can cause some problems. Here are 3 reasons why you should consider updating your estate planning.

1. PEOPLE CHANGE

3 Ways Your Estate Planning Helps You While You Are Alive

Published on: February 5, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

Most people’s ideas about estate planning are just plain wrong. For instance, and most of my conversations with individuals about estate planning I learned that most people believe that estate planning has to do with how your property gets distributed upon your death. Well it’s true that this is an important part of your Idaho estate planning, it is not the only part. 　Here are 3 ways your Idaho estate planning can help you while you are alive and can enjoy the benefits.

1. PLANNING FOR YOUR OWN DISABILITY

3 Most Common Assets in an Estate Plan

Published on: February 4, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

In the course of my practice I often represent individuals who are named as Personal Representatives in the probate of a loved one. As I work with Personal Representatives one of the things I help with is determining the assets that belong to the decedent when they passed away. This is important because I often find that even spouses often don’t know all of the assets that are held by their spouse or other loved ones who have passed away. Here is a list of 3 most common types of assets that are in an estate.

1. REAL PROPERTY

Kidney Damage Due to Accidents.

Published on: February 3, 2017 | by Racine Olson

By Patrick N. George

Although we don’t really consider the kidneys when in a car accident, these small organs located in the small of a person’s back are vital to our welfare. Kidneys are pretty well protected since due to layers of muscle as well as the rib cage, but they can be injured in an automobile accident. When a kidney in injured, it can have terrible implications for a person due to the number of functions a kidney performs.

Trauma

The 3 Main Duties of a Trustee of an Estate Trust

Published on: February 3, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

A trust, commonly used in a family or with individuals who have extensive assets and want to protect those, and or by individuals who simply want to avoid probate, are effective and transferring property to heirs. I often have individuals who are named as Trustees of a trust seek my legal advice about what their duties and responsibilities are. these mainly depend upon the trust that is being administered, but I have found that there really are three main duties of trustee has in administering an estate trust.

1. PROVIDE NOTICE TO BENEFICIARIES

The 3 Main Duties of a Personal Representative

Published on: February 2, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

When clients come to me concerning dealing with the estate of a loved one who has passed away there are usually many questions they have. The person usually talking to me is the one who has been named as the personal representative in their loved one’s Last Will and Testament. One of the first questions that is usually asked by my clients is “If I am appointed as the personal representative will my duties and responsibilities be?” Well there are many things that need to be done in the administration of an estate, there really are only three main duties a personal representative has.

1. PROTECT THE ESTATE