Choosing People to Carry out Your Idaho Estate Plan
Idaho estate planning is about so much more than just giving your property away when you die. Additionally, a complete Idaho state plan gives you the ability to choose individuals who will care for you in the event you can no longer do that for yourself, as well as care for your property, debts, and money. With over 70 years of experience and helping clients with their Idaho State plans, we are confident that we can help you as well.
Our team of Idaho estate planning attorneys consists of partners Randy Budge, and Lane Erickson, and attorneys Nathan Palmer, and Dave Bagley. The lawyers in our Idaho estate planning team have obtained the highest ratings possible from several legal rating sources including Martindale and Hubbell, Justia, and AVVO. We are confident that with our experience we can help you.
When it comes to Estate Planning in Idaho there are several individuals that you do need to consider naming or appointing to a specific position. Here is a short list of the individuals you may need to appoint to carry out your instructions and to provide care for you and to protect your property and assets.Power of Attorney
The first individuals you should consider appointing are those that you will name to hold your powers of attorney. This would be for a power of attorney for your property and finances, and a separate power of attorney for your healthcare and medical treatments. These individuals should be trustworthy and should be capable of carrying out these functions.
For the power of attorney concerning your property and finances, this individual really could be located anywhere in the world. Through the internet, most individuals are now able to take care of paying bills, and dealing with banks and other financial institutions online, remotely. For this reason, it may not be necessary for the individual you appoint as your power of attorney over your property and finances to live close to you.
However, for a health care power of attorney things may be different. The individual you appoint to carry out these responsibilities will likely be going to the doctor's office with you when you are seeking treatment. They will also likely be going to the pharmacy to collect your medicines. Additionally, this individual may be looking into facilities that can provide long-term health care and living quarters for you. As a result, it is almost always the best idea for this individual to live close to you o that these responsibilities can be carried out.Trustee
In addition to Powers of Attorney your estate planning may also contain a trust. In this event, you will need to name and individual that you believe is capable who can act as the trustee. A trustee is the individual who is named and who is given the responsibility to carry out the specific instructions set forward in the trust. Trust administration could include things such as making small distributions over a long period of time, or it could be making one large distribution and closing the trust on a specific date or when a specific event occurs.
Regardless of the types of distributions that are made, the person that is appointed as the trustee has the responsibility of carrying out the instructions in the trust. If a trust is long-term, this also requires the filing of taxes, dealing with and protecting estate properties, and making reports to the individuals who are listed as the beneficiaries of the trust.Personal Representative or Executor
Even if you do not have a trust, you should at the very least have a last will and testament. This is the document that provides instructions on how you are giving your property away after you die.
The person responsible for carrying out the instructions in your last will and testament is the individual who is appointed as the personal representative or executor. Depending on the type of estate you have, and the property that is in your estate, the personal representative may be required to file probate proceedings to have your last will and testament recognized by the court and to have the authority to deal with your property.
For example, if you pass away at a time when your name is listed on the title or deed as an owner to real property in Idaho, a probate is necessary so that the property can be sold or transferred. The personal representative is the individual who is given the responsibility to complete a probate. The personal representative is also the individual who is given the authority by the court to transfer your real property either to whoever you name in your last will and testament, or to sell the property and distribute the moneys based on your instructions.Guardian for Minor Children
An additional appointment that should be considered, if you are a parent who has children under the age of 18, is the naming of a guardian for your minor children. The person that you appoint to this responsibility will be given the legal ability to be the guardian of your children and to take care of any property or money that you provide for your children directly through your last will and testament. Most parents take time to consider who they want to give this important responsibility to.Successors
In addition to making the appointments listed above, a complete Idaho state plan should also list successors for each of the appointments. This simply means that if the first person or people that you choose to carry out a responsibilities are either unable or unwilling to do it, you have a second and potentially a third individual that you have named who will receive that appointment as a successor. Those who you name a successors have the same responsibilities and duties as the original person you name.Enlist an Idaho Estate Planning Attorney to Help You
We are confident that our Idaho Estate Planning lawyers can help you. Whether you are seeking to create or review your own customized Estate Plan or would like to help a family member do the same, we are available to discuss your options and answer your questions at an initial consultation. Call us toll free at 877.232.6101 or 208.232.6101 for a consultation. You can also email us directly at email@example.com. We will answer your questions and help you solve your Idaho Estate Planning problems.