Wills serve the important function of directing your estate where you would like it to go after your passing. Without a will, the State
will control the handling of your estate. A will ensures that the recipients of your estate will receive the allotment as you have directed. Don’t take a chance with what gets left behind for your loved ones. A reliable Idaho Falls estate attorney can help make sure the handling of your estate will be in accordance to your guidelines.
Video Transcription:
I get asked that question a lot. And the answer really is, if you want to have any sense of direction where things are going to go after you pass away, then you need to have a will. Otherwise, there’s some default ways that the state will tell how your assets or your money should go. But you won’t have any control over those.
Can I write my own will?
Writing your own will may prove tedious, and regulatory measures regarding the validating of wills can be complicated and vary depending on a number of conditions. Your attorney can help make sure that your will is satisfactory in regards to these requirements and ensure that it will be validated, as well as keep you up to date on current regulations and conditions.
Video Transcription:
You can. The only things you’ve got to watch out for are there are statutory requirements that you’re going to have to watch out for. For example, does the testator sign that in the presence of witnesses, and how many? Is there a need for a sub proving affidavit? Those are the kinds of things that I think people get hung up on most. And so it’s important that if you’re going to write your own will, that you make sure that all of those statutory requirements are in place to make sure that your will will be valid when you are completed with it. Because I think the last thing that you will want to do is write a will that doesn’t comport to the will requirements in the state of Idaho or wherever you are living, and then have it invalidated at the end of the day.
Do I need A Trust?
A Trust is a crucial part of handling your estate. A trust can help preserve your estate for children under the age of 18, and allow them to access it upon maturity. Often, Children may not be equipped to properly handle funds. Allowing the funds to remain secured until the recipient or recipients reach the appropriate age to handle the funds wisely.
Video Transcription:
Trusts are very important if you have children who are under the age of 18. That’s the way that you can put assets for their benefit without them actually having control of it. Whenever we do a will, we always try to put a trust for the children as part of that will, because it’s very important that the children don’t have the ability to go spend all of your money. You want it to be there for them. Protect them from themselves so to speak.
How much does a will cost?
The cost of a will can vary depending on complexity and particular requirements. Your Idaho Falls estate attorney will be able to help you make the best decision regarding the handling of your estate, and give you peace of mind when it comes to making sure that your loved ones get their portion of the estate.
Video Transcription:
Yeah, that’s a great question, and it really comes down to how much time the attorney really has to spend to put this will together. In a very simple will, oftentimes the attorney is going to meet with the client and make sure they understand the issues that are there, draft the will, and then come back and meet with the client again to make sure that everything is the way that they wanted it. That process takes about two to three hours total. If there’s much more complicated issues, if there’s significant inheritance questions or those kinds of issues, then it can become much more involved. Most attorneys will bill on wills on an hourly basis and so it really just depends on how complicated the issue is going to be.
At some point in your life you realize that you are responsible for protecting your family’s financial future. It is important to find a quality Idaho Falls estate attorney. Life insurance and gathering assets in accounts with banks, credit unions, mutual funds and investments are common steps to take. Scheduling a meeting with Pendlebury Law Office, PA is also a step to take to secure your family’s financial future, as you can discuss your options should you become disabled or pass away.
Wills and Living Wills
Every person should have, at a minimum, a Will. A Will may be complemented by two Powers of Attorney - one for your finances and one for health care. Many Wills can also be informally probated, allowing a quicker and less expensive alternative to lengthy probate procedures. Idaho also has provisions for a living will, which, in conjunction with a health care power of attorney, can help you make decisions regarding your care should you become unable to communicate your desires in the future.
Power of Attorney
Financial Power of Attorney - The Financial Power of Attorney is a legal document which can allow your close friend or family member(s) to formally aid you in your financial matters should you become older or otherwise need assistance in managing your affairs, including writing checks, signing tax returns, and otherwise managing assets. A Financial Power of Attorney is an effective alternative to placing others names onto your accounts or ownership interests, as adding names to accounts and ownership interests could become problematic should the other party file bankruptcy, become divorced, become a defendant in a suit, or otherwise have judgement entered against them. The feeling of comfort with having your estate in order is priceless. Our fees in this area are reasonable, allowing access to appropriate estate planning for anyone who wants to protect their loved ones.
Health Care Power of Attorney – A durable power of attorney for healthcare covers all health care decisions, and lasts only as long as you are incapable of making decisions for yourself. However, you can set out specific provisions in the Power of Attorney telling your agent how you would like them to act in regards to deathbed issues. In choosing a person to be your agent, you should choose someone you trust. It’s important that your agent acts on your behalf in accordance with your wishes. You’ll likely want to sit down with your agent and spell out, verbally, what you’d like done in certain circumstances. This way, your agent will hear it directly from you and not be surprised when he or she is asked to make decisions on your behalf.
