Boise Probate Attorneys, Idaho Estate Planning Lawyers, Probate, Wills, Estates and Trusts, call today (208) 472-2383 or visit www.kershisniklaw.com Free Consultation
As a Boise Probate Attorney I often get calls from people wanting to know what they can do if they have property in the jurisdiction that needs to be tended to while they are out of the state. Or, another form of this question Boise Probate Attorneys hear is what do you do when you leave your children in the jurisdiction with a babysitter while you leave the country?
These types of issues can easily be handled with a Power of Attorney. A Power of Attorney gives someone you choose, your authority to handle your personal matters while you are away or incapable (having surgery, for example).
Idaho has specific requirements for Powers of Attorney. If it is in the proper form and properly executed the Power of Attorney has the same effect as if it were you handling your affairs. So, for example, if you are planning on going to Europe and you are leaving your young children at home with a babysitter you would want to execute your Power of Attorney, designating the babysitter or another trusted adult as the your agent. This would allow the babysitter or the adult to take the child to the doctor or the hospital and authorize medical care, or to call the child in sick from school or the like. If you don't leave a Power of Attorney the doctor or the hospital could deny the child care because you would lack authorization to get the care. The same goes for your financial affairs. If you have a piece of property listed for sale but you find that you will be out of the country and the property might sell before you return, you would execute a Power of Attorney authorizing your agent to sign the sale documents for you.
A Power of Attorney can limit the attorney in fact's power to a specific transaction or it can be a general power in case something uncontemplated arises.
Why is a Power of Attorney something Probate or Estate Planning Lawyers deal with? The law governing Powers of Attorney falls under the Idaho Uniform Probate Code. The Idaho Probate Code deals with Estates, Wills, Trusts and Probate and so Probate Lawyers are very familiar with Powers of Attorney.
What happens if you execute a Power of Attorney and someone refuses to accept it? If it is in the proper form and properly executed, anyone with whom you would deal with in person must accept the Power of Attorney and the actions of your designated attorney in fact. If they don't, unless they have a justifiable reason as outlined in the Idaho Probate Code, they will be ordered by an Idaho Court to accept it and will be ordered to pay your attorneys fees associated with having to hire a lawyer and going to court to make them accept it.
What happens if your attorney in fact makes a decision that you as the principal would not have made? The down side of a Power of Attorney is that you are bound by their decision, just as if you had made the decision yourself. It is important to choose your attorney in fact carefully and it goes without saying that it should be someone you trust.
There are numerous other situations where you could use a Power of Attorney, but these two examples give a idea of what an effective tool they can be.
If you need a Power of Attorney, need to speak with a Boise Probate Attorney or a Boise Estate Planning Lawyer, please call, (208) 472-2383.
Monday, March 14, 2011
Thursday, March 10, 2011
Boise Probate Attorneys - Idaho Estate Planning Lawyers - Non Probate Transfers
Boise Probate Attorneys, Idaho Estate Planning Lawyers, Probate, Wills, Trusts and Estate Planning, call (208) 472-2383 or visit www.kershisniklaw.com or www.lawboiseid.com - Free consultation.
Boise Probate Attorneys are often asked what, if anything, is a non probate transfer and why would someone want something to be transferred outside of a will? Firstly, you can avoid potential inheritance tax for your heirs if you transfer property outside of a will. Secondly, there are many ways to transfer property or income outside of your estate resulting in a non probate transfer.
Common ways Idaho Estate Planning Lawyers by-pass the testamentary transfer of property is through non probate transfers. Examples of these are trusts that are created during the lifetime of an individual. Idaho Estate Planning lawyers create a inter-vivos trust where the individual transfers all their property to the trust, but they retain control of the property during their lifetime. The trust names beneficiaries and upon the death of the individual the property passes to the beneficiaries without the need to go through probate.
Estate Planning Attorneys also often have their clients use life insurance as a way to pass income outside a testamentary devise. The insurance policy can potentially transfer a much larger sum of money than the individual paid in, and the proceeds from the life insurance policy transfer outside of the estate making a non probate transfer.
Another way to pass income outside of probate is through the use of bank accounts. If you have a joint account and one of the parties dies, the balance in the account becomes the property of the other party named on the account. Another bank account method to by-pass probate is the "Totten Trust" A Totten Trust is basically a P.O.D. account. By designating a bank account as a Totten Trust, payable on death to named beneficiaries, Probate Attorneys are able to help their clients create a trust to pass money outside of probate.
For other ways to create non probate transfers or if you need to speak to a Boise Probate Attorney or an Idaho Estate Planning Lawyer, please call (208) 472-2383.
Boise Probate Attorneys are often asked what, if anything, is a non probate transfer and why would someone want something to be transferred outside of a will? Firstly, you can avoid potential inheritance tax for your heirs if you transfer property outside of a will. Secondly, there are many ways to transfer property or income outside of your estate resulting in a non probate transfer.
Common ways Idaho Estate Planning Lawyers by-pass the testamentary transfer of property is through non probate transfers. Examples of these are trusts that are created during the lifetime of an individual. Idaho Estate Planning lawyers create a inter-vivos trust where the individual transfers all their property to the trust, but they retain control of the property during their lifetime. The trust names beneficiaries and upon the death of the individual the property passes to the beneficiaries without the need to go through probate.
Estate Planning Attorneys also often have their clients use life insurance as a way to pass income outside a testamentary devise. The insurance policy can potentially transfer a much larger sum of money than the individual paid in, and the proceeds from the life insurance policy transfer outside of the estate making a non probate transfer.
Another way to pass income outside of probate is through the use of bank accounts. If you have a joint account and one of the parties dies, the balance in the account becomes the property of the other party named on the account. Another bank account method to by-pass probate is the "Totten Trust" A Totten Trust is basically a P.O.D. account. By designating a bank account as a Totten Trust, payable on death to named beneficiaries, Probate Attorneys are able to help their clients create a trust to pass money outside of probate.
For other ways to create non probate transfers or if you need to speak to a Boise Probate Attorney or an Idaho Estate Planning Lawyer, please call (208) 472-2383.
Sunday, March 6, 2011
Boise Probate Attorneys - Idaho Estate Lawyers - Where to File Probate
Boise Probate Attorneys, Idaho Estate Lawyers, Wills, Estates and Trusts, call (208) 472-2383 or visit www.kershisniklaw.com, Kershisnik Law, PLLC
As a Probate Attorney one of the most frequently asked questions I hear is, "where do you file probate?" Idaho Uniform Probate Code says that probate should be filed in the county where the deceased person was domiciled at the time of death. That works fine and well if the decedent lived in Idaho at the time of their death. This leads to the second most frequent question I hear as a Probate Lawyer, "if Uncle Joe didn't live in Idaho, but had property here can we probate the will in Idaho?" The answer to that question is, yes. The Idaho Uniform Probate Code says that a will can go through probate in an Idaho Court if the decedent did not live in Idaho at the time of death but has property located here.
What Idaho Code 15-3-201 does as a practical matter is it uses domicile, or if their is not domicile, property, to determine where probate will be heard. Probate lawyers see it as a first come first serve basis. If the decedent didn't live in Idaho at the time of death but had property in Ada County, Boise County and Idaho County, the named personal representative can choose which county to bring probate in. If the first proceeding is an informal probate, a probate attorney can request a second formal proceeding and it is possible to transfer the probate to another county upon the finding that the other venue is more proper. Otherwise, the probate will remain in the first county and that county will order the probate to be carried out, even if their is property in other counties. Probate Attorneys know that domicile is always the best way to establish venue, but that is not always possible.
As a Probate Attorney one of the most frequently asked questions I hear is, "where do you file probate?" Idaho Uniform Probate Code says that probate should be filed in the county where the deceased person was domiciled at the time of death. That works fine and well if the decedent lived in Idaho at the time of their death. This leads to the second most frequent question I hear as a Probate Lawyer, "if Uncle Joe didn't live in Idaho, but had property here can we probate the will in Idaho?" The answer to that question is, yes. The Idaho Uniform Probate Code says that a will can go through probate in an Idaho Court if the decedent did not live in Idaho at the time of death but has property located here.
What Idaho Code 15-3-201 does as a practical matter is it uses domicile, or if their is not domicile, property, to determine where probate will be heard. Probate lawyers see it as a first come first serve basis. If the decedent didn't live in Idaho at the time of death but had property in Ada County, Boise County and Idaho County, the named personal representative can choose which county to bring probate in. If the first proceeding is an informal probate, a probate attorney can request a second formal proceeding and it is possible to transfer the probate to another county upon the finding that the other venue is more proper. Otherwise, the probate will remain in the first county and that county will order the probate to be carried out, even if their is property in other counties. Probate Attorneys know that domicile is always the best way to establish venue, but that is not always possible.
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