UNDERSTANDING WILLS AND OTHER IMPORTANT DOCUMENTS
Why Do You Need A Will?
There is a great deal of information online touting trusts and other instruments to transfer assets to beneficiaries, family members and heirs. For many individuals and families in Idaho, a last will and testament is the most efficient and appropriate estate planning document to memorialize your desires. Without a will, the state laws of Idaho will govern who will raise your children and receive your assets should you pass away. In writing a will, you can retain the ability to decide what is best for you and your family.
A will allows you to decide:
- Who will serve as guardian of your minor children
- Who should handle your estate and distribute your property and assets
- Who will receive your property and assets
At Ketlinski Law Office, PLLC, in Meridian, Idaho, I guide clients through the estate planning process, with a focus on individualized results. I explain the costs and benefits of the various estate planning tools in easy to understand terms to allow clients to make informed decisions. In addition to a will, I provide practical advice to protect your assets should you become incapacitated, such as:
- Living wills: Idaho law allows you to memorialize your wishes regarding end-of-life decisions should you be unable to speak for yourself. A living will lets your doctors and family know your desires about the use of life-support if you are unable to express your wishes due to a terminal illness or permanent vegetative state.
- Powers of attorney for health care: These are advance directives that allow you to appoint a person whom you trust to make important medical decisions on your behalf should you be unable to make the decisions for yourself.
- Powers of attorney for financial affairs: A financial power of attorney allows you to designate an agent to manage your financial affairs if you are incapacitated. Your agent can obtain legal authority to manage your financial assets, such as having access to your bank account to pay your mortgage.
- Parental powers of attorney: You can delegate your parental power over a minor child to a trusted relative with this important instrument.