Idaho Law Blog
There are many times when I am helping my clients complete their estate planning that they bring to me the estate planning documents they created themselves online or through a software program they picked up at the local office supply store. Usually these documents are brought to me with the question of whether they are valid and enforceable in Idaho. Many times they are not. One of the ways that these types of a state plan usually fail is that they do not name successors.
A successor is a first, second, and third choice of persons that you have named to take care of portions of your estate planning for you when you are no longer able to do them for yourself. Most online and software estate plans do not provide for successors. There are three main reasons that you should name successors in your estate planning to help it be complete.
1. THE PERSON YOU NAME MAY REFUSE OR NOT BE ABLE TO SERVE
The basic appointments that you will make through your estate planning include the naming of a personal representative; naming the individuals who will hold the powers of attorney you create, and possibly naming Guardians and/or Trustees for your minor children. It’s important to understand that even if you have named an individual in your estate plan to do one of these appointments, this individual is not required to accept that appointment. Their circumstances made make it so that they are unable, or unwilling, to serve in that appointment. If you have only made one appointment and that person is unable or unwilling to serve then your estate plan suddenly becomes ineffective.
2. YOUR ESTATE PLAN SHOULD BE SPECIFIC
This leads to the next reason why you should name successors in your estate planning. Your estate planning should be specific. It should outline your own personal desires and wishes in a way that is clear and decisive so that the individuals you do appoint can carry out your wishes. If your estate planning only names one individual for the appointments listed above, then you are a state plan is not specific enough To take care of all the circumstances that could arise. As stated above any individual who is appointed under your estate planning could either refuse or state that they are unable to fulfill the appointment given. If there is no appointment that can be accomplished, your estate planning fails in its purpose.
3. YOU SHOULDN’T NEED TO CHANGE YOUR ESTATE PLAN VERY OFTEN
The final reason that you should name successors for the appointments that you have in your estate planning is that there should be no need for you to change your estate planning very often. By naming successors if the first choice is unable or unwilling to serve you have a second, and possibly a third choice inline who can still fulfill those appointments. It is highly unlikely that all three of the individuals you have name would be either unwilling or unable to serve in the appointment you have made.
Preparing a good and detailed successor list in your estate planning is very important to make sure that your wishes are carried out. If you have questions about the appointments that you have made in your estate planning, or if you find you need to name successors, we can help. Call us toll free at 877-232-6101 or 208-232-6101 for a consultation with Lane Erickson and the Racine Olson team of Estate Planning attorneys in Idaho. You can also email Lane Erickson directly at lve@racinelaw.net. We will answer your Idaho Estate Planning questions and will help you solve your Idaho Estate Planning problems.
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