Articles Posted in Estate Planning

By Lane V. Erickson, Idaho Estate Planning Attorney

Having been an estate planning and probate attorney in Idaho for over 20 years, one of the most common questions that comes up with clients is what happens when a will is contested? This question comes up in different circumstances and for different reasons. Sometimes this question comes up because my clients are creating their own estate plan and they are worried that one of their family members may try to contest their last will and testament after they pass away. Alternatively, this question sometimes comes up with clients who want to contest the will of a family member who has passed away. It either of these is sought the legal process would be the same.

To explain what would likely occur in the instance of a will contest being made, I often refer to what has been come known as the Eggan’s estate case. This is a case that was decided by the Idaho Supreme on November 1, 1963. [For those of you who have a legal penchant the citation is 86 Idaho 328, or 386 P.2d 563.]

By Lane V. Erickson, Idaho Estate Planning Attorney

Having been an estate planning attorney in Idaho for 20 years, my practice also often includes assisting family and friends when a loved one has passed away. The assistance that I provide is through the probate process.

Most people don’t have much experience with the Idaho probate process or understand what it is. It’s for this reason that I provide a free 30-minute consultation to explain the probate process, and to answer the questions that my clients have. Part of this free 30-minute consultation includes my providing a diagram of the probate process, and discussing the steps involved, the timeline of the probate process and the costs and expenses that are usually included.

By Lane V. Erickson, Idaho Estate Planning Attorney

Life can sometimes offer some interesting lessons for us to learn. When it comes to wealth and owning assets, many of us look to celebrities and live our lives vicariously through their wealth, their fame, or the power they have. Sometimes we even think that these individuals have everything figured out and that they don’t make any mistakes in their lives.

Having been an estate planning attorney now for 20 years I can tell you that even the rich and famous sometimes make incredible mistakes when it comes to their estate planning. They make these mistakes for the same reasons that many of us do. We simply aren’t knowledgeable or experienced enough to understand what needs to be done. It’s for this reason that we always recommend that if you are considering getting your estate planning done or if you have had a family member or loved one pass away recently and you are looking at the probate process, you should hire a qualified and experienced Idaho estate planning and probate attorney to assist you and your family. By doing this you can avoid some of the basic mistakes that even celebrities make.

By Lane V. Erickson, Idaho Estate Planning Attorney

Having been an estate planning attorney now for 20 years, I firmly believe that every individual can benefit from having a least a basic written estate plan. A basic estate planning includes not only a written last will and testament, but also a durable power of attorney, a living will, and a power of attorney for health care. Most people are familiar with a written last will and testament but most people don’t understand or know what the other basic a documents listed above can do for them. It’s for this reason, that this article is dedicated to discussing why every person should have a durable power of attorney as part of their basic estate plan.

To help you understand how important a durable power of attorney could be for you and your family and loved ones, this article will discuss what a durable power of attorney is, how having one can save your family money, and how having one could possibly save your family from having internal disagreements or fights. Hopefully this article will convince you that you too should create your own durable power of attorney.

By Lane V. Erickson, Idaho Estate Planning Attorney

Having practiced estate planning law in Idaho for 20 years I have come to find that the number one concern most people have when it comes to their estate planning is how it will affect or protect or provide for their children. In Idaho, a person is considered an adult if they are 18 years old or older. Anyone who is under this age is considered a minor. Protecting and providing for minor aged children is always an important part of estate planning. Additionally, even though a person may have adult children, they may still have concerns about how their children would handle the money, property, or other assets that they may receive from their estate after they have passed away.

One of the major focuses of estate planning that we assist our clients with is thinking about their children and how their estate planning can help these children. We take the time to go over the circumstances of each of the children our clients have to help our clients understand the choices they have and what they can do to assist their children regardless of their ages. Below are the two most important things that you should consider if you have children and you want to complete or update your estate-planning.

By Lane V. Erickson, Idaho Estate Planning Attorney

Having been an estate planning attorney for over 20 years, I can speak through personal experience in saying how important it is to use an attorney to help you create and keep your estate-planning updated. My experience is that some people what to try to save money and as a result will try to do their estate-planning themselves. In the end, this usually ends up costing more money because one of two instances usually comes up.

The first instance that usually comes up is that this individual will have a change in the circumstances of their life and will realize that they need to update their estate planning. They will then bring their estate planning into me to review and I will be able to see the specific changes that need to be made. Many times, we discover that the written estate planning documents the client did on their own have major mistakes in them that would cause serious problems for their family and loved ones after they pass away. The good news is that when it’s discovered during this time period changes can be made, and everything can be fixed.

By Lane V. Erickson, Idaho Estate Planning Attorney

Having assisted numerous clients with their Idaho estate planning needs, I’ve come to learn that not every individual needs exactly the same thing. Everyone is unique. The relationships, the property, the money, the assets, and the motives and goals of each person are based upon their personalities, needs, and desires. Because of this each person should have an estate plan that is as unique as they are. In other words, using cookie cutter estate planning forms, or giving each client the exact same estate plan will likely not meet their needs. It’s for this reason that we encourage each client to work with us to create their own individualized estate plan.

I’ve learned that the biggest problem in getting estate planning done for most people is that they simply do not know where to start. We certainly don’t expect our clients to understand estate planning the same way we do. It’s for this reason, that we provide our clients with our Estate Planning Questionnaire to help them get started.

By Lane V. Erickson, Idaho Estate Planning Attorney

As an estate planning attorney for more than 20 years, I’m always on the lookout for interesting stories about Estate Planning, and either how it has helped individuals, or how not having estate planning done correctly can cause problems. Most recently I have been interested in the story of world famous astronaut Buzz Aldrin and the interactions he has had with his family through his estate planning documents.

If you are not familiar with the circumstances here is a quick summary. Buzz Aldrin attained an estate plan with the help of some attorneys. Part of the estate planning created a trust in which a good deal of money and other assets were placed. Apparently, Andrew Aldrin, the son of Buzz Aldrin, was named as the trustee of this trust.

By Lane V. Erickson, Idaho Estate Planning Attorney

For over 20 years my Idaho estate planning clients come to me with questions and concerns they have about completing their own estate planning. My goal is to answer their questions and assist them in making meaningful decisions that they feel will provide the protections they need during their lifetime and will assist in distributing their money, property, and assets to their loved ones after they have passed away.

In providing protection for my clients while they are alive, a basic part of our estate planning documents always includes a living will. A living will is the document that a client can use to provide specific instructions to their doctors, and other healthcare providers, in the event they are in a terminal condition, they are being kept alive by life support, and they cannot communicate with their doctors. If these circumstances exist, a living will provides our clients with the ability to give specific instructions about what they do want and what they do not want as part of their medical treatment.

Bye Lane V. Erickson, Idaho Estate Planning Attorney

When it comes to estate planning perhaps the most useful thing the Racine Law Office offers to our clients is our free 30-minute consultation. During our free 30-minute consultation we can answer all of client’s questions and can also give them a basic understanding of Idaho estate planning and how a well-written estate plan can help them personally as well as provide for their family and loved ones after they die. We don’t expect our clients to understand estate planning the same way we do. Nor do we expect our clients to have the skill, or expertise necessary to help them know what they should and should not include as part of their estate plan. Our goal is to give our clients as much information as possible through the free 30-minute consultation to help them understand their options and to make decisions about what they would like to get done.

One of the most often asked questions I get during our free 30-minute consultation is whether it is really important that our clients have an actual written will. Many of our clients believe that if they have a written Last Will and Testament they will not have to go through probate. Alternatively, some people believe that it is only through a written will that a probate is required.