Idaho Law Blog

3 Most Common Questions About Estate Planning

Published on: January 31, 2017 | by Racine Olson

I’ve stated in my previous blogs many times that I am passionate about Idaho Estate Planning. 　I firmly believe that almost all individuals will benefit from creating and having a current Estate Plan. 　In fact, during my 18 years of practicing Estate Planning I’ve never come across an individual whose live wouldn’t be benefited from having an Estate Plan. 　Given that a new year is upon us, I wanted to list the 3 Most Common Questions my clients have about Estate Planning in an effort to encourage you to complete your Estate Planning.

1. IS ESTATE PLANNING IMPORTANT FOR ME?

3 Reasons to Not Gift Your Home to Your Child

Published on: January 30, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

Several times over the last year I’ve had clients talk with me about their Estate Planning. In the course of our conversations I have learned that some of my clients have taken the step of gifting their home to their child, either out-rightly or through a Deed as a joint tenant with a right of survivorship included. My clients have indicated that they feel like it is a good idea to either give their home away to their child or to have their name on the title of the home with them. Sometimes my clients believe that by doing this they have taken care of the home and don’t need to worry about it as part of their estate planning. Here are the 3 main reasons why it is not a good idea to either gift away your home to a child or to name your child as a joint owner on a home with you.

1. YOUR CHILD’S CREDITORS

Fatal Crash in Canyon County – Tragic Loss for Small Community

Published on: January 30, 2017 | by Racine Olson

On Friday, January 27, 2017, a two-vehicle crash occurred on State Highway 19 at Allendale Road in Canyon County resulting in a fatality. ISP continues its investigation of this crash.

Twenty year-old Ismael Fernandez of Wilder was traveling westbound on the state highway when he crossed the center line and struck a Freightliner hauling two trailers loaded with beets. The Freightliner jackknifed and the second trailer overturned onto its side.

Fernandez, who was wearing a seat belt, was ejected from his SUV and transported to St. Alphonsus Medical Center in Boise where he succumbed to his injuries. It is still unknown what made Fernandez’s vehicle cross the center line.

Will any State or Federal Taxes Have to Be Paid on My Estate When I Die?

Published on: January 29, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

Often my clients use estate planning not only as a way of transferring property to heirs but also as a tax planning tool. In doing so my clients always want to know whether there is state will be required to pay any state or federal taxes when they die. The good news is that in Idaho there is no estate tax. As a result, no taxes need to be paid to the state of Idaho once a person passes away. However there is a federal tax. this provides additional information about the federal tax.

TAXABLE ESTATES

Disability is Inclusive of Impairment

Published on: January 29, 2017 | by Racine Olson

By Fred J. Lewis

On November 23, 2016, the Idaho Industrial Commission decided to substitute their opinion for the findings of fact and conclusions of law authored by Referee Alan Taylor. The Commissioners felt compelled to do so because of the competing opinions of Terry Montague and Dr. Mary Barros-Bailey. Apparently the Commissioners believed that there was still some ambiguity over the Supreme Court’s decision in Corgatelli v. Steel West, Inc. They included the following discussion:

The workers’ compensation laws recognize a distinction between permanent impairment and permanent disability. Sund v. Gambrel, 127 Idaho 3, 896 P.2d 329 (1995); Corgatelli v. Steel West, Inc., 157 Idaho 287, 335 P.3d 1150 (2014). Quoting from Seiniger Law FINDINGS OF FACT, CONCLUSIONS OF LAW, AND ORDER – 25 Offices, P.A. v. State of Idaho ex rel Industrial Commission, 154 Idaho 461, 299 P.3d 773 (2013), the Corgatelli Court observed:

5 Things You Should Do With Your Estate Plan for 2017

Published on: January 28, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

A new year is upon us and with the new year is an opportunity to make changes that will benefit your life for the better. One of the major things that an individual can accomplish to improve their situation is to complete their estate planning. Here is a list of 5 things that you can do immediately this new year to give yourself greater peace of mind.

1. TALK TO AN ATTORNEY ABOUT ESTATE PLANNING

8 Reasons to Update Your Estate Plan in 2017

Published on: January 27, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

Estate planning is like our own lives. It is not a static thing. There really is no it’s completed so now I don’t have to worry about it faze when it comes to estate planning. The reason for this is because our lives are constantly changing. Additionally the lives of those that we interact with, and that we love which include our family and friends are also always changing. When changes occur, our Estate Planning may be affected and we may need to change our Estate Planning to meet and deal with each new change. So what are the major changes that would cause us to update our Estate Planning. Here are the top 8:

THE BIRTH OR ADOPTION OF A LOVED ONE

Employers Have to Report Industrial Accidents

Published on: January 27, 2017 | by Racine Olson

By Fred J. Lewis

Idaho Code §72-602 requires that employers complete and file a first report of injury form no later than ten days from the date of the injury. It is actually a criminal act for your employer to refuse to file this form. However, before your employer is required to file the form, you obviously have to tell them about the accident. Under Idaho Code §72-701, you only have 60 days from the date of the accident or manifestation of the occupational disease to tell your employer about your injury. In Petry v. Spalding Drywall, the injured employee waited 18 months after the accident. Since the employer could not read the mind of the employee and know that he was hurt, they of course did not file the first report of injury. The claimant was denied benefits since it had been more than 1 year from the date of the accident until he told his employer about the accident and injury.

Idaho Code §72-702 states that the injured employee does not have to give actual written notice of their accident or injury. Under Idaho law it is okay if you just orally tell your employer that you had an accident and that you were injured.

Are Non-compete Agreements in Idaho Enforceable?

Published on: January 25, 2017 | by Racine Olson

By Joseph G. Ballstaedt

Usually a non-compete agreement refers to a contract between an employer and an employee whereby the employee agrees not to engage in a trade or profession that competes with the employer’s business. Sometimes these agreements are called “non-compete clauses,” “covenants not to compete,” or “restrictive covenants.” They generally extend beyond the term of the employment relationship. For example, a hospital may want a doctor to sign a non-compete agreement prohibiting an employee doctor from practicing medicine within 50 miles of the hospital for a year after employment. This agreement would protect the hospital’s business since the doctor couldn’t quit, start up a private practice in the same area, and steal patients from the hospital—at least not without breaking the non-compete agreement and risking being sued in court.

Although almost every state, including Idaho, allows non-compete agreements, a few do not. There are good policy reasons behind allowing non-compete agreements, including allowing parties the freedom to contract, protecting legitimate business interests, and incentivizing employers to provide expensive on-the-job training. On the other hand, others argue non-competes hurt the economy because they stifle worker mobility and the spread of ideas. Also, some claim non-competes create unemployment because people are prohibited from using their professional skills. Low-skilled employees such as fast-food workers seem to be especially harmed by non-competes.

3 Tips for Starting the New Year Off Right with Your Estate Planning

Published on: January 25, 2017 | by Racine Olson

By Lane V. Erickson, Attorney

New Year is upon us and with it comes an opportunity for us to change and improve our lives. I have a number of clients who tell me that part of their New Year’s resolutions is to either complete or update their Estate Planning. I am a firm believer that everybody should complete their Estate Planning. Here are 3 tips that can help you complete your Estate Planning for the new year.

GET AN ESTATE PLANNING QUESTIONNAIRE