Eldergreen
What’s the Difference: Durable Power of Attorney vs. General Power of Attorney
Think for a moment about how many decisions you make daily. Sometimes we need help making those decisions. A general power of attorney provides a trusted friend, family member or professional with the authority to make those decisions on your behalf. However, a general power of attorney only operates while you are still coherent and mentally capable. It automatically expires upon incapacity or death. A durable power of attorney remains operational upon incapacity, although it expires upon death. Additionally, a durable power of attorney is needed to maintain your finances, home, and business while medically incapacitated, or when experiencing …
How to Avoid Probate in Idaho
The process of estate planning is not only about managing your property and assets. A big part of estate planning includes preparing for worst-case scenarios by creating plans to avoid unnecessary costs or losses and to protect yourself or your loved ones. The right estate planning can help you maximize your legacy and take advantage of best-case scenarios. Making sure that you avoid probate is a good place to start.
For many, the prospect of probate — the legal process of recognizing a will and appointing an executor to administer the estate — can cause anxiety as court proceedings can be …
Everything You Need to Know About Wills and Trusts in Idaho
Most people religiously pay bills bank, file income taxes, and schedule appointments– all tasks that come with being a responsible adult. However, one task that many people tend to put off is setting up an estate plan to manage their affairs during possible incapacity one after.
Despite good intentions to formalize a plan, many people in Idaho die intestate — that is, without a will or estate plan. In these cases, the court decides who will inherit the assets that remain after debts are settled. At a minimum, everyone should have a will with instructions for the division of property.
In addition …
How Can I Avoid Paying Estate/Inheritance Taxes When I’m Gone?
Proper estate planning will allow you to reduce or eliminate the amount of estate taxes you pay upon your death and how much your heirs will inherit.
Estate planning is an important process that defines your assets and offers tools and customized strategies to best fit your situation and lifetime goals. During your career and after, accumulating wealth is important to provide for your family, pay for living expenses, education, and so much more.
In addition to safe-guarding and growing your wealth, estate planning is also designed to help you avoid taxes.
While tax evasion is illegal, tax avoidance is a common legal …
Idaho Wills and Trusts: What’s the Difference?
Having an estate plan is essential, regardless of age or wealth. An effective estate plan often includes a will, a trust, or both. Other legal documents and directives may also be necessary.
Understanding the difference between wills and trusts, and the different types of wills and trusts, is important. The better your understanding of these different types of legal documents, the better prepared you will be to make the right decisions to protect yourself and your family in the event you are incapacitated or die.
While estate planning may seem complex, an experienced Northern Idaho wills and trusts lawyer can advise …
Power of Attorney in Washington State: What You Need to Know
Deciding to set up an estate plan can be difficult, however, peace of mind can be priceless. An Estate planning package can include a will & trust that appoints guardians for your children, estate administrators, charitable giving, and asset protection. Making these important decisions if often less onerous when you work with skilled and compassionate elder law lawyers who understand the emotional complexity inherent to these decisions and the applicable Washington State laws.
We all face uncertainty; it’s the nature of living. However, the Covid-19 pandemic and its impact on family and financial security has illuminated the urgent need to consider estate …
Everything You Need to Know About Estate Planning in Idaho
Death, while inevitable, is not something most people enjoy thinking about. That is why so many people avoid creating an estate plan. But ignoring the reality of life and death does not make either go away – it just complicates matters.
Regardless of one’s current age or health status, an estate plan is necessary for any person who has dependents, owns property, has savings or investments, or owns a business. A well-crafted estate plan protects your heirs and loved ones in the event of a crisis or death. It can also protect your legacy to ensure that your wishes are followed …
Total Guide to Estate Planning in Washington State
America’s nickname is The Land of Opportunity, a place where anyone, regardless of their background, can achieve their goals, including amassing material wealth – money, real estate, personal property and any other assets. But what happens to those assets – your estate – when you pass away?
Talking about this topic can be difficult, but important. However, in order to protect your legacy and make sure your wishes are fulfilled, planning what happens after you’re gone is crucial.
What does “Estate Planning” mean?
Estate planning is establishing a formal, legal plan in the event of a …
5 (Costly) Medicaid Mistakes and How to Avoid Them
According to the U.S. Department of Health and Human Services, “Someone turning age 65 today has almost a 70 percent chance of needing some type of long-term care services and supports in their remaining years.”
The Medicaid program, although challenging to navigate, can provide some relief for seniors and their families when in need of long-term care. Unlike Medicare (which does not cover long-term care), Medicaid is a means-tested program. In other words, you can only possess a small amount of money or property, have a low income, or both qualify. Seniors often wish to preserve their money out of …
Who Qualifies for VA Survivor Benefits in Eastern Washington & Northern Idaho
What is the Veteran’s Aid and Attendance Pension Benefit?
In a recent discussion with a client, the subject of ‘Aid and Attendance Pension Benefit’ came up. When I asked my client, who is a military veteran, if he was taking advantage of this benefit his response was that he never heard of it.
Once again it got me wondering how many other veterans have “never heard of it”. Turns out there may be millions of our veterans that don’t take advantage of the benefits they are entitled to. This also means their surviving spouses aren’t receiving
the va survivor either.
So what is it? …
