A will is one of the most important things you can do for your family. A will can legally protect your spouse, children, assets and spell out how you would like things handled after you have passed on. A will permits you to direct who will receive the property you worked so hard to obtain and raise the minor children that you cherish. A will also permits you to pick who will be the personal representative (executor) of your estate. Personal representatives pay your last bills, cancel credit cards, notify banks and other businesses, file your last tax return, liquidate and ultimately distribute your assets, settle claims with creditors and play the biggest role in the administration of your estate. Because these responsibilities are so important, you should pick someone who is honest, trustworthy and organized. Without a will, your property will be distributed by the court and may end up with a relative or former spouse you would have otherwise disinherited.
If you are in a second marriage and have children from the first marriage you want to inherit your property, there are additional reasons you should have a will. In a second marriage, spouses bring property to the marriage that is their separate property and want to leave to their children rather than their second spouse. I can discuss the goals you have for your estate and then draft a will that will meet them based on the current state of the law.
Living Will and Durable Power of Attorney for Healthcare
A living will permits you to direct what healthcare you are to receive if you cannot make decisions for yourself due to illness or incapacity. The living will, executed by you, specifies what treatment is permitted and what you direct shall not be permitted. In the Durable Power of Attorney for Healthcare, you designate a healthcare agent who has the full power and authority to make health care decisions for you consistent with your living will. I will draft and help you obtain a living will at the same time you execute your will.
Idaho Statutory Power of Attorney
An Idaho Statutory Power of Attorney allows you to designate another person to have legal authority make decisions about your property, including your money, even when you can make decisions for yourself. You should only designate someone you trust. This person is not authorized to make health care decisions for you and their authority continues until you die. If you become incapacitated, your agent can continue to make financial decisions in accordance with your power of attorney. I will draft and have you sign an Idaho Statutory Power of Attorney at the same time you execute your will.