David Posey, Attorney at Law, offers full service for your estate planning including the preparation of wills and trusts and the probate of estates. Fees for a simple will are $75.00 for a single will and $125.00 for wills for both a husband and wife.
Attorney fees for uncontested estates are $500.00 for a Summary Administration between husband and wife; $750.00 for an Informal Probate when there is a will; and $1,500.00 for a probate when there is no will. Contested matters are charged at $150.00 an hour.
If you want more information on wills, trusts or probates, call 642-9339 to set an appointment for a free consultation with David Posey, Attorney at Law.
See below for answers to frequently asked questions.
A will is a written document which provides for the disposition of a person's property following death. A person writing a will is directing how he or she wishes property to be divided following death. A will is intended to provide a complete disposal of all property that is owned by a person. A will is not effective until a person dies and it is probated. Therefore, a person can change a will as often as desired. However, there are certain statutory requirements which must be met to have a valid will. The will must be witnessed by two persons or have all its important provisions in the handwriting of the person making the will. A will can be amended by what is known as a codicil, but any such amendment must meet the same requirements of the statute for the execution of the original will. A person can not change a will once it has been signed and properly executed simply by writing those changes on the will. Changes must me made either by preparing a new will which is again properly signed and witnessed, or by preparing a properly signed and witnessed codicil. A person who attempts to change a will by writing the changes on the will or deleting portions of the will, without proper amendment by codicil, may void the will.
If you wish to make a will or want more information on preparing a will, call 642-9339 to set an appointment for a free consultation with David Posey, Attorney at Law.
A "living will" is a totally different document than a testamentary will. A living will is a set of instructions prepared by a person which is intended to be given to family members and the person's physician. The purpose of the living will is to inform these persons as to what medical care and treatment is to be furnished to the person signing the living will in the event that he or she becomes incapacitated and can no longer make these decisions personally. For example, the living will may direct family members and the physician to withhold certain types of medical treatment designed to prolong life, if it appears that the person is suffering from an incurable terminal illness. The living will may also contain instructions that the person not be resuscitated if there is likelihood that he or she will have lost cognitive abilities or function as a result of an injury or illness. The living will is really not a will in the traditional sense, since it deals with medical instructions, and has nothing to do with the disposition of property. However, it is an important document which many people now include as part of their overall health care planning.
If you wish to have a living will or want more information, call 642-9339 to set an appointment for a free consultation with David Posey, Attorney at Law.
For free forms for a living will for Idaho residents and the accompanying Durable Power of Attorney for Health Care, visit www.freeidahoforms.com.
Having a will prepared is often a very difficult decision, since it requires a person to think about his or her own eventual death. However, every person has a will whether they know it or not. The state law known as "intestate succession" provides for the disposition of property for any person who dies without a will. Most people do not even know what the law provides as to the disposition of property. By consulting an attorney, an individual or family can determine how their property would be disposed of by intestate succession, and if not satisfied with that statutory property division, can with the assistance of an attorney prepare an appropriate will which properly carries out the intent of the person or family concerning disposition of property upon death.
If you wish to make a will or want more information on preparing a will, call 642-9339 to set an appointment for a free consultation with David Posey, Attorney at Law.
Probate is a court procedure which determines and carries out the wishes of a person concerning the disposition of his or her property after they die. A will is not self executing and has no effect until it is probated. This is done by the appointment of a personal representative (sometimes called and executor) by the court who then becomes the deceased's agent here on earth to carry out his or her wishes and the requirements under the law. The duties of the personal representative include the collection and protection of the assets of the estate, the payment of the debts and the distribution of the remaining assets to the heirs. Idaho has adopted modern probate laws called the Uniform Probate Code which minimizes the involvement of the courts and thus keeps the costs to a minimum.
If you want more information on probate, call 642-9339 to set an appointment for a free consultation with David Posey, Attorney at Law.
A number of years ago, a book entitled "How to Avoid Probate" was written which suggested alternative methods of disposing of property other than through a will. These methods include trusts, life estates, joint tenancy and the life-time transfer of assets. As a general rule these methods should not be used unless there is some other valid reason for doing so other than to avoid probate. It is true that for a will to transfer property to the intended beneficiaries, a court proceeding known as "probate" must be filed. Recalling that a will is not effective until after a person's death, one of the purposes of a probate proceeding is to put a person's last will and testament into effect. Furthermore, if there is more than one will, the purpose of the probate proceeding is to determine which is the correct will in order to properly carry out the wishes of the deceased person. Probate proceedings also ensure that any title to real estate is properly transferred to the recipients named in the will. The book, How to Avoid Probate, works to create a certain amount of fear that probate proceedings are costly and time consuming, and that all of the person's property ends up in the hands of attorneys or the tax collector, or both. While the book was undoubtedly well intentioned, some people (who may not have even read the book) have gone to great lengths to pass property to their relatives or intended beneficiaries prior to death. Often times, this is done without due consideration of all the possible consequences of such transfers, including the possible loss of the assets and adverse tax consequences. There are in some cases valid reasons to transfer property in a manner that avoids probate. Contrary to popular belief, probate in Idaho is not expensive (if you hire the right attorney) and probate does not tie-up the assets of the estate for long periods of time.
If you wish to find out if avoiding probate is a reasonable thing for you to do, call 642-9339 to set an appointment for a free consultation with David Posey, Attorney at Law.