Phone: (208)765-3595 | FAX: (208)765-0515

NEWSLETTER || News & Events

July 2019

COYLE & WYTYCHAK

ELDER LAW NEWS

 

July 2019, Volume 2, Issue 19

 

WHAT IS GOING ON?

PARKING UPDATE- There are now tenants in the long- abandoned property to the East of us on Garden, and

they have asked us to request that our clients not park in that parking lot. We have plenty of street parking and

you can always use our driveway as long as it is not already occupied.

We will be closed on Thursday, July 4, 2019 for Independence Day.

Understanding Alzheimer’s and Dementia, an education program by the Alzheimer’s Association, will be on

Thursday, July 25, 2019 from 2 to 4 pm at the Rathdrum Senior Center. Call (800) 272-3900 for a reservation!

SAVE THE DATE! The North Idaho Walk to End Alzheimer’s is on Saturday, September 28, 2019 at Riverstone

Park in Coeur d’ Alene.

We now accept credit cards through our website, www.CWELP.com! Click on the “Payments” tab on the home

page to be directed to the LawPay website.

Check out Coyle and Wytychak Elder Law on Facebook! “Like” us to stay informed and hear about events in the

senior community. Search for Coyle & Wytychak Elder Law. Share our page with your friends and family so

they can also take advantage of the informative articles and information!

“If you want others to be happy, practice compassion. If you want to be happy,

 

practice compassion.”

- Dalai Lama

DO I REALLY NEED THAT? - BY KATE COYLE

We hear it all the time. “Do I really need a Will?” “Won’t my kids just be able to take care of things?” “Can’t I just tell the

bank what I want?” The truth is, a handshake and a smile used to be enough for doctors, hospitals, banks, etc… to allow

someone to be able to speak on another’s behalf or manage another’s property and accounts. However, times have

changed. Increasingly, institutions are requiring that certain documents be in effect before speaking to anyone other than

the client/ patient, regardless of their relationship. I have put together a guide of the different types of documents that

exist in Idaho, and why, yes, you do need to have an estate plan in place to ensure that your wishes are fulfilled in the

event of illness or death.

Powers of Attorney for Health Care- This document nominates someone (called an Attorney in Fact) to make health care

and living situation decisions if you cannot make or communicate your own decisions. It also includes a document called

the “Living Will” which directs how you want to be treated in an end of life situation. You can separately fill out a POST

(Physician’s Orders on Scope of Treatment) form with your physician, which is comparable to a do not resuscitate order.

 

Powers of Attorney for Finances- This document nominates someone (called an Attorney in Fact) to make financial,

business, and monetary decisions for you. These can be effective immediately or only effective when a doctor says that you

can no longer make reasonable decisions regarding your finances.

Will- Anyone over the age of 18 can make a will. If you are worried about where your property will go when you pass away,

a will can resolve doubt for you and your beneficiaries. Wills allow you to: choose friends and relatives you want your

property to go to, make charitable bequests, choose a trusted and responsible person to be your personal representative,

name a guardian for minor children or incapacitated adults, and take advantage of tax savings which may result from a

properly drawn will.

What is Probate, and do I need it?- Even if you have a Will, Probate may still be required. Probate is the court procedure

for transferring title of a deceased person’s property to the proper survivors. If there is a valid will, the estate still needs to

be probated if the estate owns real estate (to satisfy title companies) or if the probate estate is greater than $100,000.00.

Trusts- Trusts are legal entities which own property in the name of the Trust, as opposed to someone owning property in

their individual name. Trusts, when properly created and funded, can avoid the probate process because a Trust will

appoint a person to be in charge of administering the trust estate called a “Trustee.” Instead of having to go to court to

have a person appointed by a judge to be in charge through the Probate process, the Trustee is already in a position of

authority to begin administering assets.

Community Property Agreements- Married couples can record a document called a Community Property Agreement

directing the transfer of marital assets upon the death of one spouse. This transfers property to the surviving spouse

outside the Probate process.

Once these documents have been prepared, it is also important to review any documents that you have executed every few

years to make sure that they still reflect your wishes, and that no changes need to be made. The better the shape your

estate plan is in, the easier things will go for your family in the future. The bottom line is, if you want to ensure that your

wishes are carried out, put them on paper in one or more of the above documents! One of our accomplished attorneys can

assist you and your family in reviewing the options and getting you a customized estate plan that suits your needs.

CONTACT US

314 E Garden
Coeur d'Alene, Idaho 83816

Tel:(208)765-3595
Fax:(208)765-0515

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