One of the difficulties in running a business is figuring out which types of laws and regulations apply. Figuring out the intricacies of federal and state law is difficult enough. Then, depending on where your business is located, you also need to consider local ordinances and regulations such as the county or city code. This complexity can sometimes lead to a bury your head in the sand approach where it is hoped that ignorance of the law will be a defense if something goes wrong. However, that is not the case. It is assumed that business owners are aware of and understand the laws that are applicable to their businesses.
A question I regularly hear regarding all types of estate planning documents is “how often should this be updated?” The answer depends, of course, on the individual circumstances. However, there are some general guidelines that can be helpful. Two questions to think about regarding updating your legal documents include – have there been any major life events since the documents were last updated, and have you looked through the documents in the past 2 years?
Many of our clients in North Idaho and Eastern Washington are “snowbirds”. I know some clients are even headed south early this year to escape the smoky air we’ve endured lately. If you are headed somewhere warm to spend the winter months, you will want to be sure you have packed more than just your sunscreen.
If you are an adult in Idaho and become unable to make your own decisions in life due to injury, illness, or some other form of incapacity, there are two basic ways in which another person becomes the stand-in decision maker for you. The first way is through the use of a previously written and signed Power of Attorney Document in which you will have stated who it is that should make your decisions for you if you cannot do so. That stand-in decision maker is called your “Agent” or your “Attorney in Fact.” However, if you have not previously completed valid Power of Attorney documents, a judge will need to appoint someone to become your decision maker through a court process known as Guardianship and Conservatorship. If a judge has to appoint your stand-in decision maker, that person will be called your “guardian” and/or “conservator.”