Eich Law Office

Eich Law Office Attorneys and Counselors at Law

06/29/2023

Healthcare Directives for Young Adults

Estate planning and healthcare directives are not just for “older” adults. Young people have accidents and healthcare issues. If your young adult were to pass away, South Dakota law has his or her personal property being distributed to his or her parents so this aspect so it is not necessary that young adults have a will drafted, directing where their assets are distributed at the time of their death. SD laws also state that if a person passes away and does not own any real estate and has less than $100,000 worth of personal property and non-transfer on death assets/accounts, an affidavit of small estate can be completed and signed by the next of kin. This allows the payment of bills and also the residue of one’s estate to pass to his or her heirs. A full probate does not need to take place.
An area that people oftentimes do not think about or prefer to not think about is what if your young adult becomes ill and is not able to make his or her financial or healthcare decisions. We all hope and pray it does not happen but you can prepare for a situation such as this by having a durable power of attorney drafted and signed. In the event he or she is not able to make his or her healthcare or financial decisions, someone would already have been named to act on his/her behalf, with specific instructions as to what he/she would want done with specific medical situations. For instance, if there is a motor vehicle accident and the person is on life support or being tube-fed. If the loved one becomes more ill and decisions need to be made about organ, tissue, and eye donations. Do you know what your family members, no matter the age, would want to have done? Would he/she want to be a donor?
It is recommended that everyone over the age of 18 has a healthcare directive and financial power of attorney that would take effect upon a doctor or judge making the determination that he/she is not able to act. The agent that would have been named would then step in and make the decisions. When the document is drafted, the individual selects what he/she would want done in the event that he/she is unable to make medical decisions. It makes the situation a lot easier when the agent knows what the incapable one would want done. They review the healthcare directive and apply the situation to the document to make an informed decision and one based upon what the incapable person would want done.
Oftentimes, people assume that the medical facility would simply allow the next to kin to act, which may be the case in some instances. With this being said, there are restrictions under SD laws that limit when someone is being fed via a tube as to when that can be removed. No one really wants themselves or another loved one to be in a coma fed with a tube for years. Most want a quality of life for him/herself but you have to properly plan for it and must have the necessary documents in place in the event that they are needed.
Life doesn’t always go as we plan. We need to be ready for most situations in life. A durable power of attorney for health care and a durable power of attorney for financial decisions can be combined to encompass the guidelines for a person’s agent or attorney in fact to follow for both aspects. If you have any questions or are interested in having estate planning documents drafted, call Eich Law Office at: (605) 528-3000.

06/21/2023

ESTATE PLANNING 101

A large part of our practice at Eich Law Office is assisting clients with their estate planning, which includes the drafting of Wills, Durable Power of Attorneys, and Trusts. There are numerous options when it comes to estate planning and it is not a “one size fits all” area of law. Each client and his or her estate planning is unique to him or her. Some prefer simple estate plans and others more complex ones. The typical process for estate planning consists of a meeting to discuss estate planning options, and make decisions regarding the various options for estate planning, including, but not limited to, who the client would like to appoint as the personal representative of his or her estate, who the client would like to name as the attorney in fact for medical and/or financial purposes, and if entering into a Trust is the best option for him or her. The decided upon documents are then drafted and sent to the client to review. The client then contacts our office to discuss any changes that need to be made. Once the documents meet the client’s approval, he or she schedules a time to meet to review and sign them and the estate planning is concluded.

It is recommended that a person reviews his or her estate planning documents every three to five years to ensure that there are no updates that need to be made. If you have not done so lately, please review your estate planning documents. If there are changes that need to be made, please contact our office to schedule a time to go over them and make the necessary changes. Remember that transfer on death accounts or accounts with beneficiary designations are distributed outside of your will or trust so it is important that they are kept up to date. If you do not have your estate planning affairs in order and are wanting to do so, please contact us to schedule the initial meeting to discuss them and any questions that you may have. We realize that many clients find estate planning a difficult subject to think about, which is why we strive to make the process as smooth as possible so that clients can leave our office feeling a sense of relief knowing that their decisions have been made and with the proper documents in place. Our office number is: (605) 528-3000.

03/24/2023

HEALTHCARE DIRECTIVE / DURABLE POWER OF ATTORNEY

While someone is alive but not able to make his or her decisions in regards to healthcare or financial purposes, an agent needs to be appointed to make these important decisions. If you plan ahead, you would have already made the decision as to who will handle your matters. If you have not done so, a court can appoint someone one your behalf to act. A durable power of attorney can be drafted and signed while the person is, in fact, competent and capable of making decisions. If a DPA is not drafted and used, the other route is to take the matter before a circuit court judge to have him/her decide who you would likely want handle your medical and financial decisions. This route can be stressful to your family members and friends and can result in someone making your decisions that you would not want to be in charge. If you specifically designate someone that you would want to make those decisions while you are competent and capable, those decisions will carry over to when you are not capable or competent to decide. You would have already named someone that you feel to be best suited to make those important decisions for you.

First, you need to name someone to act. The person that you name can be a spouse, sibling, child, or friend to serve as your agent. You should consider where the person lives and whether this person could be present when decisions need to be made for you. You should also consider naming a second and possibly third person to act as an agent if your first choice is unavailable or is unwilling to make decisions on your behalf.

Second, what should I tell the person I have selected? You should ask if he or she is willing to accept the responsibility of being your agent. If the person you have selected accepts that responsibility, then discuss the various kinds of health care and financial decisions that may have to be made in your future and what your wishes are.

Third, can my agent make a decision against my wishes or proper medical practice? Quite simply, no they cannot. The agent must follow your wishes and must consider your physician’s recommendations regarding health care. A decision by your agent must be within the range of accepted medical practice. Regarding finances, the agent needs to be very careful as to what the money is spent on and what income is earned. There is some discretion, however, with the decisions that can be made so make sure that you name someone that knows you and is able to make the decisions for you.

Eich Law Office (605) 528-3000

01/12/2023

Retirement accounts are investments that you establish and contribute to during your lifetime and, when you pass, the account will be distributed to your beneficiaries. It will not go through your estate unless you have your estate as the beneficiary. Always ensure that you review your primary and contingent beneficiary designations every few years so that they are up to date. If your primary beneficiary fails to survive you, the account will be distributed to the contingent (secondary) beneficiary. Verify with your agent that if one of your children predecease you as to whether that child's share will be distributed to the child's children (by right of representation/per stirpes) or what will happen to the investment.
It is best to not have a children's trust or grantor/living trust as the beneficiary of retirement accounts as there could be negative tax ramifications, with the account being taxed at the time of your death. If you have a living person/people as the beneficiaries, the beneficiaries may roll your retirement account into their existing account or they may open a new account. They have the ability to keep the investment growing until they reach the applicable triggering age for retirement. Depending on how the account is established, taxes may not be imposed until the beneficiary/child reaches the applicable age and takes the distributions.

Eich Law Office / (605) 528-3000

12/29/2022

Basic Estate Planning. There are so many incorrect pieces of information on the internet and social media. Please be informed as to the 100% accurate information pieces and what can happen if you don’t plan ahead. Each state has its own laws so it is very important to talk with an attorney in your state to become fully informed of your options and what is best for you. This is intended to provide FACTUAL information on basic estate planning from a licensed attorney.

💰Bank Accounts. It is, typically, best to have you be the only owner on bank accounts. If you have someone else as a joint owner or a pay on death (POD)/transfer on death (TOD), that person has full access to the money while you are alive but that person's spouse is entitled to an equitable division of it if they become divorced. Creditors are also able to seize your account. If the money has a POD designation, that money will not be used to pay for your final utility bills, medical bills, funeral expenses, credit cards or any other debt as it will go to the designated person, no strings attached. By doing so, your assets may have to be sold to cover your utilities and other expenses when you pass. You may think you are making things easier but, typically, you are making things worse if you don't leave other options available.

🏡 Ownership of real estate. If you have a life estate/remaindermen interest in it, the real estate will transfer to the remaindermen via a sworn affidavit and certified copy of the death certificate after you have passed away. If you want to sell the real estate during your lifetime, the child/remaindermen will have to agree to the sale and sign all real estate transfer documents. A transfer on death will avoid the real estate going through probate but know all of the risks before going this route and discover whether it is best for you.

👨‍👩‍👧‍👦Healthcare Directive/Durable Power of Attorney/Living Will: While you are competent and capable to make your decisions, you designate an agent to act and make medical decisions for you in the event that you ever become incompetent or incapable to act for yourself. You define what authority your agent has and what your preferences are on life-sustaining devices/life support/tube-fed, etc. In order for the springing document to take effect, typically, you need to be evaluated by your last attending physician and a sworn statement completed. As soon as the affidavit is signed, your agent has power to make your healthcare decisions. Your agent can have power within hours of the appointment to act on your behalf. Medical providers prefer to have copies of the healthcare directive in your medical records.

$ Financial Power of Attorney: While you are competent and capable to make your decisions, you designate an agent to act and make financial decisions for you in the event that you ever become incompetent or incapable to act. You define what authority your agent has and what he/she can do with finances. In order for the springing document to take effect, typically, you need to be evaluated by your last attending physician and a sworn statement completed. As soon as the affidavit is signed, your agent has power to make your financial decisions. Your agent can have power within hours of the appointment. This is a much better route than having your children on your bank accounts. It greatly reduces risks.

🛍Last Will and Testament: Legal instrument that states who your personal representative (executor/executrix) is and where your personal property and real property are distributed at the time of your death. If you do not have any real estate when you pass (or it is set up for a TOD) and if your personal property (accounts, assets, all non-beneficiary/non TOD accounts) totaled together is less than $100,000, you can have an affidavit of small estate drafted by an attorney and the Administrator has the authority to manage your small estate, sell items, pay your bills, and distribute the net amount pursuant to the directions in your Will. It can be as simple or complex as you make it to be.

📝Trust: a legal instrument that fully avoids probate, avoids publication, not open to the full public at the courthouse, and can distribute your assets after your passing in a must faster time-frame. You can also spread out distributions over years or for triggering ages to your children and grandchildren. If you need to protect your assets, such as a family farm, from being sold, a trust can restrict the selling of the assets for a number of years and, when it is sold, the mechanism used and also as to who has the first right to purchase the same. If you have a loved one that is not making great life choices, you can restrict when they receive distributions from your Trust.

👩🏽‍⚖️ Beneficiaries. Retirement accounts and life insurance policies typically have beneficiary designations. Make sure that you have primary beneficiary designations but also contingent/secondary designations in the event that the primary beneficiary predeceases you. When you pass, the beneficiary will need to complete documentation to receive the money. This money will go directly to the beneficiary and will not go through your estate. There is no legal requirement for the beneficiary to use any of the money to pay for your funeral, debts, or any expenses at the time of your passing. Talk with and listen to the advice of your financial planner. They have a lot of knowledge and can plan for what is best for you.

📚 Be organized. Make a listing of all of your assets, make copies of bank statements, life insurance policies, retirement accounts, investments, deeds, and other important documents. Keep them together and let your family/friends know where the list and items are located so that they can manage your estate when you pass. They can more readily contact your representatives, agents, and banks.

Misconception/misunderstanding: attorneys are all expensive and don’t care. Attorneys have a substantial amount of knowledge (they do have doctorate degrees) and can direct you, oftentimes, in a one hour appointment while you are alive and ensure that you understand the different options that you have and help you decide what is best for you. Also, meeting with an attorney after a loved one passes can save a lot of turmoil, unknowns, guessing, and incorrect actions. An attorney can explain what needs to be done and can direct you in compliance with your state laws. It can be made simple and relatively inexpensive. You may think you are saving money by using the internet or someone that thinks they have all of the answers but no legal training rather than a licensed, trained person for legal advice but there could be major detrimental effects by doing so. There is also major liability by not doing what needs to be properly done after someone passes. Do you go to the internet or friends when you have a medical problem or do you see a medical provider with a doctorate that is trained and licensed to diagnose and assist?

Misconception/misunderstanding: It is a requirement to publish notice to creditors and it delays the distribution process for months. Some believe that anyone can come after the estate - wrong. Reality: In many cases, notice to creditors is not necessary and there are many times that creditors don’t need to be formally notified of someone’s death. The notice to creditors is completed to reduce the amount of time that unknown creditors can make a claim against the estate. There are corners that can be cut but obtain the information from someone that is licensed and trained to provide you with what is best for you and your loved ones.

Robin M. Eich, Attorney and Counselor at Law
Eich Law Office, Prof. LLC
(605) 528-3000

12/22/2022

Durable Powers of Attorney. In the event that you become unable to make your healthcare or financial decisions, you can either have a written directive already in place or your family/friends will need to take the matter before a circuit court judge to have someone appointed for you. It may or may not be the same person that you would have chosen. If you indicate your feelings on medical care and healthcare measures in a written document while you are competent and capable to make those decisions, your family and friends must follow them. What about your adult children, even if they are only 18? What if they were involved in a situation wherein they are not able to make their own medical decisions, such as a car accident? Do they have a healthcare directive in place? Is it your intent or your adult child's to be on life support for an extended period of time? What about artificial nutrition? Do you want to be tube-fed for an extended period of time if there is little brain activity? If not, you have to put your wishes in writing or typical state laws have a lot of restrictions on removing the tube. Do you want to be an organ, tissue and eye donor? If so, have it on more than your driver's license. Being informed and ensuring that you have clearly set forth your wishes and desires and guiding your adult children to do so are important. No one wants to find themselves in the position of making medical decisions for loved ones, especially our grown children, but it could become a reality. Ensuring that people know of your wishes and preferences can reduce the stress and guilt on your family. They review the healthcare directive and work with the medical team to follow through with the wishes that you had already set forth in the written document.
For financial decisions, it is best if you have a springing power of attorney so that if a medical provider deems that you are no longer able to make your decisions, your agent can start managing them. Some add their children's names to their checking accounts but recognize that your children's creditors and potential ex-spouses also have the ability to take your finances into consideration in a divorce proceeding and creditors could seize your bank account.
No matter what your choices are, be informed and ensure that you have the proper documents in place so that your choices will be followed through on. Assist your adult children, whether they are 18, 40 or older. Local medical providers have forms that can be filled out or you can seek the advice of an attorney.
~ Eich Law Office, Prof. LLC
(605) 528-3000

12/15/2022

WILLS

We know we are all going to die at some point in time. It is best to have your specific wishes set forth while you are able to make the decisions. You can also choose who is in charge of making sure that all of your bills and debts are taken care of, with the net amount distributed to those that you want to have receive your assets. You can also make specific bequests to family members or nonprofit organizations. A will is in effect until it is amended. You may do that as often as you wish and we advise our clients to review their will every three to five years to ensure whether updates need to be made. Family members and friends have peace between them when a decedent’s specific instructions are set forth in writing and assets are more clearly distributed to the heirs that you desire them to be distributed to.

If you have any questions or are interested in having estate planning documents drafted, please call (605) 528-3000. Robin M. Eich

12/05/2022

RAISING A CHILD WITH THE OTHER PARENT

Not still in a relationship with the other parent and trying to raise a child or children together? Struggles can ensue so you may need a neutral, trained third person to assist. Attorney Robin M. Eich, of Eich Law Office, Prof. LLC, is a trained Parenting Coordinator (PC). PCs assist parents with issues or parenting discrepancies that arise. While parents are encouraged to work towards a resolution in regards to a scheduling issue of the parents or an issue that arose, a PC can help parents bring resolution to the issues that arise. PCs can bring a faster resolution to an issue or issues and through a much cheaper mechanism. Attorney Eich has practiced family law for over 20 years and has been able to see that there are better solutions than taking each issue before a Judge.

Parenting Coordinators are impartial people who facilitate a resolution of the issues. They are not judges and will not decide the case but oftentimes have many years of experience in the family law setting. PCs have shown that they can resolve issues and be a reasonable route to a solution. If you or a family member or friend have issues that need to be resolved, call Robin M. Eich at (605) 528-3000.

03/09/2020

PARENTING DIFFERENCES OR CLARIFICATIONS

If you are having issues on parenting with the other parent, you do not need to automatically take the matter to court. There are alternative options available. A parenting coordinator can assist both parents in regards to working through the issues that have arisen, whether it be a schedule, activities, or other aspects that come with parenting. You and the other parent meet with someone that is trained in this area and that person assists in regards to working through the issues. If the Court orders it, the parenting coordinator has authority to make decisions. The goal remains for the parents, themselves, to talk through the areas that are in dispute or need clarification and reach an agreement on the various issues that have arisen.

While the parties are expected to work toward a settlement, they’re not compelled to settle. Parenting Coordinators are used as an attempt to resolve issues without the intervention of the Court, but the parties also have the right to have a judge decide their case. One important role of the Parenting Coordinator is to try to facilitate a resolution with the parties, or if the Parenting Coordinator deems facilitation not possible, then she decides the matters and advises the parents of the decision in writing. The Parenting Coordinator has a duty to ensure the parties have considered the best interests of any affected child. If the Parenting Coordinator believes that any proposed agreement does not protect the best interests of the child or children, it’s the Parenting Coordinator’s duty to inform the parties and explain the basis for that belief. The Parenting Coordinator has the duty and responsibility to assist the parties in resolving all child-related issues submitted for resolution, except for those issues specifically excluded by order of the Court.

If you would like additional information for assistance with a parenting coordinator, contact Eich Law Office at (605) 528-3000.

03/05/2020

Should I…How do I start a divorce action?
Eich Law Office is not a promoter of divorces in every situation but can assist you if you find yourself in a situation wherein divorce is the best option for you. The various options other than a divorce can also be discussed. A meeting will take place with an attorney and the process will be explained to you. The attorney will then prepare a summons and complaint, which must be served upon your spouse in order to start the divorce action. The complaint simply asks the court to grant a divorce and states your grounds. The complaint also states what you want the court to do about such matters as child custody, child support and visitation, alimony and division of property and debts of the marriage.
The summons demands that your spouse answer the complaint within thirty (30) days or a default judgment may be entered against him or her after sixty (60) days. There is also a temporary restraining order that remains in effect during the pendency of the divorce so that assets cannot be sold or transferred. There are also restrictions if you have children with your spouse.
If you are in need of an attorney to go over your options in a very confidential setting, please contact Eich Law Office at (605) 528-3000.

02/27/2020

At Eich Law Office, Prof, LLC, we often compassionately work with those grieving the loss of loved ones. We understand first hand that grieving the loss mixed with the tasks that need to be completed once a loved one has passed can quickly become overwhelming. In order to better prepare your loved ones for your passing, it is a great idea to have a Checklist after Death prepared. This will help your family and friends understand the actions they need to take for your situation and ease some their stress.

Here is a checklist of actions they may need to take depending on your specific situation:

1. Contact an attorney to review the will and to see what actions regarding the estate settlement benefits could be payable.

2. Contact the Social Security Administration. Depending on the circumstances, Social Security benefits could be payable.
Veteran benefits may be available if the deceased served in the armed forces. The surviving spouse and dependent children could be entitled to a small pension. The Veterans Administration may pay some of the burial expenses and provide a headstone or marker and an American flag to drape the casket or marker without charge. If burial takes place in a national cemetery, the VA may provide a gravesite and pay burial costs.

3. Contact organizations to which the deceased belonged. Some offer memorial services. They may have life insurance and may return part of dues paid.

4. Contact former employers to see if any death benefits result from that employment.

5. Collect any life insurance policies and contact the insurer(s). The beneficiary may be able to choose in what form the proceeds are paid. If you want to recommend how beneficiaries take the proceeds, set it forth in your documents with your insurance companies.

6. Qualified retirement plans or other individual retirement accounts may have retirement funds left for payment to beneficiaries. Beneficiaries need to contact the company holding the retirement funds. Similar to life insurance, there may be a choice about how distributions can be paid out. Beneficiaries should consult their attorneys before making that decision.

7. Check with the health insurance company. They may pay some expenses of the deceased’s last illness. Premiums may go down if the policy now covers one less person. Some health insurance policies even provide death benefits.

8. Change property titles to remove the deceased’s name. Also change insurance policies for those properties.

9. Change the titles on all bank accounts.

10. Obtain a copy of the death certificate.

11. Meet with an accountant to determine if any tax documents need to be prepared or taxes paid.

12. Contact elevators, electric companies, coops, etc to see if there are any shares or dividend.

If you would like further assistance regarding this or any other estate planning needs please don’t hesitate to call us.

Address

700 N. Vandemark Avenue Suite 108
Hartford, SD
57033

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+16055283000

Website

Alerts

Be the first to know and let us send you an email when Eich Law Office posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Eich Law Office:

Shortcuts

Share

Category