The holidays bring so many things—good food, memorable moments, and time with the people who matter most. They also bring something else: a rare window when families are together under one roof. For many Idaho families, this makes the end of the year the perfect moment to review or update your estate plan, talk openly with loved ones, and make sure your legacy (and theirs) is protected.
Whether you updated your documents years ago or you’ve never formally created a will, this season is a natural reset point. And in Idaho, where state-specific laws often determine what happens to your property, children, and finances, taking the time to prepare now can prevent confusion or heartache later.
Below is a comprehensive guide outlining what you should review and why it matters—especially in Idaho. At the end, we’ve included a simple downloadable checklist to make year-end planning conversations easier for you and your loved ones.
Your Comprehensive End-of-Year Estate Planning Review
1. Review Your Will or Trust
If you already have a will or trust, ask: Does it reflect your life today? Many people create their documents years—or even decades—ago and forget to update them.
- Has anything major changed this year?
- Do the people listed still reflect your wishes?
- Does your trust align with Idaho law if you’ve recently moved here?
- Do you need to add new assets, properties, or digital accounts?
In Idaho, dying without a will (intestate) means your estate will pass according to state statute—not necessarily the way you intended. A simple review yearly prevents surprises.
2. Review Your Property, Real Estate, and Ownership Structure
Real estate is often the most valuable part of an Idaho estate. Whether you purchased a home, added someone to your deed, inherited land, or refinanced, your ownership structure matters.
Idaho’s laws around community property and titling determine who inherits your share of property—and it may not be who you expect.
General Idaho Real Estate Review Checklist
- Did you buy, sell, refinance, or inherit property this year?
- Is your deed titled correctly for your goals?
- Should your home or land be added to your trust?
- Does your will clearly direct who inherits each property?
- Would you be comfortable if your property transferred to the person Idaho law currently designates?
This becomes critical if you’re sharing property with someone you’re not married to.
Special Cases: What If You Own Idaho Real Estate With Someone You’re Not Married To?
Idaho law does not automatically protect:
- Unmarried romantic partners
- Same-sex couples who are not legally married
- Parents and adult children sharing property
- Siblings co-owning inherited land
- Friends or business partners who purchased a home or cabin together
Without clear documentation, the consequences can be serious.
What Can Happen Without a Plan
- Your share may not transfer to your co-owner.Unless you use the correct deed structure (e.g., joint tenancy with rights of survivorship), your share becomes part of your probate estate—and may pass to relatives rather than the person you’re sharing the home with.
- The remaining owner could face a forced sale.If your heirs and co-owner disagree about the property, Idaho law allows partition actions—even if it means selling the home.
- Your co-owner may lose control of the home entirely.Without estate planning documents, they often cannot refinance, sell, or legally manage the property.
- Unintended heirs may inherit property.Especially common in parent/child or friend/friend ownership.
4. Update Health Care Directives and Powers of Attorney
Every Idaho adult should have:
- A Durable Power of Attorney for Health Care
- An Advance Directive (Living Will)
Review:
- Whether your chosen agents are still available and willing
- Your end-of-life preferences
- Instructions for life support, pain management, and medical intervention
- Whether you shared your wishes with family
These are critical discussions to have while loved ones are nearby.
5. Update Your Financial Power of Attorney
This document allows someone you trust to manage your finances if you become incapacitated. Review whether:
- Your chosen agent is still the right person
- They live close enough to help
- They understand your financial preferences
This is often one of the most important documents in an Idaho estate plan.
6. Inventory New Assets (Property, Vehicles, Investments, Accounts)
Many Idaho families add assets over the course of the year:
- Cabins and recreational land
- ATVs, boats, RVs, or farm equipment
- Rental properties
- New bank or investment accounts
- Digital assets and online accounts
Add all new assets to your plan so nothing is left unaccounted for.
7. Review Guardianship Wishes for Minor Children
This is one of the most meaningful conversations families can have while gathered for the holidays.
Consider:
- Whether your chosen guardians still feel appropriate
- Whether they understand your expectations
- What financial resources you want available for your children
- Whether you need to update your trust to reflect changing needs
If no guardian is named, Idaho courts will choose one based on their interpretation of “best interest.”
8. Discuss Long-Term Care and Aging Wishes
Idaho families often care for aging loved ones across multiple generations or rural distances. Review:
- Your preferences for long-term care
- Whether you want to remain at home as long as possible
- Who will coordinate care if needed
- How costs will be covered
- Whether Medicaid planning should be a consideration
This is a valuable conversation to have before a crisis occurs.
9. Idaho Business Owners: Review Your Business and Its Place in Your Estate
Small businesses play a major role in Idaho’s economy—and in many families’ financial futures. If you own a business, it must be included in your estate plan.
Year-End Business Owner Review
1. Review your business structure and agreements.
Operating Agreements, Partnership Agreements, and EIN records should match your current operations.
2. Update or confirm your succession plan.
Who steps in if you’re incapacitated? Who inherits ownership?
3. Review or create a buy-sell agreement.
This prevents disputes between your heirs and business partners.
4. Evaluate life and disability insurance.
These policies often fund buyouts or support your family.
5. Add your business to your trust or will.
If it’s not included, Idaho probate may determine its fate.
6. Discuss your wishes with business partners and family.
Use holiday gatherings to communicate clearly.
10. Plan a “Legacy Review” While Everyone’s Together
You don’t need a formal meeting—just open, honest conversation. Consider:
- Walking through where your documents are stored
- Reviewing your medical preferences
- Sharing your intentions for property and sentimental items
- Talking about the future of your business, farm, or land
- Scheduling a meeting with an estate planning attorney while everyone is available
These conversations create clarity and protect your loved ones.
Holiday-Friendly Ways to Talk About Estate Planning
- Take a walk with family and talk through concerns
- Sit down for coffee and review a simple checklist
- Share where important documents are stored
- Ask loved ones for their own preferences and wishes
- Book a consultation with Madsen Beck while everyone is in town
Whether you’re updating your will, navigating co-owned property, planning for your business, or preparing to protect your family’s future, our Idaho estate planning team is here to help.
Schedule your estate planning review today—and enter the new year with clarity, confidence, and peace of mind.