When someone asks me, “Well, if I set things up right, I don’t even need a will or a trust, right?” I often wonder if the person asking the question wants an actual answer, or just wants me to agree with them. I think I understand what the person is asking, but I am not sure why someone would want me, an estate planning attorney, to simply agree that the work I normally do serves no purpose. Perhaps it is because people want to look for easy ways to do things, or they don’t want to be involved with the courts after a loved one or relative passes away. Or, perhaps people just don’t want to … [Read more...]
Talk Among Yourselves: Why Professional Advisors Communicating Matters
Almost everyone has someone in their life who they look to for advice and guidance. Most people look at their parents this way (I certainly do!), but people also have other influential advisors -- whether it be a school teacher, church leader, business mentor or some other sort of influential advisor. These people help show us the way through life, and sometimes they are not confined to one category. I have a church leader who taught me lessons that transformed how I conduct my business, and that have led me to be more successful in service to my customers. I find I am able to pass along … [Read more...]
How Often Should You Update Your Estate Plan?
Almost everyone with whom I work asks me how often they should review or update their estate plan. I don’t have a definitive answer for them, and I sometime I wonder if some people think there is a secret magic formula passes among lawyers to determine the answer to this question. (Spoiler Alert: There is no secret formula) I base this hunch on the reactions I get when I say there is not a definitive time period. Many scoff, others are incredulous that I would not know something so basic (in their minds), and some even react with contempt, accusing me of trying to mislead them, or make … [Read more...]
Protect Your Family: Powers of Attorney for Adult Children
After what sometimes seems like endless years spent raising a child, their adulthood—and all the rights that go with it—may creep up suddenly. When you are about to send a child off to college or to a study abroad program, you're probably busy with travel arrangements, last-minute shopping, packing, worrying about how your baby will fare living away from home, and wondering what the future holds for your child. All of these things are important, and need to be considered and attended to in preparing a child to go off to college. And much as you hope you've prepared your children to take … [Read more...]
Protect Your Family: 12 Ways Power Of Attorney Protects You
“The Twelve Days of Christmas” is a popular song during the holidays, and often misunderstood to be the 12 days leading up to Christmas. The 12 days of Christmas are actually the 12 days after Christmas, leading up to Epiphany - or the day that the manifestation of Christ’s glory was realized - according to Christian tradition. In the spirit of the 12 days of Christmas, here are 12 ways that a Power of Attorney can help and protect you. 1. Allows You to Plan Ahead: Before a Crisis Hits. If you wait until a crisis hits, it may be too late to prepare a power of attorney. Oftentimes I get … [Read more...]
ARE YOU SURE? THE WORST ESTATE PLANNING ADVICE YOU EVER HEARD
Everyone likes to feel knowledgeable and give advice. Unfortunately all of the advice that people give is not always all that good. I frequently meet people who have been given incorrect advice. Some of the most common well-intentioned, yet incorrect, advice I have heard is listed here. Have you ever heard anyone say something like this? “I don’t have anything, so I don’t need a will.” “My family knows everything I want to have happen, and they will take care of it.” “As soon as I die, my spouse automatically gets everything.” or “Everything just goes to my kids.” “That’s … [Read more...]
How NOT to work with your estate planning attorney
How NOT to work with your estate planning attorney I think that I get along with most people. Exceptions seem to include people who treat my children poorly, or basketball coaches who forget how to talk to me when I referee basketball. Other than that, and a few people who seem to not like my sense of humor, I think I do pretty well at getting along with people, including those for whom I do legal work. I often tell people that they should work with an attorney they like, as all attorneys need to have a basic level of competence to practice, and we all like working with pleasant people. … [Read more...]
Why An Online Legal Service Might Not Be All That Helpful
I am often asked why people cannot go online to create their estate planning documents, and a lot of the time it feels like people want me to justify my existence as an estate planning attorney. Generally, people are looking for an inexpensive solution, and they think attorneys are expensive or unnecessary. Although I cannot claim the lowest price service compared to an online service, there are reasons why working with an attorney can be better. (And I do think my prices are reasonable.) Online Services Are Self-Help, or Perhaps Not So Helpful If you have a really simple situation, such as … [Read more...]