Tips, Techniques and Things to Think About - A Practitioner’s Point Of View
From the monthly archives:
If I believed in past lives, I am certain I died doing something stupid. I hear “better safe than sorry” routinely in my head. It isn’t my mother’s voice - she would say things like “moderation is for the monks.” I am worried I will die and people at my funeral will be saying “how stupid was [...]
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Estate planning attorneys have been spoiled. Traditionally, we have helped our clients plan what to do with all of their wealth. Whether it was lots of wealth, or even just enough wealth, the conversation was about how to pass it on. I never realized how nice it is to have clients who are financially secure. [...]
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It depends on your practice of course. Some things that you might tell your criminal or family attorney might be unusual for your estate planning attorney to hear. We, as estate planning attorneys, need to get a lot of very personal information from our clients at our initial meeting. There’s nothing like getting introduced to a total stranger [...]
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Reviewing an estate plan written by another attorney can be difficult at best. Two trusts that do exactly the same thing can look entirely different. Until you get good at reviewing estate plans, it is not a fun job. One of my favorite courses that I teach is Understanding Your Client’s Estate Plan. This course [...]
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I love the practice of estate planning. Every estate plan has an issue. Many times, it is an issue the client never contemplated. Maybe it is figuring out who will be the guardian for your minor children or how best to leave a small gift to the grandchildren. I enjoy coming up with options for my clients.
Many [...]
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I have yet to determine how this relates to estate planning, but before this post is up, it will, or at least come close. Yesterday, I was fortunate to have the opportunity to tour the USS Rhode Island, an Ohio-class, nuclear-powered, ballistic missile submarine. Its motto, according to Wikipedia, is “In hope of everlasting peace.” Yes, [...]
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I have a studio recording session next Thursday night and right now, I have nothing to say. No, I’m not a rock star - I provide continuing education to attorneys and financial professionals and we record our courses in a studio. I have other things on my mind, like when is the new estate tax [...]
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I live next door to my dad - not just in the same town, or on the same street, but right next door. All of my siblings live in California, which is where I lived before moving to Florida. I usually see my Dad every day, but even if I don’t go next door and [...]
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This is a great question, but it’s impossible to come up with the same number for everybody and every situation. Here are some factors to consider:
Is your attorney charging you a flat fee or an hourly rate? I prefer a flat fee for the majority of estate plans. If I know your situation and we have [...]
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In simple terms, estate planning is preparing for incapacity and death. In addition, we can accomplish other objectives, some of which are listed below. Keep in mind that, depending on the size of an estate, some of these options are not economically viable.
Control from the grave. This is the ultimate “with strings attached” gift. An [...]
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