A common misconception is that estate planning is simply a “plug-and-play” and that estate planning attorneys just “fill in the blanks” on a pre-created form. As a result, many people don’t believe they should pay to have their estate plan prepared. While it is true that there is standard form language in every Will or Trust, the meat of the plan is far from generic. A good estate planning attorney listens to your specific family situation and considers things like prior marriages, blended families, the ages of children, how responsible each child is, the varying needs between children (perhaps one is in college and another in middle school), among other things. We know the difference between per stirpes and pro-rata and why the distinction is important. We look at your finances to see if tax planning is required, or if probate would be overly complicated based on your current assets, but also potential future ones. We plan for the law as it currently stands, but have caveats for changes in the future to provide a comprehensive document that can stand the test of time. A good plan considers and thinks about the “what ifs” too. What if a child becomes disabled and is on government benefits? What if a child predeceases you, where do your assets go? What if divorce happens to you or a child? What if a minor inherits? While the language in a good estate plan may seem long and complicated and sometimes “too much,” a good plan encompasses now, later, and maybe.
As technology changes things like children born after a spouse’s death, or cryptocurrency become more common place and need to be taken into account. A good estate plan isn’t so much about how much you have, as it is about planning well with what you have. During a consultation, it may seem that your questions are easily answered and the solutions “weren’t that hard,” but those answers took years of study and experience. Remember that an easy answer from us has more than ten years behind it. Any estate planning attorney has horror stories of do-it-yourself or legal zoom estate plans that accidentally disinherited someone or wasn’t properly executed (see our blog on Common Estate Planning DIY Mistakes). Additionally, an estate plan doesn’t end when you leave with your documents. You may find you need guidance on beneficiary forms, or out of state property. We work with you from the first phone conversation onward. As your life situation changes or the law changes, we continue to work with you and advise you on updates to your plan. While an estate plan may seem expensive, a well-done plan will provide peace and security for you and your family both now and in the future.
At Grissom Law, LLC we look at each client’s situation and determine the best plan taking into consideration all of the above and more. Our clients are clients for life as children grow up, parents get older, finances change, and new laws are passed. We provide documents, but also answers and solutions, we provide guidance and are a resource for clients as unforeseen circumstances arise.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney-client relationship between you and Grissom Law, LLC.