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SVTPerformance's Chain of Restaurants
Road Side Pub
What’s the plan for your estate?
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<blockquote data-quote="JimCSHO" data-source="post: 16510024" data-attributes="member: 183032"><p>In my experience as an estate planning attorney, and now as a trust administrator, this is unfortunately common. People do the estate plan and say, "whew, that is done" and put it on the shelf. After a few years the circumstances change but no one thinks about updating the plan which is now horribly out-of-date (both for goals of the client as well as for any changes in the law). When the plan "matures" (our way of saying, hey, the client just died) we get to manage the fall out among the survivors, who now don't talk to each other again.</p><p></p><p>That's also why I always stress to students when I teach at the law school that the most important thing for the attorney is to always be asking and considering the "what if" questions. A good estate planning attorney should have asked, "what if you have more children, what should be done with the Mustang and Hot Wheels that you just specifically gave?"</p></blockquote><p></p>
[QUOTE="JimCSHO, post: 16510024, member: 183032"] In my experience as an estate planning attorney, and now as a trust administrator, this is unfortunately common. People do the estate plan and say, "whew, that is done" and put it on the shelf. After a few years the circumstances change but no one thinks about updating the plan which is now horribly out-of-date (both for goals of the client as well as for any changes in the law). When the plan "matures" (our way of saying, hey, the client just died) we get to manage the fall out among the survivors, who now don't talk to each other again. That's also why I always stress to students when I teach at the law school that the most important thing for the attorney is to always be asking and considering the "what if" questions. A good estate planning attorney should have asked, "what if you have more children, what should be done with the Mustang and Hot Wheels that you just specifically gave?" [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
What’s the plan for your estate?
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