Estate Planning Practice Blog

In Loving Memory.

Over 4th of July weekend I hosted a lovely 50th birthday party for a very dear friend of mine. We met over ten years ago when I worked at The Aerospace Corporation. We've remained good friends over the years. She had a big bash for her 40th birthday. I don't remember being there, but there are pictures to prove it. Two years ago I offered to host the 50th birthday bash. And we did with an awesome salsa theme replete with salsa dance lessons, mojitos and delicious pulled pork.

During the course of the party, I met all of her wonderful friends and family. I spent a considerable time talking to the most amazing couple about their 3 boys, remodeling backyards and their passions in life. My husband and I had a terrific day getting to know this couple. I even told my friend after the party that they were so wonderful, kind and loving.

I received an email this morning saying that they were killed in a car accident on vacation over the last weekend in July. Their three boys survived the accident unhurt losing their parents.

I am in complete shock. Personally, I hate road trips. But, running over and over in my mind, is that this is a just a smack dab real life reason to get your affairs in order.  Families with young children need to have estate planning in place. We need to name guardians for those babes (they were 3, 5, and 8 years old), have life insurance policies for them and do everything possible to minimize their grief.

May they rest in peace. May their boys have the strength and courage to mourn their parents and live their lives knowing that their parents loved them dearly.

Hypocrisy.

I am not a hypocrite. I talk about the importance of estate planning all day long because I know why it's important. My parents passed away when I was in my twenties eight years apart. My brother and I had to open probate for my Dad's estate. It was torture. But this is not the reason for this post.

This post is about hypocrisy.

I listened to a presentation about disaster planning the other day. It was a powerpoint presentation and extolled the virtues of disaster planning. Very detailed. At the end of the presentation, my first question to the presenter who was a business owner herself, was do you have your own disaster preparedness plan in place?

Quick pause. No. [Ah ha! This lady does not practice what she preaches.]

Okay. At least when someone asks me if I have my own estate planning in place, my answer is yes. I had an attorney prepare the documents I talk about all the time for my family.

Yes, it's that important.

Eliciting a Fast Response? You Bet!

I had to laugh ... I was about to step out for a lunch meeting and checked my email one last time.

There it was. An email from a blog reader quoting my July 15 post where I wrote, buried in the middle of a diatribe on real estate and probate, that,  "I answer questions about estate planning all day long without charging anyone. A quick email or a quick mention in person will always elicit an answer from me."

Elicit being the key word.

The kind reader wrote in her email that "I am writing to you after I read in your blog that a quick email will always elicit a response from you." I had to reply. Her email was dated 11:44 a.m. and my reply* went out at 11:57 a.m.

Not too shabby, eh?

* Though my reply said I was going to a lunch meeting and would respond to her substantive question afterwards. LOL. I did respond more thoroughly an hour later in case you wonder.

Reviewing Your Estate and Financial Plans Is Like Baking a Cake.

I heard an interesting analogy this morning. It was about how often you should review and examine your financial planning. It is  apropos to estate planning as well.

The analogy was this:

When you bake a cake in the oven at 350 degrees, do you leave it there without checking on it? Of course not. You check it on it often either through the oven window or propping the door open during throughout the baking process. Would you leave it there for two years with the oven on and not checking it? The resounding answer from the audience was of course not!  [This is a chocolate cake analogy by the way ... note the use of the chocolate colored font.]

If you have a financial plan or estate plan in place, be sure to check on it often. It doesn't have to be every 15 minutes. Every year is a good milestone for a mental review.

For estate plans, you want to mentally note any changes in your family structure because of birth, death or divorce.  You will also want to note if you have recently acquired or any additional assets that need to be included in your trust or dealt with in some manner. You will want to also note if your wishes have changed with respect to your executors, successor trustees and beneficiaries of your estate plan.

And, lastly, consider reviewing your estate plan with an attorney every two or three years to ensure that your plan is both in compliance with and incorporates current laws.

Someone Noticed.

A lovely and blushing post about how I practice law as one of countless solos with a heart for clients from Carolyn Elefant, Esq.

Carolyn's website My Shingle is "a website for and about solos and small law firms..." Carolyn's practice revolves around energy regulatory work and renewable project development.

Thanks for noticing.

Making Up for Another Lawyer's Misdeed.

I don't know where to begin with this post. I am not even sure I should be posting about it... but I will.

On Saturday, April 1, 2006, Michelle and I participated in Bill Handel's Law Day. Read my post about it here.

I spoke to many people that day. I also spoke to a very warm and loving middle aged couple. They told me that they hired an attorney based on a recommendation from her work for estate planning. I do not wish to write everything that transpired other than they paid him $1500.00 for estate planning documents.  And to this day, they still haven't received their documents.

I believed them.

I offered to prepare their estate planning documents at no charge to show them that not all lawyers are greedy and irresponsible. The stereotype of greedy lawyers bothers me. I do not think I am one of them. Or rather, I hope not.

After multiple correspondence by phone, email and fax, they came into my office this afternoon to execute their estate planning documents. They live almost two hours away. They made the trek. I did the work. They are nothing but thrilled and relieved to have their estate planning documents in place.

They have lodged appropriate complaints about this attorney with various agencies including their referral source.

It felt good to be able to help them out.

Is it the Tissue?

Huh? What am I talking about?

Well, it is about a very funny observation in my office when I meet with estate planning clients.

First, let me remind you of my post on February 3 that estate planning is a happy time.

Last year when I met with clients, many of them cried during our meeting. They cried about the thought of their dying and leaving their children alone. They cried at the thought of another loved one's passing. It is tough sitting in my chair sometimes. I don't know what to say or do sometimes other than just offer the box of tissue sitting to the right of my desk.

So I offered the tissue. And kept offering it as I met with different clients.

One day, the box of tissue was not in my office. It was in my partner's office. She needed it for one of her clients.

And I didn't retrieve the box of tissue for a while.

I noticed that clients stopped crying. I had no idea why.

Then it hit me, they cry if they see the tissue. It gives them comfort knowing that they can reach into the box and cry into the tissue.

I really want to reinforce that estate planning is a happy time so I often share this exact tissue observations with my clients if I notice them tearing up. We laugh at the notion. And then we continue on. It's a nice little segue to taking a mental break.

So you may be wondering, where's the tissue?

It's under my desk now. I bring it out if there's a flood of tears.

Do you think the tissue box should be on my desk? If so,  post a comment and tell me your thoughts.