Tuesday, January 27, 2009
Worst Case Scenarios
Okay, my short blog today is going to invite the wrath of someone who has lost a family member due to blowfish poisoning.
If you that have worked with me before, you know I believe that I have a responsibility to explain to my clients all of the worst case scenarios that can result from either not having an estate plan, or the decisions that they make while drafting one.
These typically involve such things as being hit by a bus, your spouse or partner hitting you in the head with a hammer, your spouse or partner running off to Paris with your money and a new lover while you are incapacitated due to said hammer strike, or your entire extended family perishing in a freak meteor strike on your family reunion.
Now, I think I shall add to my repertoire blowfish poisoning.
So, my best advice today: before popping down to Todai for some Fugu, check in with your attorney to make sure that you have your affairs in order. It just makes sense! :)
If you that have worked with me before, you know I believe that I have a responsibility to explain to my clients all of the worst case scenarios that can result from either not having an estate plan, or the decisions that they make while drafting one.
These typically involve such things as being hit by a bus, your spouse or partner hitting you in the head with a hammer, your spouse or partner running off to Paris with your money and a new lover while you are incapacitated due to said hammer strike, or your entire extended family perishing in a freak meteor strike on your family reunion.
Now, I think I shall add to my repertoire blowfish poisoning.
So, my best advice today: before popping down to Todai for some Fugu, check in with your attorney to make sure that you have your affairs in order. It just makes sense! :)
Monday, January 26, 2009
How Same-Sex Couples Can Protect Their Assets
I recently posted this legal guide on Avvo.com. It is a VERY simple overview for those who want the know the basics about how estate planning can protect your assets in a same-sex relationship. As always, I am happy to tell you a lot more about the process and available protections!
Thursday, January 22, 2009
Charitable Giving... of Someone Else's Money?
This article from the AP today made me chuckle. I certainly applaud the Pratts for their generosity. That is, they could have simply stolen the bank's money and NOT given any to charity....
I was amused not only by the fact that they took the money and ran, but by their speculation that they could retire to Florida on $177,000. I don't mean to imply that this is a small sum. For me and most of my estate planning clients, this sum would certainly go a long way towards alleviating the multitude of tiny financial pinches we are all feeling these days. But I think that any financial planner worth their weight will tell you that the income produced off of $177K is certainly not sufficient to support you in retirement.
So, here's a little free legal & financial advice: 1) Even if you believe that a bank error is divine providence, it is probably not legal for you to keep the money, and 2) If you are going to abscond with $177,000, try some Central American country instead: your money will go a lot further and it will be harder for the authorities to find you. ;)
Of course that is a joke, since being on the up-and-up is the best legal advice I have to offer. What isn't a joke is planning for your future, which means consulting with a professional like me for your estate plan, and a financial planner who can help you get on track for a proper retirement, divine intervention or not.
I was amused not only by the fact that they took the money and ran, but by their speculation that they could retire to Florida on $177,000. I don't mean to imply that this is a small sum. For me and most of my estate planning clients, this sum would certainly go a long way towards alleviating the multitude of tiny financial pinches we are all feeling these days. But I think that any financial planner worth their weight will tell you that the income produced off of $177K is certainly not sufficient to support you in retirement.
So, here's a little free legal & financial advice: 1) Even if you believe that a bank error is divine providence, it is probably not legal for you to keep the money, and 2) If you are going to abscond with $177,000, try some Central American country instead: your money will go a lot further and it will be harder for the authorities to find you. ;)
Of course that is a joke, since being on the up-and-up is the best legal advice I have to offer. What isn't a joke is planning for your future, which means consulting with a professional like me for your estate plan, and a financial planner who can help you get on track for a proper retirement, divine intervention or not.
Monday, January 12, 2009
Bilking the Elderly
In these tough economic times, these kinds of stories have become too common. If you have an elderly member of your family, or elderly neighbors or friends that you fear may be taken advantage of, gently guiding these clients to an attorney to help with their estate planning can put in place some real protections to help make certain that they are not left vulnerable. And, provided that you have a trustworthy attorney, it is another set of eyes that can watch out for your loved-one's interests.
Unfortunately, we occasionally hear of attorneys that have similiarly been wooed by their clients' wealth. You always want to be certain that your loved ones are working with attorneys that can be trusted. Don't be afraid to ask around about an attorney. Sites like avvo.com can give you some limited perspectives, and you can always search the Bar to see if there are any ethical violations for any particular attorney.
Best yet, interview the attorneys to which you are sending this vulnerable population, and make certain that they seem trustworthy. The attorney may not be able to discuss the particular client matter with you, but any attorney ought to be able to provide basic assurances to you that they have a fundamental understanding of, and belief in, the important core ethics of the attorney-client relationship, and all duties that spring from it.
Unfortunately, we occasionally hear of attorneys that have similiarly been wooed by their clients' wealth. You always want to be certain that your loved ones are working with attorneys that can be trusted. Don't be afraid to ask around about an attorney. Sites like avvo.com can give you some limited perspectives, and you can always search the Bar to see if there are any ethical violations for any particular attorney.
Best yet, interview the attorneys to which you are sending this vulnerable population, and make certain that they seem trustworthy. The attorney may not be able to discuss the particular client matter with you, but any attorney ought to be able to provide basic assurances to you that they have a fundamental understanding of, and belief in, the important core ethics of the attorney-client relationship, and all duties that spring from it.
Subscribe to:
Posts (Atom)
