The following are not and shall not be intended for, or construed as, legal advice:

Q: “What is Estate Planning?

A: Blacks Law Dictionary (West, 1999) defines it as “the preparation for the distribution and management of a person’s estate at death through the use of wills, trusts, insurance policies, and other arrangements, especially to reduce estate-tax liability”

Q: "Is the expense of Estate Planning worth it?"

A: Yes. Not only do you save your heirs money by avoiding probate, which can consume 5-10% or more of your estate, more importantly you can make your passing easier for them. By pre-planning, you are making a record of your desires for distribution of your assets and interests, and by providing for any expenses. This process can significantly help your loved ones grieve you without interfering themselves or their family relationships with conflicts over the other details or about what you would have wanted.

 
A: It depends. In many cases, yes, especially if you have real property, cars or other titled interests of significant value. Most people associate Trusts with the Rockefellers and the Kennedys and other wealthy families. The fact that wealthy families have been using trusts for centuries should tell everyone that there are some advantages to a trust. The computer age has decreased the costs to the point that everyone can afford a trust. The primary advantages are the ability to avoid the expensive costs and prolonged times of Probate as well as influence the behavior and interests of your heirs from beyond the grave. The primary disadvantage is the mobility of assets placed in the trust, as well as some tax and insurance consequences.

Q: "Why should I use an Attorney and pay more when there are software programs available that appear to do the same thing?"

A: Appearances can be deceiving. Most software cannot address your specific concerns or wishes. Estate Attorneys, on the other hand, can provide a more pervasive, more comprehensive and better custom tailored Estate Plan than a software program can provide. In it very likely that your specific needs and wishes can or will not be address by the software, as they rarely are able to make those distinctions. Estate Attorneys also carry insurance that can cover any expenses incurred if mistakes are made, whereas most software programs tell you to seek legal assistance to insure that there are no problems with what they have created. This causes them to have little or no liability if something goes wrong with the Estate Planning. Using Software may decrease expenses if an Attorney simply reviews the documents. However, as the old adages go, "You get what you pay for".

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