What to Look For in an Estate Planner
There are a lot of rather obvious factors to consider when choosing an estate planning attorney, the most obvious example is cost. However, it is important to remember the adage: You get what you pay for. This doesn’t mean you have to overpay for your estate plan, but it does mean cost should only be one factor, not the deciding one. Over the last several years I have noticed the major differences between an estate planning attorney and an attorney who drafts an estate plan.
Focus on Estate Planning
All attorneys can legally draft your will or trust. No biggie, right? It just takes a law degree. To be perfectly honest, all attorneys can represent you in a first-degree murder charge as well.
Did that thought send a chill down your spine?
Both situations involve life and death and yet, somehow, we only worry about finding competent, experienced, specialized representation if our freedom is on the line. You would never dream of hiring a general practice attorney to represent you in a capital murder trial; you would look for one with experience in capital murder trials, and likely even one who focuses on them.
A poorly drafted estate plan can cause problems and may in fact create the exact situation you were trying to avoid – it can lock up your estate for your children and prevent access to it, or conversely, give them full access to it when they turn 18. It can appoint the wrong person as Guardian or Executor/Trustee. Unfamiliarity with estate planning terms and options can leave you with a plan that falls shorts of your goals. An attorney with an estate planning focus knows the ins and outs of family dynamics and the questions to ask to get to the heart of the matter. They will offer suggestions you didn’t know you wanted, and solutions for problems you weren’t aware existed.
Personality
I know it sounds odd to mention that a lawyer’s personality is an important factor to consider. In fact, you may even be asking yourself, “Wait – lawyers have a personality?”. What’s that old joke, again?
What do lawyers use for birth control?
Their personality.
Honestly, a lot of our reputation is deserved, but I think we are starting to break that mold. I like to smile, laugh, and crack jokes when I have a conversation and I don’t leave that attitude behind when I meet with a client. Most of my clients find that my personality lightens the mood and perhaps distracts from the unpleasant conversations involved in estate planning. For many, it was even an enjoyable conversation.
That said, some would find my approach flippant and off-putting. The good news is that there are plenty of lawyers who can accommodate a client looking for a serious, no-nonsense approach to their estate plan. All estate planning attorneys have degrees, are licensed, and have experience in estate planning; it follows that intangibles, like personality, will factor in to the final decision much more than you would imagine.
Listener and Conversationalist
At Weese Law Firm there are 2 skills we focus on in our consultations: 1 – a good conversationalist, and 2 – a good listener, in that order.
Certainly, each estate planning attorney has their own approach. But let’s be honest – estate planning topics are not ones most people like to discuss. People typically want to avoid them, not face them head on. By cultivating conversations our clients feel like they are simply talking about their families and finances, not planning for their death. And once we get you talking and comfortable with us, it is important for us to listen to what you are saying. At the end of the day, you’re paying us for our advice based on your family’s goals. If we don’t listen to you, how can we ever learn what those goals are?
Recommendation or Decision
The final factor to consider is whether they will give you a recommendation based on your goals and plans or create the estate plan they think you need. Sure, you can make all sorts of arguments that an attorney’s experience and advice is what you’re paying for, so they should create the estate plan that they think best suits you. However, why should they be able to take away your autonomy? If you have a simple estate but want a trust for privacy, who am I to tell you that I will set up a will for you instead? Conversely, if your children’s needs are better protected with a trust but you don’t want to deal with updating your assets, why should you pay for an estate plan that you won’t be able to use effectively?
I have set up trusts when I thought a will was sufficient, and I have set up wills when I really thought a client needed a trust. I always explain why I would make my recommendation with their specific situation and the impact of going the other route. But at the end of the day you must be comfortable with your estate plan and my recommendation might not be in your comfort zone. At that point my job is to listen and execute YOUR wishes, not my opinion.
I could go on about all the intangibles your estate planner should have, but the important thing is to call a few and get started on your plan. If you would like to find out whether we are a good fit for you and your family, please email me at jamie@weeselawfirm.com or call 913-706-8491.