The failure to plan your estate properly can result in many disastrous problems, e.g., the estate you built does not get distributed to your loved ones; the estate gets eaten away by taxes; the estate gets distributed to someone with a substance abuse problem; the distribution of your estate is delayed unreasonably; the government dictates who get your property, etc. Despite these serious problems, many people – including sophisticated business people and Judges – have failed to plan their estates properly. This results in years of litigation for their families, at a tremendous cost.
Similarly, the failure to review your estate plan regularly with your attorney also can lead to trouble. The one constant in life is change. Your circumstances change all of the time, e.g., more grandchildren are born; your children get divorced; beneficiaries and trustees die; your assets change; and perhaps of most importance, your wishes change. Unless you stay on top of your estate plan, your wishes may be defeated.
It is amazing how many people do not understand what their estate plan provides. This probably is due to the fact that they do not have the type of relationship with their attorney where they feel comfortable in reviewing and discussing what their documents provide. Our goal is to establish a long-term relationship whereby you will feel comfortable calling to ask any question you may have.