There comes a time when you must decide what your estate plan will ultimately look like. Plans for your estate come an many different forms, but one key distinction to make between choices is the plan you want versus the plan you need. The plan that you want may not always be the plan that you need.
Most people that decide that it is time to make a plan for their estate already have a general idea of how they want to give away their assets and who they want to give them to before they even speak with an attorney. These people consider the lawyer as just the person that makes sure everything is done properly and legally. When they speak with an attorney they already have an idea in their mind how things will play out. This is the estate plan that they want. This idea may be perfectly fine and work out wonderfully for all involved and the estate attorney just has to put it on paper to carry it out. Oftentimes this is not the case. The estate strategy that a client wants may cause trouble in the form of family fighting or a lengthy probate proceeding. The strategy they want may cause the family to fall apart because they did not plan ahead. The client did not ask the estate lawyer if their plan had any adverse consequences or would cause family strife. The estate lawyer has no duty to speak up and suggest a different plan and it is up to the client to ask if the plan they choose is going to the best for everyone involved.
The estate attorney has experience and expertise in these matters and will present you with the estate plan that best suits you and your goals. This is the estate plan that you need. The strategy you need may be different from the one you want and have some factors in it that you would not have originally thought of or wanted, but it is the plan that will potentially keep the family together and prevent fighting. The strategy you need may be tough to choose short term, but it is long term thinking that is smart thinking when making a strategy. Balancing the estate plan that you want versus the estate plan can be difficult because it is the client that must ultimately make the decision as to what estate plan they want. Before deciding on a plan it is important to look at the big picture and long term goals.
Evan Guthrie Law Firm is licensed to practice law throughout the state of South Carolina. The Evan Guthrie Law Firm practices in the areas of estate planning probate personal injury and divorce and family law. For further information visit his website at http://www.ekglaw.com. Evan Guthrie Law Firm 164 Market Street Suite 362 Charleston SC 29401 843-926-3813
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Wills, Trusts, & Estate Planning Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Evan Guthrie Law Firm | Attorney Advertising