Today we’re going to wrap up our series on the mistakes we often see in estate planning. While we’re all about planning here at Family Estate Planning Law Group (it’s even in our name), we know that some plans work better than others. Here are our last three reasons why:
Mistake #8: My Estate Planning Attorney Does Not Need to Know My Other Advisors
Many people come to this conclusion because they know that if their estate planning attorney spends an hour talking to their financial planner, they are going to get billed for it. Perhaps you have learned this the hard way. While financial planners, CPAs, insurance professionals, and attorneys practicing in other areas all concentrate on different things, they often overlap, particularly when it comes to your estate plan. Doesn’t it make sense for your team of professionals to start talking to each other now, instead of having to try to figure it out once you are not around to make decisions to clarify things anymore?
The solution to this problem is both simple and challenging. The simple part is to get your team of professionals talking to each other now. The challenging part is to find professionals who won’t charge you by the hour. Working with an estate planning attorney with an ongoing care program allows you to feel confident that they are coordinating with the people they need to in order to make sure your plan is going to work without always having to worry about what the bill is going to be at the end. [Read more…]