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Wednesday, October 24, 2012
Make Sure You Understand Your Estate Plan
When drafting estate plans, the experienced estate planner has no problem understanding the plan he or she created. Unfortunately, many of the clients are confused or don't bother to consider the real-life consequences of what they are signing. When it becomes a problem, it may be too late to rectify.
There is nothing wrong with an attorney explaining in lay terms portions of your estate plan that are necessarily complex and you relying on those explanations. However, if the explanations are unclear, you must insist that the estate planning attorney spend some extra time with you so that you are comfortable and that you understand what will happen when things in your life change. Insist on clarification.