Everyone has heard the cliché “the devil is in the details” – it is never more true than in estate planning. This is why working with a seasoned estate planning attorney is critical to ensure all the “t’s” are crossed and “i’s” dotted. Little things can negatively impact your loved ones, and that is not what you want to happen.
Here are just a few examples of those “little things” that can and do happen in the hands of less experienced attorneys.
Clients become very emotional about the distribution of their hard-earned assets. Of course, that’s normal, they work hard all their lives and want to make sure their worldly goods are left to the beneficiaries they’ve chosen. Lots of time might be spent on who gets the vacation home, speedboat, or heirloom jewelry. Rightfully so, but sometimes it is the “little things” that have no real monetary value that can cause long-lasting, negative results in a family. A grandmother’s costume brooch, an old dresser, or even a casserole dish can be the cause of a huge family feud, leading to long-term estrangements among siblings. While the monetary value is negligible, the sentimental value may be enormous. An experienced estate planning attorney like myself will encourage you to consider assets beyond the “big stuff.” To consider whose feelings might be hurt if such sentimental items are not mentioned in the will but left to be fought over.
Here is another “little thing” – ambiguous language in your will. A seasoned estate planning attorney has likely seen it all, from blended families arguing over an estate to ex-spouses making wild claims. When developing your estate plan, you should be able to rely on your attorney to ensure your directions related to asset distribution are transparent and not open to interpretation. An estate plan that has “gray areas” open for interpretation will not be helpful to your heirs; in fact, it might open the proverbial “can of worms,” causing your rightful heirs both time and possibly money to sort out. It might even cause considerable delays in your heirs’ ability to receive their rightful inheritance. One poorly written, unclear sentence is all it can take. That’s why working with a seasoned estate planning attorney is vital.
One more “little thing” that can have devastating consequences is trying to do your best for a loved one, but having that effort turns out to be the worst possible thing. I’m referencing special circumstances that surround special needs heirs. If you have a family member with a disability, you need an estate planning attorney who understands the laws – otherwise, you might unintentionally disqualify your disabled child or grandchild from receiving public benefits or have the benefits reduced. It could appear to be a “little thing” on the front end as you prepare your plan, but thoughtful planning with a knowledgeable estate planning attorney is the only way to ensure you don’t end up hurting the one you love.
Wills are the best way to ensure your hard-earned assets are left to your loved ones as you intended. So, first things first, if you don’t have a will, call me to schedule an appointment so we can get started. Second, if you already have a will that hasn’t been updated in a while, now is a good time to update it as needed to ensure it doesn’t include some of those “little things” that can be problematic for your loved ones. You can reach me at 513-399-7526 or just go to www.davidlefton.com and schedule our meeting there.
I look forward to working with you!