The Impersonalization of the Estate Planning Process

Estate Planning Impersonalization

In the early 90s, the popularity of living trusts led many lawyers to venture into Wills and Trusts. Consequently, the practice became impersonal, relying on fill-in-the-blank-form documents. More recently, online document drafting services have further contributed to the prevalence of this generic solution.

However, these documents often fail to protect your family from legal disputes and conflicts. Regrettably, individuals, including lawyers with limited Estate Planning experience, grasp the words on paper without fully comprehending their implications. Tragically, the ones who suffer the consequences of poor Estate Planning decisions are your loved ones.

The Typical Approach

Consider this familiar scenario: you meet a lawyer who prepares standard form documents for you (this approach emboides the impersonaliztion of Estate Planning). Relieved, you sign the papers, believing you’ve taken care of this crucial matter.

You take home a fancy planning binder and place it on a shelf or in a drawer, mentally checking off “estate planning” from your to-do list. You seldom think about it again.

Perhaps you vaguely recall your lawyer mentioning the need to transfer your bank accounts into the trust. You visit the bank but forget the exact steps. Consequently, you contact your lawyer’s office, leave a voicemail, and leave the bank, waiting for a call back, which may take several hours or even days. By the time you receive a response, you’ve become occupied with other tasks, and the bank account remains untouched.

A few weeks later, you receive a bill in the mail for $67.50, reflecting 5-7 minutes of your lawyer’s time for answering a couple of questions. You mentally note not to contact the lawyer again.

Several Years Later…

You refinance or sell your house and purchase a new one. However, you forget to inform your lawyer or ensure that the title remains under the trust’s name.

As your children grow older, your chosen guardianship arrangements become outdated. However, you hesitate to contact your lawyer due to the anticipated bill for a six-minute call.

You hear about changes in tax laws but assume your lawyer would inform you if they were relevant. Consequently, you don’t concern yourself with it, as locating the lawyer who prepared your documents would require digging through your belongings.

Who Has Time for That?

The problems arise when you become incapacitated or pass away. Your family discovers the binder you stored on a shelf, only to realize how outdated and disconnected the plan is from your life, assets, and the law.

Your family is left feeling bewildered, unsure of whom to turn to or what to do. They often reach out to the same lawyer who initially prepared the documents. This lawyer gladly handles the probate of assets that never made it into the trust, accumulating significant billable hours.

Unfortunately, the estate planning industry primarily caters to older individuals aged 70 and 80 who prepare for death, rather than serving growing families experiencing constant change on their path to success.

We Understand Your Needs

At Life & Legacy Law, we recognize your appreciation for ease, convenience, and efficiency. You lead a busy life, striving for growth and planning a prosperous future. We understand your desire to make well-informed decisions for your family, ensuring that your plan functions effectively when your loved ones need it most. You want to secure the best possible care for your children and guarantee their preparedness to inherit your wealth in the event of unforeseen circumstances.

This aligns with our focus.

Life & Legacy Law has developed a unique system, granting you the same level of access to a lawyer that was once reserved for individuals like Bill Gates, Warren Buffet, and Sam Walton. You too can receive the guidance necessary to build and maintain a life of prosperity and wealth.

We foster open communication with our clients.

In fact, we have discarded time clocks, eliminating any fear associated with reaching out for quick or lengthy inquiries. All our services are provided on a flat-fee basis, agreed upon in advance, ensuring no surprises along the way.

When you contact our office with a question, you won’t have to wait hours or days for a callback. We prioritize prompt responses to address your concerns.

Furthermore, if you require a more comprehensive legal or strategic discussion, we will schedule a call at your convenience, making the most efficient use of your time. We won’t waste time with endless voicemails back and forth.

At Life & Legacy Law, we guarantee diligent adherence to the essential details of your plan, ensuring its effectiveness throughout your lifetime.

Your True Legacy

Typically, estate plans focus solely on transferring “financial” wealth to the next generation. However, we believe that your financial wealth constitutes only a small portion of your overall “Family Wealth,” which encompasses your invaluable Intellectual, Spiritual, and Human assets – who you are and what truly matters to you.

Capturing this intangible wealth has proven challenging, and it often dissipates upon one’s passing. How much do you know about your grandparents’ values? Are you familiar with their most cherished personal possessions, their feelings towards you, and the lessons they learned throughout their lives? Chances are, you know very little. However, the wealthiest families preserve these assets, passing them down alongside their financial wealth.

We have developed a tool that allows us to transfer your entire Family Wealth, including your Intellectual, Spiritual, and Human assets. While I can’t delve into the details here, we will certainly discuss it during our meeting. At Life & Legacy Law, we will not impersonalize the estate planning process. In fact, we keep the personalization of the estate planning process, getting to know you and your family, as our priority.

We eagerly anticipate the opportunity to care for your family and meet with you soon!