Live Webcast/Rebroadcast - You watch the course online at the specified date and time shown below. You can ask questions and receive answers during the course.
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This program was recorded on February 20th, 2019
During this presentation, attorneys will learn about key estate planning and estate administration topics that they are grappling with more than ever before. Today’s estate planning client often seeks comprehensive estate planning services that provide for not just the particular couple but their parents, siblings, and children. This creates a host of challenges for estate planning attorneys. Defining Client, Heirs, and Beneficiaries. Multiple-party representation is not new. It is not atypical for attorneys or firms to represent families; still, it is a journey fraught with malpractice traps if the appropriate engagement letter, waivers, consents, and other check-points are not established early in the attorney-client relationship. Collaborating with Other Trusted Advisors and Key Professionals. One source of referrals for estate planning attorneys are trusted advisors in related fields, such as financial, insurance, or tax professionals. Depending on where and how the attorney was introduced into the process, attorneys may have to provide additional information to advisors and clients and strive to create a diligent and conscientious environment that will help ensure that their clients’ interests are always protected. Additionally, the first generation’s financial professional may not be the professional the third generation prefers and likewise may be said of generation three’s perspective on the attorney. Still, creating a successful collaboration for all parties is essential to establishing a solid plan that will move through the generations. Instruments, Provisions, and Processes. Like the professionals that suit Gen-1 may not be suitable for Gen-2, so might not the instruments, provisions, or processes. Estate planning attorneys servicing the needs of multi-generational clients must consider these issues.