August 2023: 

The MLO Minute: “There is No ‘I’ in Team – or Estate Plan” — 

By Dennis McAndrews, Esq. and Jillian Zacks, Esq. — 

When we work with clients to develop their estate plan, the interests and welfare of many individuals are often under consideration. When we work with our clients to create their wills, powers of attorney, trusts, and advance medical directives, the welfare of spouses, children, grandchildren, charities, friends, and various loved ones are inevitably important issues to address. The interests and wishes of our clients are always paramount, but a thoughtful and comprehensive estate plan requires the experience, training, and sensitivity of a skilled attorney working with the clients. In our decades of work in this field, we recognize the questions to ask, the issues to raise, and the options to explore in assisting clients in a highly collaborative manner.

 

In addition, we realize that in many of our estate planning matters, our clients already use the services of other talented professionals whose insights and perspectives must be considered. For example:

 

• A financial planner or investment advisor may advise the client on a wide variety of topics including retirement, investment, tax, and charitable planning.

 

• An insurance professional may recommend life insurance to fund a trust or provide liquidity at the client’s passing.

 

• A trust officer may be involved if an existing trust is in effect, or where our clients wish to create a trust with a specific trust organization.

 

• A certified public accountant is often closely involved with the family in conducting their yearly tax planning and can offer valuable perspectives regarding future needs and options for identifying beneficiaries or fiduciaries.

 

• A respected or revered charity may include a development officer who can offer perspectives where the client wishes to designate a charity as a beneficiary of a will, life insurance policy, IRA, annuity, etc.

 

Our estate planning team always welcomes the opportunity to consult with other relevant professional advisers to develop a fully proper estate plan. Even if your need involves only a simple will and estate plan, we are ready to serve and provide the benefit of our years of experience for your benefit and the benefit of your loved ones! Click here to Contact Us Today!