Most people understand the value of a financial advisor: someone who helps them save, invest, and work toward long‑term goals. But they mistakenly think estate planning documents are a one-size fits all that AI, document preparers, internet legal services and financial advisors can do for cheap. When it comes to real protection, control, and creating a legacy, your estate planning documents should reflect you and your values, this is something that AI, document preparers and internet legal services simply cannot match. There is a plethora Estate and asset planning done right provides legal power, future certainty, considerable long-term savings, family protection and a reflection of your values in ways that financial planning, document preparers, AI and internet legal services cannot achieve.
If you live in a nice neighborhood, you are likely to receive weekly offers for a free steak dinner from a financial advisor or insurance agent, who say they are offering estate planning services. But what they are doing is selling you on annuities, insurance policies or becoming your financial advisor. You see annuities and life insurance policies have big upfront fees baked into them and if you don’t hold them until maturity, you will pay many thousands of dollars in early redemption/break fees. Financial advisors make a percentage of assets under management, every year. They want you to stay with them; and if giving you generic estate plan documents helps you feel tied to them, that is good business year over year.
On the other hand, there are the cheaper price options of document preparers, internet legal services or even AI, which are premised on the lowest common denominator should be good for everyone and therefore a cheap price can be offered.
Other attorneys, like me, cringe when we see the documents that this category of drafters provide and then become saddened when families come to us wondering why these documents aren’t working or have created a problem within the family or the assets are not transferring consistently with the Will or Trust. In all instances it is because they engaged someone or a service who had no ethical duties to them in the creation of their estate planning and did very little work to understand their needs. They are a volume business and have a different agenda than the client’s best interests; and they are not bound by the ethical duties of an attorney.
Hundreds or even thousands of people are walking around with the same documents. I personally have seen where the wrong state statutes are referred to, legal clauses that are not valid in the governing law they say the documents are drafted under, deeds that are patently defective on their face and trying to transfer assets in a way that is illegal and fails. What is the result? Frustration when family members are struggling with death or a serious medica condition, upset and a much bigger legal bill to clean it all up in court or create family settlement agreements – if that is possible. Some of my colleagues joke and say we love internet legal services, document preparers and financial advisors estate plans, as we make a lot more money at death from all their mistakes, then if we had drafted the estate plan initially.
If you’re ready to begin crafting your estate plan, or need to update an existing estate plan, our Scottsdale estate planning attorneys at Tritch Buonocore Law can answer your questions. Call (480) 525-6244 to schedule a consultation.
At Tritch Buonocore Law, you can be assured we don’t make promises unless we’re fully confident in our ability to keep them. If we aren’t well-placed to handle your matter, we have no issues in saying so and providing you a referral. It’s not about saying what you want to hear. It’s about reliably delivering.
The team at Tritch Buonocore Law features uniquely skilled attorneys and solicitors, who are licensed in Arizona, California, and England and Wales. It’s one thing to make claims. But it’s another thing entirely to have the experience to back them up.
We understand that hiring an attorney is an important decision. It’s important to us that we are a good fit for our clients, while recognizing that we won’t always be. We aim to help you achieve your goals and are not deterred by the complexity of your matter or the difficulties you might be facing.
The experienced professionals at Tritch Buonocore Law have worked with companies of all sizes, from small start-ups to large publicly held corporations. We have first-hand knowledge of establishing, building and selling businesses. We’re here to help you navigate the legalities of corporate law, so that you can stay focused on your business goals.
The experienced professionals at Tritch Buonocore Law have worked with companies of all sizes, from small start-ups to large publicly held corporations. We have first-hand knowledge of establishing, building and selling businesses. We’re here to help you navigate the legalities of corporate law, so that you can stay focused on your business goals.
While none of us enjoy thinking about and planning for our death, it is something we will all face one day. Our estate planning attorneys compassionately discuss with you the myriad of possibilities and help you plan for the future, so that your loved ones don’t have to deal with an unplanned estate on top of their loss.
Dealing with the loss of a loved one can be overwhelming in and of itself. Then the financial aspects of accounting for a person’s life dawn on the survivors and it can seem insurmountable. We work with our clients, the Personal Representative/Executor or Trustee in supporting them through, not only the legalities of the process, but also lending our expertise in handling different assets to take away as much of the stress as we can.
With Tritch Buonocore Law acting for you, your Estate Planning, Probate and Corporate legal needs will be handled with expertise and compassion. We are locally based in Scottsdale but serve all of Arizona and are licensed in California and England. We serve clients globally and in all parts of Arizona and California. Whether you’re in Paradise Valley, Tucson, Flagstaff, Gilbert or Phoenix; you can easily access our office and you can expect answers that are easy to understand, even when the issues are complex.
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