July 2025 Margaret’s Notes
Summer is now in full swing; kids are out of school regardless of whether you are on the East Coast or West Coast, and you may have already started some of your summer vacations. I am getting updates from clients in all sorts of interesting places and happy for them.
To that end, our office will be closed from July 3-7, as our little team would all like to take time off. I am very happy that I will be at the beach in California with all 3 of our kids and my step-kids too. Gennaro, my husband, remains in balmy Syria on Active Duty throughout the summer.
As part of this month’s newsletter, we enclose articles on how to search for and find a good estate planning attorney. Now if you are reading this, hopefully you have one. But it’s worth discussing this with your family and friends. I have seen an increase in clients coming to us with what is now referred to as “Cheap Legal”. This includes online “legal services”, document preparers (a title anyone without any legal education can give themselves), and the new DIY with AI. This makes me sad, as the true value, or lack thereof, that they got is glaringly apparent once incapacity or death arrive. Incapacity – we might escape but the other one is certain.
If you are incapacitated, you really need well- drafted documents. Cheap legal won’t help you preserve the assets you have and qualify for government benefits; or alternatively, ensure that your agent is directed to provide you with the best care and not worry about what is left over after your death; or something in between depending on your wishes. Cheap Legal is a one size fits all prepared by someone or a computer, who doesn’t know the difference.
The ironic part is that cheap legal costs a lot more at the back- end than what people saved during their lifetimes. I see this with business documents as much as estate planning documents.
Thus, I hope that you, and those you care about, will involve competent legal counsel when creating documents and agreements that you intend to be legally binding in carrying out your intentions. Then you can relax and enjoy your summer knowing you have done your best to protect yourself, those you love and your business interests, which for most of my entrepreneurs is akin to someone they love.
Wishing you a great rest of your summer!
