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by Kenneth A. Eisner
Unless you plan to never die and can ensure that will occur, you should have an estate plan. Most people understand the importance of an estate plan and that it can include a (a) will, which determines upon your death how your property will be distributed, who will handle your affairs and most importantly, who will serve as guardian of your minor children; (b) living will and healthcare power of attorney, which gives you the right to make decisions about the type of care you want, including end of life healthcare decisions; and (c) general power of attorney, which authorizes a person to act for you, as your agent, for financial matters. If people understand the importance of an estate plan, why do so many people not have one?
I know that fees are a big concern. But, people find the money when it is really important, like for tickets to a Steelers game.
I know that facing one’s mortality is also difficult. But, these same people are riding the SkyCoaster at Kennywood Park.
I think one reason is because these people fear the process and more specifically, the attorney-client relationship. They are nervous because the process will be so confusing and intimidating, to be almost painful.
I am here to allay those concerns, by sharing with you two truths. One, lawyers are fun and do not intend to inflict pain. Two, lawyers are not as smart as you think we are. (Please don’t tell any lawyers I said that).
Lawyers are fun. My wife, Jodi, and I recently had dinner with several friends, some of whom are lawyers and some of whom are not. As the dessert was being served, several things occurred to me. First, our lawyer friends were more fun than our non-lawyer friends. Second, at no time during the evening did anyone utter words like: “beneficiary”, “plaintiff” or “subordinated debenture.” When the covered rolls were passed, the passing attorney did not say “enclosed herewith” or “please find enclosed” the rolls. As evidenced by us being the loudest table in the restaurant, everyone in our group had a great time. Our conversations revolved around all kinds of mindless topics, all of which are not appropriate to discuss in the law section of this family magazine. The bottom line is that many of our friends are lawyers and virtually all of them are fun. We even like lawyer jokes. Lawyers are not brainiacs. There is a myth that lawyers are really smart. Generally speaking, we are no brighter than anyone reading this article. To become a lawyer, we must graduate from college, graduate from law school (only 3 years), and pass a bar exam. I do not know a single person in my law school class that did not pass the bar exam, so that’s no big deal. And believe me, we had lots of intelligence-challenged people in our class. Personally speaking, I don’t think that I’m that smart, but people think I am for two reasons: (1) I am a lawyer; and (2) my assistant is real smart.
The views expressed in this article are not necessarily the views of all lawyers, and in fact, may not be the view of anyone else. I cannot guarantee that if you go out socially with a lawyer you will have fun or that he or she will not be able to read the menu.
If you want exceptional estate planning or legal business advice, please give me a call. The process may not be as nerve wracking or mind-boggling as you expect.
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