The other day I wrote about the perceived expense of attorneys. The premise being that the expensiveness of the attorney’s service is based on the value that you will be receiving.
So today’s question is what do you value? Said another way, what do you care about?
In most instances people care about what they are faced with today. So when I ask a prospect about protecting their children’s inheritance from a divorce, the response is typically, “My son has been married for 10 years, and I can’t see them divorcing.” I hope that is true, and they live happily ever after. But as a planner, the future holds strange things, and if I re-ask the question as, “If your son divorces, would you want your ex-daughter-in-law to receive half?” This time the prospect’s response is typically, “no.”
Does this peace of mind add value, though it is not a present concern? I would say yes. Now the value increases if son has a track record of divorces, but regardless, there is value there.
What about protecting a special needs beneficiary, and the support the government provides?
What about protecting against lawsuits, bankruptcy and other creditors?
Are these the types of things that add value to your plan? Again, there is value there. Planning for the future, and hoping not to use is the ideal situation (like your auto insurance – you pay your premiums every year, but hope you never have to submit a claim).
The peace of mind that a properly drafted plan provides is of tremendous value.
Make an appointment today, and let one of our attorneys show you the value we can provide to you.
Contributed by MH Albuquerque, Santa Fe and Las Cruces Estate Planning Attorney, James P. Plitz.
Why Choose Morris Hall:
You have a number of options when it comes to estate planning, so why pick Morris Hall? First off, estate planning and asset protection are a very complicated endeavor and you should only trust someone who focuses exclusively on those matters. Also, MH is a proud member of The American Academy of Estate Planning Attorneys (AAEPA) which provides us additional support, advanced training, tools and information that is not available to others – which means that we can better protect your assets and your loved ones. We are one of only two firms in Arizona that belong to the AAEPA and are the only firm in New Mexico that has been granted membership. If you have assets and loved ones that you want to protect, you are in good hands with MH. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.