Spring is here and warmer temperatures provide the perfect setting for picnics, spring training baseball, hiking and many other outdoor activities! Weekends also give way to neighbors rolling up the garage doors and pulling out tables, filling them with items for sale.
It can be interesting to peruse through other people’s items that are no longer wanted. You can find most anything like used golf clubs, baby clothes and even power tools. However, there is one item that you most likely will not find on the tables - another person’s estate plan.
That would be an interesting proposition. You spot a binder, or paper documents in a nice, neat stack. The owner says: “Isn’t it nice? Just replace our name with yours, and you will have a great estate plan! I am asking five bucks for it!” I don’t think anyone would purchase it no matter how cheap the price.
This may seem like a ridiculous notion. However, many estate planners and document providers are asking you to do just that. Simply replacing one name for another without recognizing that each individual has different wishes, desires, assets and beneficiaries. A true estate plan should take this into account. Your own estate plan should be drafted by an experienced and trained estate planning attorney, who understands what questions to ask and who can truly craft an estate plan that meets your individual needs. Such a person will not assume that one size fits all.
Buying another person’s coffee table is a great way to save money and recycle, but your own estate plan should never contain the leftovers of another.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. 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.