Planning Briefs

At a class for professionals, L. Paul Hood, Jr., one of the nation’s leading estate planning educators of lawyers, accountants, and financial advisors, recently identified all the things that can go wrong with an estate plan. It’s a lot! For individuals facing estate plan questions, here are some important considerations.

The players involved in creating an estate plan include you, the client, of course. But you will probably need to work with two or three advisors, and they must be coordinated with each other. And then there are your beneficiaries –and those who believe themselves to be beneficiaries but are not, loved ones and charitable causes you want to support after your death. The interaction of the players creates opportunity for confusion, misunderstanding, personality conflict and the array of things that can go wrong in human interaction.