May 15, 2014. It should be patently obvious that the estate planning process is personal. Occasionally, it might seem too personal. And as attorneys I think we are mostly aware that some clients will have something they are not telling us, and if they are not telling us something, it likely matters. When these two things are true, we will occasionally get the perfect storm that havocs our precise, efficient little estate plan. The reasons for the omissions vary, occasionally it is embarrassment, or a belief that the information isn’t necessary to share because it is too personal. The missing information is sometimes simply an inaccurate idea of the assets held, failing to mention a piece of realty, or not naming all the other professional advisors the client may work with. However, it can also be more dramatic, such as problems in the marriage, looming debt, issues with the children, or the occasional child on the side. It may not always be easy to ferret out this information, but it is our job to probe, ask the right questions, investigate when the picture is not coming together quite correctly. It starts with fostering trust so the information is naturally disclosed, though occasionally you may have to be blunt as well. After all, the responsibility lies with us at the end of the day. So, what isn't your client telling you?
For more information about estate planning and creating trust with your clients, contact the Goosmann Trust Law Counsel at info@goosmannlaw.com or call 712-226-4000.
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