This week an old client I hadn't seen or heard from in 9 years called and sheepishly told me he went to see another attorney some years ago and begged me to allow him to return to me for his estate planning. He didn't have to beg, of course I am pleased to see him and told him that repeatedly. He feels he was conned into seeing this other attorney by a financial planner who was after his business. The planner offered a free review of his financials and then insisted on him getting new estate documents with the planner's attorney referral.
Please don't ever allow yourself to feel pressured by any of your advisors. You have the right and the power to ask questions, take your time to consider matters, do your homework and really investigate who you are working with. Ask the advisor if there is a relationship and what the relationship is with any of the referrals made.
As to his "new" documents they aren't bad, but they aren't good either. They contain a lot of boiler plate that is not applicable to him or his situation. The "new" attorney did get him to execute a financial power of attorney which I was never able to get him to create, (good for them) but they also created a revocable trust that was totally unnecessary and serves no legitimate purpose in his plan. I am going to fix things up for him and hopefully the next time he feels pressure to do something, even from me, he asks questions and gets answers.
Stephanie
Please don't ever allow yourself to feel pressured by any of your advisors. You have the right and the power to ask questions, take your time to consider matters, do your homework and really investigate who you are working with. Ask the advisor if there is a relationship and what the relationship is with any of the referrals made.
As to his "new" documents they aren't bad, but they aren't good either. They contain a lot of boiler plate that is not applicable to him or his situation. The "new" attorney did get him to execute a financial power of attorney which I was never able to get him to create, (good for them) but they also created a revocable trust that was totally unnecessary and serves no legitimate purpose in his plan. I am going to fix things up for him and hopefully the next time he feels pressure to do something, even from me, he asks questions and gets answers.
Stephanie
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