By Steven J. Oshins, Esq., AEP (Distinguished) People sometimes talk about so-called “bloodline trusts” – trusts that specifically disinherit anyone and everyone who doesn’t share the blood of the settlor. Although in theory this sounds like a great idea, it actually isn’t. The problem is that it often cuts out the wrong people. This article focuses on two specific problems with bloodline trusts. The Worst Problem of All The worst problem is the assumption that adopted children should be treated as though they are strangers. The best way to describe this travesty is by example. Assume that Client sets up…
Stop the Constant Fire Drills and Chaos at the Office with This Simple, But Effective Tip!
By Kristina Schneider, Practice Success Coach A recurring theme that I continually see coming up for estate planning attorneys that I speak with is this overwhelming stress that they’re feeling like every single day feels like they’re just constantly putting out fires and everything is in chaos and disarray. When you are so busy in this reactive mode, it can be extremely difficult to know how to get out of it. You become too consumed with being in the deep trenches of working in your business to have enough time, let alone a breath of fresh air, to even begin…
Clearing the Bubble—The Transition To Fixed Fees
By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law In the past, I have emphasized and reemphasized the advantages of utilizing a fixed fee structure rather than an hourly billing system. Here’s just a few of the main advantages for a fixed fee structure: Fixed fees avoid the need to maintain hourly records and keep track of every moment of your time. Fixed fees avoid having to go through the effort of preparing, reviewing and sending out billings. Fixed fees avoid you having to be a bill collector,…