I have an Attorney…Everything is taken care of! Is it???
I hear this phrase so much. 99.9% of attorneys DO NOT DO EVERYTHING! Attorneys do legal work. They generally do not have investment or insurance licenses or have knowledge of the tools available or can offer advice on insurance or investments or taxes. As for Estate Planning, several recently graduated attorneys have told me that all they learned about Estate Planning was how to typeset a simple will from a form and how to probate an estate! THERE IS SO MUCH MORE TO ESTATE PLANNING!
Almost everyone needs a will, but also a Power of Attorney for their financial affairs, a Power of Attorney for their medical affairs, a Living Will, and a HIPAA release document that specifies who the doctors/hospitals can release your private information to. Those are the 5 documents that are needed at minimum.
Many people and their heirs could benefit from a Revocable Living Trust or an Irrevocable Life Insurance Trust or one of over 60 different trusts, but 98% of attorneys do not have the expertice or experience to create an efficient document in this area. This takes a special attorney who takes the time to go to classes, seminars, and take specialized courses in this area. IT IS NOT TAUGHT IN THEIR ORIGINAL CLASSES! You want an attorney who spends a majority of his time in this area of practice.
On top of this, there are at least 6 other areas of expertice needed in a Financial/Estate Plan. What I find is that almost everyone tries to orchestrate the plan themselves. They are the center hub. They deal with an insurance advisor for Life Insurance, an accountant/CPA, an insurance advisor for their car/homeowners insurance, an insurance advisor for their Long Term Care insurance/Hospital Insurance, a Financial Consultant (or 2) for their money, possibly a mortgage consultant and others.
Each advisor usually never consulted with the other advisor and usually never askes the person at the hub, the necessarry questions to understand the ENTIRE scope of wants, needs, and goals of the client. This leaves HUGE holes or gaps on the plans of most Americans. These holes or gaps can cause major surprises and headaches for the client and/or their heirs in the future!
Integrity Estate Advisors has solved this problem. We partner with our clients at the hub. We are their coach, their coordinator. We understant each area or spoke in their wheel. We have the resources to help our clients get a comprehensive plan put together, to reduce or eliminate any holes or gaps that cause those unwanted surprises down the road!
So, when I hear someone say, “I have an attorney and everything is taken care of,” I cringe knowing that they most likely don’t and are headed toward a possible “Wake Up Call” down the road.
Most people don’t act until their “Boat Gets Rocked” or something happens to wake them up. I call this “Crisis Management Mode.” When it gets to this point, there is limited options for those people. There is usually more options today, than tomorrow, in Estate Planning, so act now. Contact a qualified advisor. If you don’t know of one, contact us at Integrity Estate Advisors. We have trusted resources for most anything you may need. I have been Certified Senior Advisor, (CSA) trained which that gives me a lot of knowledge and resources to help fullfill the needs of my senior clients, outside the financial aspects of their plans.
Visit our website for more information at: www.IntegrityEstateAdvisors.com Thanks for taking the time to read my thoughts! Make it a GREAT day! -Kevin E. Bock