Many times when new clients call my office, they know they need legal help planning for their heirs, but really have no idea where to start. The legal profession, like any other, has generalists and specialists. And depending on the type and size of the firm you contact, and the complexity of your questions, you may be able to have “one-stop shopping” or you may need to work with several different lawyers or firms.
I’ve distilled a lot of the “start-up” questions I get into these general guidelines.
Family Law and Estate Planning – Is There a Difference?
Many family lawyers practice estate planning and vice-versa, but they are really two distinct areas of the law. Family lawyers negotiate separations, divorces, and custody issues. Trust and Estate lawyers help create a plan for your family if you are incapacitated or pass away, and step in after a death to administer the details of the estate, including trusts and probate.
Pre-nups: A Blended Family Reality:
Although many people are reluctant to consider the end of a marriage prior to taking their vows, in the age of blended families, marital agreements are becoming more common and essential. For either a pre- or post-nup, I urge my clients to work with a family lawyer. This is because marital agreements state what property belongs to whom and what happens in case of divorce. They are contingency plans for the living. They do not completely address what happens if you’re incapacitated or if you pass away. However, marital agreements are an important part of estate planning because they clearly establish what is separate property and what is community property. If you are considering a marital agreement, keep in mind you can bequeath or gift 100% of your separate property and 50% of your community property.
Sharing is Caring: How Many Lawyers do We Need?
Obviously, in a divorce, both sides will seek separate legal counsel. This is also the case for the creation of marital agreements. You and your partner both need your own counsel. However, in estate planning, the lawyer typically represents both of you at the same time, with your consent of the dual representation and your waiver that you have no conflict in what you want to do with your estates.
Some people choose to work with a large firm that offers a variety of legal services. Other clients find that the complexity or size of their estate demands specialized help. In my practice, I focus solely on estate planning and refer clients to family lawyers if they need to draft marital agreements. I find this allows me to give you the best estate planning advice and create a plan that is truly customized to your needs.