Want to See Me Boil Over? Show Me This Type of Attorney Bio!
When scrolling through attorney bios, it’s common to find a list of practice areas as long as my arm. Real estate, corporate law, civil litigation, mergers & acquisitions, and estate planning, all neatly piled under one name. This isn't a firm boasting about its diverse team's expertise; it's often just one attorney claiming mastery over what should each be full-time careers on their own. With estate planning tacked on at the end, like some sort of afterthought! Show me that bio and I’ll show you a liar. Immediately I feel the steam start to rise up!
Here's why this drives me bananas:
The Myth of the Jack-of-All-Trades Lawyer:
The legal profession is not one where surface-level knowledge suffices—especially not in estate planning. Deep, specialized knowledge borne from years of focused practice is crucial. I began my career as a general practitioner but soon realized that mastering estate planning required undivided attention and continuous education. This transition was driven by the understanding that one cannot possibly maintain expertise across multiple, unrelated legal fields. Maybe you can combine some other fields of law together, but not sophisticated estate and elder planning. It’s too specific and ever-changing.
The Risks of Non-Specialized Estate Planning:
Non-specialized practitioners can overlook crucial details that a specialist would catch. It’s not malicious; it’s a lack of specialized knowledge. Most attorneys are just trying to help, but without the right knowledge, they can do more harm than good. Consider a case where a general practitioner failed to update an estate plan following tax law changes. This oversight led to the client's family facing a substantial, unexpected tax liability, which could have been mitigated with proper planning.
I’ve seen it way too many times. A few months ago I had a case where a general practitioner set up a trust intended to protect a client's assets but missed critical nuances specific to protecting the assets. The resulting legal challenges not only diminished the trust’s value but also caused family discord and a huge price tag to fix everything that was done wrong – it costs about twice as much as just doing it right the first time!
The Importance of Specialized Knowledge:
As an estate planning specialist, I dedicate countless hours to seminars and research to stay ahead of legal changes and complex strategies. This isn't just professional growth; it's a commitment to my clients' security and peace of mind.
Another poignant example involved a generalist who did not properly update beneficiary designations post-divorce. The oversight led to the ex-spouse unintentionally receiving benefits meant for the children, because she was their guardian, sparking disputes and legal battles that could have been avoided with diligent, specialized attention.
Advanced Strategies in Estate Planning:
Understanding and applying advanced strategies, such as Charitable Remainder Trusts, Irrevocable Life Insurance Trusts, and Special Needs Trusts, require an in-depth knowledge that generalists typically lack. Each of these tools serves specific purposes, from tax savings to asset protection, and improper handling can lead to severe financial and legal repercussions.
I had a recent case involving a poorly structured Special Needs Trust by a non-specialist led to significant penalties – all of her inheritance was deemed a “countable asset” and she lost government benefits she should have been eligible for. This complex tool was mishandled due to a lack of understanding of its intricacies.
But the MOST common error I see from non-specialists is attempting to create trusts to protect the client’s primary home from long-term care liens. This is flubbed constantly by non-experts! Clients think their home is protected, only to find out from me that their trust provides no long-term care protection whatsoever. It’s news that I really hate delivering, but I’d say I deliver it once a week! Sadly, when I deliver this news, there are often tears involved. The good news is that most of the time I can fix the problem.
If you think your trust protects your home, I urge you to have it reviewed by a specialist to be sure.
How to Identify a True Estate Planning Specialist:
When you’re looking for someone to trust with the future of your family and your legacy, don’t be dazzled by a long list of practice areas. Look for clear indications of specialization. Does the attorney have published books or materials? Do they speak at seminars on specific estate planning topics? These are your clues that they’re the real deal.
Specializing in estate planning isn't something that happens overnight—it requires years of focused education, continual learning, and hands-on experience. Estate planning laws and tax regulations are constantly evolving, and staying current demands attending multiple seminars, completing advanced certifications, and dedicating countless hours to studying new developments. I spend a significant portion of my time each year simply learning and updating my knowledge to ensure my clients receive the best advice possible. This is why it's impossible to truly specialize in so many areas of law at once—there just isn’t enough time in the day to master the complexities of estate planning while simultaneously keeping up with other demanding fields like corporate law or litigation. The dedication required to truly specialize means making a choice to focus on one area, and that’s what I’ve done with estate planning
You want a specialist doing this work for you. If an attorney who did your divorce, or your DUI, or your real estate closing is also doing your specialized trust, you should reconsider. You won’t see me in criminal court today and then probate court tomorrow – I know what I know, and I know what I don’t know. My attorney colleagues agree with me – that’s why we refer cases to each other, in each attorney’s field of expertise.
The value of specializing in estate planning cannot be overstated. Choosing a specialist over a generalist ensures you receive informed, up-to-date, and strategic legal advice tailored to your unique needs
Don’t risk your family’s future with inadequate estate planning. Let’s talk about how truly specialized estate planning can secure your family’s future. Start by attending one of our info-packed free seminars and see the difference expertise makes.
