Musings and Counsel from London Baker Law

I’m always honored when people are inspired by my having gone to law school and point out someone who was there with me who had big hurdles to overcome to get where they wanted to be. If you want something badly enough, it can happen.

Planning is about taking care of your family later. Sometimes people disinherit family members, and that can be tough.

How does each work? What is the purpose of each?

First, decide it’s time. Then pull together everything you own, tangible, intangible and then decide who you want to have represent you for possibilities while you’re alive (financial, health) and for after you pass.

When a person gets one second after midnight on their 18th birthday – it’s time. It doesn’t matter if you think you own anything, it matters most at this point to appoint someone to help with finances and health if need be – powers of attorney and advanced health directives, and a Last Will is a good thing since we’re never promised tomorrow.

My previous career was in life coaching – asking difficult questions and helping people answer them. This capacity is very helpful in my legal practice as there are often questions that need to be asked that can appear threatening to the person being asked – do I choose this child or that child or someone not related. I’m able to ask with empathy, diminishing the scariness of the question.

I always wanted to be a doctor – thinking medical. Almost 50 years to the day of my high school graduation I became a doctor, albeit a doctor of law.

What’s the difference? When does each come into play?

These are difficult conversations that need to be had.

Planning needs to be done and done right, because we really can never know when we’ll leave this earth. To work with an attorney is to be sure the right questions are asked. It’s to be properly informed by a practitioner instead of by your neighbor or the opinions of friends who aren’t attorneys. Attorneys help people think and make better choices.

DIY Wills? I do appreciate the temptation to DIY AND strongly advise against it for fear the document created will not do the job when it’s needed. Living Wills Living Wills are documents people prepare for when the end of life is approaching – it provides a place to indicate choices about treatment or not and at what stage treatment ends. It’s an essential document to help the person dying do so...

About a Minor Child My practice is to recommend a Revocable Living Trust so that a child’s inheritance can be safe-guarded if the child is inline to inherit before they are legally able to inherit money on their 18th birthday, and after 18 if a parent doesn’t want to trust them with assets that young. Contesting a Will First thing I would tell someone is “I chose estate planning and probate to nev...

Your Last Will and Testament is the catch-all documents for any part of an estate that may have slipped through the cracks while planning to avoid probate. It also serves as a place holder if there is some type of lawsuit that needs a place to deposit funds after someone passes – personal injury, malpractice.

My recommendation with minor children is always a trust given that most wouldn’t have trusted themselves with substantial money when they were 18.  Trusts also allow for parents to determine at what age a child would receive money and what for.

I’ve always been honest and direct – some might say ‘brutally honest.’  People who know my depend on me for this.  I’m honest because I care.  My intuition and compassion help in making difficult decisions/confronting difficult situations.

People die unexpectedly.  People deteriorate gradually without it being notice. People don’t have plans in place to mitigate what happens in either of these situations.  The horror of them can be mitigated.  Part of the reason planning is not done is, generally, we can’t imagine being sick or dying.

An estate is any asset a person owns.  Probate is necessary when any asset is only owned in the name of an individual without a beneficiary designation.  A Trust will, when done correctly, keep assets out of Probate.

This can be done – through direct financial gifts indicated in a will or through pet trusts.  That it can be done is helpful to pet owners who are concerned about what happens if they pass before their animals.

I appreciate the temptation to do this.  As you’ll hear, it can go badly.  Best to hire an attorney or at least have an attorney review what you created.

When people ask me this, I tell them I don’t handle this.  My conversation would be ‘what has you want to do this’?  Answering “it’s the principle of the thing” is valid.  It’s a personal choice. It’s expensive, there’s no promise of success, it’s emotionally draining.  And, I can refer you to someone who does litigation.

Trustees have specific responsibilities – and it’s important to choose the right person. About speaking to an attorney – absolutely if you own anything and want to be sure it gets to the right person when you pass.

One of my favorite learnings from school was the phrase “it depends”. For me Trusts are when there are minor children, disabled children or adults, and people who might need government benefits. That being said, it still depends.

People talk about being too old…Not if you really want to do something.

Coaching was what I did before becoming a lawyer…it serves the legal practice and being an attorney was/is a walk of faith and a way to be of service.

It’s an interesting question I like to answer.