Wealth Law Blog : Oregon Asset Protection Lawyers & Attorneys : Samuels Yoelin Kantor Seymour & Spinrad Law Firm : OR Estate Planning, Fiduciary Litigation

Who doesn't know at least one horrible and/or inappropriate joke about an attorney?  We don't exactly have the best publicity going for us.  But when you need an attorney you need A Good One - because if you cut corners and don't get a good estate planner at the outset, your estate may end up paying significantly more to litigate estate matters once you are gone.   

Sheila M. Blackford, the Practice Management Advisor for the Oregon State Bar Professional Liability Fund, has some excellent tips for the client and attorney to start the relationship off on the right foot: 

Start with clarity up front. Discuss key things at the initial client meeting:

1. Client objectives in getting a lawyer for the situation;
2. Legal process to go through;
3. Range of possible outcomes with risks affecting success;
4. Information that still needs to be gathered;
5. Method of charging and billing for legal services; and
6. Realistic estimate of how long the process may be and how much the legal fees and costs may be, based upon the present facts as discussed between attorney and client.

Communication remains key not only at the onset of an attorney-client relationship, but also throughout the legal representation. While estate or fiduciary planning requires a knowledge of family dynamics and personal goals that takes time to develop, it is well worth the efforts to avoid adverse tax or litigation expenses down the road.
 

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The State of Washington recently provided more protection through ESSB 6202 to vulnerable adults - and more incentive for financial institutions to be proactive - wherein financial institutions are allowed to refuse transactions when there is a reasonable belief that financial exploitation of a vulnerable adult may have occurred or was or is being attempted.  The financial institution, without liability, may notify in writing all depositors, beneficiaries, or other persons claiming an interest and withhold payment until written consent from all interested parties is obtained or the court directs payment.   

Financial institutions must provide employee training on financial exploitation of vulnerable adults and the institutions and employees are immune from civil liability for certain good faith acts in response to suspected abuse. 

"Financial institutions" includes broker-dealers and investment advisers.

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Is this where my future as a fiduciary, trust, and estate litigator is headed?  Do I need to get an agent and print up some 8 X 10 glossy publicity photos?  

Recently a casting call was issued in the New York area for a new reality series called "Estate Wars."  While I am simultaneously offended and excited about the concept, I'll let you form your own opinion as you read through the casting call:  

"Are YOU and YOUR RELATIVES arguing over a loved one’s Will? Do you need help resolving family conflicts and evaluating the worth of objects in the Estate?

Was your loved one’s Will vague– who should get what -- and you and your relatives can’t agree, we want to hear from you!!!

The Production Company behind “LA Ink” and “Storm Chasers” is casting real families in a life-changing new series.

Almost all family members MUST reside in the NY Tri-State Area and there must be objects of interest and varying degrees of value in the Estate."

Not only will we settle your estate nightmare, but you will receive compensation upon being a part of the show

Having been professionally involved in many family battles over money, power, and which child was the favored one while mom or dad was alive, I am morbidly curious to see how this show plays out.  Stay tuned. 

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(Click Image To Launch Video)

SYKS&S partners Victoria Blachly and Jeff Cheyne were recently interviewed by reporter Kerry Tomlinson for a KATU-TV (ABC affiliate) news story about “virtual assets” such as internet domain names, online content such as photos and videos, and personal accounts for email, banking, brokerage and social media sites such as Facebook. Increasingly, personal information and content is being stored online — and few people know what happens to these assets when a person becomes incapacitated or dies.

In other words, who can gain access to our “virtual existence” when we’re gone?

As previously discussed in a two-part “Estate Planning and Virtual Assets” blog post by SYKS&S partner Michael Walker, the answer can be quite complex. For more detailed information, read Part I and Part II of Michael’s post. You can also view the KATU-TV story on the station’s website. 

As part of the KATU-TV news segment, our estate planning team prepared avirtual assets checklist, which is posted on KATU.com. 
 

Also in the news… partner Steve Seymour was quoted in a recent Portland Business Journal article about the Oregon State Bar’s proposed mandatory mentoring program for new attorneys. The state bar’s mentoring committee is drafting a proposal that could be in place as soon as May 2011.

SYKS&S already has an organized mentoring program in place for new attorneys joining the firm.
 

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