Do you have a Will?

[rageeumr]

My wife and I had ours made when our son was born. Both of her parents were lawyers so it was really easy (and free).

[Inspector]

You can't have any of my dough Jenson - if that's what you're thinking.

[Jenson71]

Originally Posted by Inspector

You can't have any of my dough Jenson - if that's what you're thinking.

Nope, nope. I just have a Trusts and Estates class, and we've talked about different ways of dividing assets up to further generations. Let's say you outlive your sons, or some of them, unfortunately. Just wondering if the attorney you dealt with talked about dividing your assets up equally among the families (20% plain and simple) or equally among the generations, if you get what I'm saying.

[Amnorix]

Originally Posted by Jenson71

Nope, nope. I just have a Trusts and Estates class, and we've talked about different ways of dividing assets up to further generations. Let's say you outlive your sons, or some of them, unfortunately. Just wondering if the attorney you dealt with talked about dividing your assets up equally among the families (20% plain and simple) or equally among the generations, if you get what I'm saying.

Ah yes. Per stirpes and per capita. Good times...

[Jenson71]

Originally Posted by Amnorix

Ah yes. Per stirpes and per capita. Good times...

You know it. My professor is an associate reporter for the Uniform Probate Code, so we get a pretty convincing overview of the worth of distribution per capita under the UPC.

[luv]

Originally Posted by Jenson71

Nope, nope. I just have a Trusts and Estates class, and we've talked about different ways of dividing assets up to further generations. Let's say you outlive your sons, or some of them, unfortunately. Just wondering if the attorney you dealt with talked about dividing your assets up equally among the families (20% plain and simple) or equally among the generations, if you get what I'm saying.

You mean per capita or per stirpes?

[Jenson71]

Originally Posted by luv

You mean per capita or per stirpes?

Yeah. There are a few different patterns, but the per capita at each generation seems to be a version that clients more often prefer after knowing all possibilities.

[luv]

Originally Posted by Jenson71

Yeah. There are a few different patterns, but the per capita at each generation seems to be a version that clients more often prefer after knowing all possibilities.

I've only been doing this (paperwork-wise) a few months, but I've found that a majority of ours are the typical:

To spouse, unless spouse predeceases. Then equally among children. If any of the children predecease, then their share goes to their children per stirpes.

[Inspector]

Whichever of us is last to croak - my wife or I - will ensure we keep it up to date with any changes that need to be made if needed. If one of our sons go before us, we would still ensure their wife and kids would get that share. Our sons are all in their 30's and 40's and a couple of them have kids (5 grandkids) but each family will get that 20% of our assets. I don't believe there is anything set up to make changes automatically in the event of one kid passing before us or not - I think that is something we would have to take care of if it actually happened.

But, like I said, it was along time ago. Each kid has a copy but I haven't looked at it since it's creation. I can't remember what I had for breakfast yesterday either.

Good luck on your career.

[Jenson71]

Also, what would you all think of a TV or radio commercial that advertised estate planning? Do you think that is kind of a desperate move (like personal injury lawyer ads) or a useful approach to helping start a quality estate planning firm?

[blaise]

Originally Posted by Jenson71

Also, what would you all think of a TV or radio commercial that advertised estate planning? Do you think that is kind of a desperate move (like personal injury lawyer ads) or a useful approach to helping start a quality estate planning firm?

I don't think there's anything wrong with it. It's offering people a useful service that they may not realize they want until they see the advertisement.

[Jenson71]

Originally Posted by blaise

I don't think there's anything wrong with it. It's offering people a useful service that they may not realize they want until they see the advertisement.

Okay, good. I'm not inclined to advertise on TV, but I figure at least at the beginning of a career, it can be helpful while you establish word of mouth reputation and reputation with other lawyers who can refer others to your office.

[rageeumr]

Originally Posted by Jenson71

Also, what would you all think of a TV or radio commercial that advertised estate planning? Do you think that is kind of a desperate move (like personal injury lawyer ads) or a useful approach to helping start a quality estate planning firm?

There's a dude that advertises on 810. Regular spots as well as live reads by Kietzman. It's effective enough that I remember his name, even though I already have a will. I'm guessing the spots have a pretty decent ROI for him.

[luv]

Originally Posted by Jenson71

Also, what would you all think of a TV or radio commercial that advertised estate planning? Do you think that is kind of a desperate move (like personal injury lawyer ads) or a useful approach to helping start a quality estate planning firm?

I would tend to shy away from TV advertising. JMO. We have a couple here who do it for estate planning, and I think it's kind of creepy. I don't really see any other way of getting your name out there until you get well established in your community, though. We get most of our business from referrals (whether from clients or other attorneys in the area), or we have a website.

[MOhillbilly]

I will never die.