Perhaps you have seen ads recently...
by non-lawyers (brokerage firms, insurance companies and others) offering estate planning services. Some of the companies offer advice on reducing estate taxes and others even offer forms for you to use. If these institutions offer advice and forms, do you still need us?
Absolutely. The following reasons underscore the importance of seeking advice from a lawyer.
Independence
A lawyer’s role, and, in fact, obligation, is to zealously represent his or her client. This means when you come to us for advice, we will look out for your interest and your interest alone. “Nonlawyers” may not have the same obligation. We do not sell stocks, bonds, annuities or any other investments. The commodities we sell are our time and expertise.
Licensed
Only lawyers are authorized to prepare documents and give legal advice. Any other professional or institution which prepares legal documents is in violation of the unauthorized practice of law statute. The reason for this is that lawyers have special training and are tested for competency before they can render legal advice.
We are also authorized to defend your estate plan in the Federal District Court and Tax Court should the IRS ever challenge any aspects of it. Again, financial institutions are not authorized to practice in these courts.
Customized Advice
Furthermore, it is our job to prepare legal documents to fit your situation. In other words, we tailor our documents to your exact needs. No one estate planning document fits all sizes. Most forms provided by nonlawyers are completed by filling in blanks, and there is little ability to change the documents. Some even contain language holding the preparer harmless for any negligence in preparing the documents and exculpate the institution for making of poor investment decisions.
Preparing an estate plan is a serious matter. You need the advice of a professional whose only goal is to protect you.
