Any Wills and Estates Attorneys Here?
SolidSqual
Posts: 5,218
So, I just went through a pretty morbid, but necessary experience as my parents elected me to be the executor of their will. At any rate, I'm halfway into my first year of law school and am beginning the slow process of deciding what kinds of law I would like to practice. I have other legal interests, however the recent events with my parent's estate has perked my interest.
Reasons to go into Wills and Estates:
First, people will always be dying and will always need to plan who gets all their junk after death.
Second, the pace of this job seems to be on par with someone like a dentist or other medical specialist . . . basically you set your own appointments and pace. This element would be very conducive to having and being an active and available member of a family.
Third, I can already see the spark in the eyes of my older brother and younger sister as they are dividing my parents junk and wealth in their head. I don't like it. This kind of **** splits families and shifts focus away from the loved ones lost. Let me just put this out there, my parents will is not equal despite what they believe. In short, my brother receives the family business. My sister receives, my Mom's jewelry. I receive a third of the remaining estate split among my siblings. Now, I have no problem with the way things are divided. As far as I am concerned, it's my parent's stuff and any benefits I have received past, present or future are all gifts which allow me no entitlements.
Anyway, my point is that I find the process incredibly dynamic and interesting. I think I may gain a lot of satisfaction helping people their estates to best care for their loved ones.
As far as my portion of my parent's will, I intend to give it to charity. I made my way through college and soon law school w/o their financial help. Why start taking their money now? I don't plan on needing it in the future.
So . . . anybody know anything about estate planning? Boring?
Reasons to go into Wills and Estates:
First, people will always be dying and will always need to plan who gets all their junk after death.
Second, the pace of this job seems to be on par with someone like a dentist or other medical specialist . . . basically you set your own appointments and pace. This element would be very conducive to having and being an active and available member of a family.
Third, I can already see the spark in the eyes of my older brother and younger sister as they are dividing my parents junk and wealth in their head. I don't like it. This kind of **** splits families and shifts focus away from the loved ones lost. Let me just put this out there, my parents will is not equal despite what they believe. In short, my brother receives the family business. My sister receives, my Mom's jewelry. I receive a third of the remaining estate split among my siblings. Now, I have no problem with the way things are divided. As far as I am concerned, it's my parent's stuff and any benefits I have received past, present or future are all gifts which allow me no entitlements.
Anyway, my point is that I find the process incredibly dynamic and interesting. I think I may gain a lot of satisfaction helping people their estates to best care for their loved ones.
As far as my portion of my parent's will, I intend to give it to charity. I made my way through college and soon law school w/o their financial help. Why start taking their money now? I don't plan on needing it in the future.
So . . . anybody know anything about estate planning? Boring?
Post edited by SolidSqual on
Comments
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I recently had a will drawn up. My attorney says he really enjoys this type of work. There is little conflict (unlike divorce law) and it gives him an opportunity to really get to know his clients personally.
OH....
One thing I found interesting when talking to the attorney.... sometimes, the greatest asset in an estate results from "how the client died". Example: medical mal-practice, product liability, etc. So, even if you are worth NOTHING... your estate could (potentially) be worth quite a lot after you have died. -
... You don't plan ? ...
As John Lenon said ... Life is what happens while you're busy making other plans ...
If I read your age correctly there's lots of time between now and when your future children are supporting themselves ... All sorts of things could come along to alter your thinking about what you'll need or not ...
As far some practice in the future is concerned, Financial Planning as opposed to Estate Planning ( Wills etc ) are typically done by financial planners ... I would think narrowing the scope at this juncture to wills and other estate planning is too confining and in practice would be boring ... To each his / her own ... -
Thanks for the comments they have all raised good issues.
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Stay away from anything to do with divorces unless you have a heart of stone, are a mindless zombie, or a ****.
They say that dentists have the highest suicide rate.
I don't see how that's possible as long as there are divorce attorneys around.
Estate Planning sounds like it would be a steady, productive route.
Sure, not as exciting as an episode of "Matlock", but you'll be able to look at yourself in the mirror at the end of each day.
...and that's something.
Combine that with Financial Planning, and that sounds like something where you could pick up some BIG money.Sal Palooza -
Smart post, great perspective.
If it's also an interest, you might want to combine it with another specialty like real estate or something similar. It will keep you out of court for the most part, it should keep you fed if you decide to hang out your own shingle. I don't think that Wills and Estates would be enough unless you live down in certain areas of Florida (heavens waiting room).:D-Ignorance is strength - -
SKsolutions wrote: »Smart post, great perspective.
If it's also an interest, you might want to combine it with another specialty like real estate or something similar. It will keep you out of court for the most part, it should keep you fed if you decide to hang out your own shingle. I don't think that Wills and Estates would be enough unless you live down in certain areas of Florida (heavens waiting room).:D
Well actually, my mentor in a group I am affiliated with is an attorney who helps settle disputes with Wills, Trusts and Inheritance. These disputes take place between family members and between the state and the decedent's loved ones. He's always busy . . . mainly because people don't properly setup their Wills or keep them up to date. -
... or more likely ... the contents don't please everyone who has been named or not named in some will ...
... and as all attorneys know ... Everything is negotiable ...
In this way it's not too unlike other family law issues ... While Rome burns the attorney collects fees ... So what's the driving force for the attorney ? ... To resolve the issues between the parties ? ... possibly ... -
Think about elder care law, life estate planning, etc., as these are areas really coming into play as far as "necessity/urgency" is concerned (I have been in contact with the family attorney quite a bit lately for this very thing), given all the changes with Medicaid and all.
Not only the potential for excellent cash flow now (;)), but there's a seriously growing need for qualified people in this field, and it seems like there always will be. Many people are
alarmed when they realize how much long-term care costs are (I know I was), and simply never planned for it.So, are you willing to put forth a little effort or are you happy sitting in your skeptical poo pile?
http://audiomilitia.proboards.com/ -
SolidSqual wrote: »Well actually, my mentor in a group I am affiliated with is an attorney who helps settle disputes with Wills, Trusts and Inheritance. These disputes take place between family members and between the state and the decedent's loved ones. He's always busy . . . mainly because people don't properly setup their Wills or keep them up to date.
A litigator friend, not in our office, does Estate arbitration. He's tired of court, so he digs it and it pays well.-Ignorance is strength -
