A North Star in Estate Planning

 A North Star in Estate Planning

December 24, 2020

By Melinda Gustafson Gervasi

Estate planning attorneys spend a lot of time listening to their clients, or at least they should.  I use a flat-fee system with my estate planning clients. Doing so gives them the freedom to talk without one eye on the clock, fearful of the almighty billable hour.  And talk they do.  Telling one story here, expressing a concern there, circling back to a fact they overlooked.  During our first meeting to talk I have a completed client questionnaire, but the conversation breathes much more life into the clients wishes than a few sheets of paper.

Quite often a client will open up to me which allows me to see that the client has several priorities.  This can be problematic.  Priority, defined means one thing is more important than other things.  When you have multiple priorities in estate planning the path to final documents can be convoluted, overwhelming, and sometimes impassable. When this situation develops in a meeting I mention the role of a North Star.

The North Star, also known as Polaris, has been used as a navigational tool since antiquity.  It is said that when you locate the North Star, you know where you are headed.  Finding your "North Star" when doing an estate plan forces you to isolate what is most important, and guide you towards that point.

From "simplicity" to "dead hand control" to "tax efficiency" there are many motivators behind a client updating or creating an estate plan.  From my side of the desk, narrowing the focus to one top priority often allows a plan to unfold neatly for a client.  This may be the difference between a client growing frustrated and giving up and a client smoothly sailing to a final meeting to sign an estate plan.

Thank you for reading.  A blog is meant to spark conversation, and should not be taken as legal advice.  Please work with a licensed attorney in your area for advice specific to your situation.