In December 2010, I decided to survey individuals who had completed the estate planning process. Here are some of the comments people made about the challenges of planning an estate and leaving a legacy to the next generation:
- The process is too complicated to understand.
- Changes in state and federal laws are confusing.
- My advisor left the area and is no longer available. No one from his office has been in contact for years.
- Sometimes it felt like my advisors were in cahoots and weren't necessarily thinking about what was in my best interest
- There hasn't always been a high trust factor with lawyers, accountants, and banks
- When you own your own business, you're dealing with a lot of lawyers and accountants. I don't necessarily like to do this but you have to work with them in order to run a successful business
.... to be continued in tomorrow's post!
