Even with comprehensive estate planning and full preparation, estate/trust administration is still a lot of work. Remember the It takes a village perspective and get help. When it comes to estate administration, dont go it alone.

Consider this example:

Marshall was diagnosed with pancreatic cancer in January; it was an advanced case. The prognosis was a few months.

Estate Planning Attorney

After a few days of adjustment, he called his estate planning attorney and updated his estate plan.

Although he had a good plan in place, 5 years had passed since he had last updated and he wanted to be sure all documents were up-to-date with the law and his current finances and goals.

Because of conversations with his estate planning attorney, he new that sometimes powers of attorney arent honored if theyre not recent; so, in addition, to updating his other documents, he updated his financial powers of attorney.

Family

Marshall, a long-time divorcee, had two grown daughters, who lived out of state. He called them and they flew in and met with the bank, the estate planning lawyer, the primary care physician, and the hospice team.

They asked questions, reminisced about growing up, laughed, cried, and told each other that they loved each other.

Please continue reading Estate Administration: Dont Go It Alone (Part 2 of 2.)

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Thanks again.

Dennis D. Duffy

Duffy Law Office, PLLC