Monday, June 15, 2009 You Get What You Pay ForWe have all heard the expression “You get what you pay for”. This is often heard when some item that was purchased breaks before it should. It stands for the reason that it broke, and leaves us wishing that we had purchased the higher quality product from the beginning. In the end, you end up paying more than even the higher priced item, as you have also bought the lower priced item that just failed.
I believe that this concept is alive and well in many aspects of life, but especially in the area of estate planning. Clients go to attorneys to discuss their estate planning needs, and many people think that all attorneys are the same. They all passed the same bar exam, right? Well, just like a car, while all cars have four wheels, they don’t all go the distance.
In my practice, I often see estate plans that are not comprehensive plans, and are not the result of in-depth consultations and discussions with clients. Make sure that all of your needs are addressed, and your plan is personalized for you. As no two families are alike, no two estate plans should be alike either. You must demand a comprehensive estate plan, so that it will go the distance. Remember, you may not be here to fix it by the time it fails. |