Lack of Coordination in Estate Planning Documents & the Potential for Best Laid Plans to Go Awry

Planning for aging (and incapacity) requires more than just the traditional preparation of a Will, durable power of attorney (‘DPOA’”) (and perhaps a revocable trust). The multitude of fiduciary and quasi-fiduciary appointments clients make, almost entirely without professional input, can create conflicts and inconsistencies in the administration of the client’s affairs. Practitioners can provide great assistance to their clients through discussing the importance of coordination of fiduciaries named under primary legal documents. Doing so can forewarn the client of pitfalls that could undermine the safeguards the planning team is endeavoring to create. As estate planning remains extremely relevant in implementing client desires, it’s important for practitioners to evolve and consider a broader range of practical, non-technical considerations that can make their services beneficial to all spheres of client echelons.

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