Estate Planning Basics by Denis Clifford Attorney (2011)

[warriorofworry]

This book is precisely as advertised – a simple to read, well organized primer on the basic elements of an estate plan.

Each chapter begins with a short overview of the topic to be covered – beneficiaries, children, and wills for example. The language is relatively simple, yet not patronizing.

Within each topic, more concise subheadings introduce a short discussion of that subtopic. None of these are very long, ranging from a single paragraph to a couple of pages. Specialized related topics are discussed in highlighted boxes. Resources for further information – usually Nolo products - are also lined out. 

Nolo’s underlying philosophy is that consumers usually don’t need attorneys. Instead, through fill-in-the-blank forms and checklists (offered, of course, by Nolo online, for a fee), the consumer is told repeatedly that an attorney is unnecessary for “most” estate plan situations. From time to time, the author will opine that a reader with a certain type of problem or needing a specialized kind of legal document needs to see an attorney.

I’m a huge fan of demystifying the law. I believe that legalese isn’t necessary (and that some attorneys use it to appear learned), and that most people can represent themselves or draw up a simple will.  

On the other hand, law is full of pitfalls, even for those of us who passed the bar exam. A consumer who fails to study this very carefully may make a problem, rather than solve one.  A concern for me is that I don’t believe that the information in this book is always sufficient for a consumer to *identify* an issue that could be problematic.

Otherwise, I have only one little quibble with the content. That was the author’s failure to even mention the existence, let along the effect, of Qualified Domestic Relations Orders (QDROs) on the distribution of retirement funds post-divorce.  

 

[Full disclosure: I am an attorney, at least on my better days. One of the things I really liked about this volume was that it covers the same topics as a first-year law student’s probate class, vastly simplified. I’d forgotten how much ground gets covered!]

Comments

[kate_nepveu]

I had the vague impression from my Trusts & Estates class that QDROs were a pretty big deal . . . but it is so not my area of law.

DIY estate planning makes me very nervous just because _you won't be around to fix it_, and there are so many contingencies that people just don't automatically think about. But if it's DIY or nothing, then DIY seems likely to be better.

[warriorofworry]

QDROs have gotten more important as they affect the ultimate estate, since those pension plans are often the biggest asset in a divorce or at death. Otoh, it's a (fast) moving target - it might be different 5 years from now.. .
I really am big on the self-help. But few people have the patience to sit through even a vastly simplified trusts and estates class.

[trent_goulding]

Re: QDROs, I have a divorce case that came to a property agreement at the settlement conference last month, one provision of which was that the parties would use a neutral to draft the necessary QDROs. Sure, opposing counsel or I could do it, but the neutral we're using is an attorney whose entire practice is devoted to drafting and processing QDROs--they've done nothing but that for the last twenty years or so. It's a specialist niche, but apparently it works for them....

[warriorofworry]

Mostly I wouldn't DREAM of constructing a QDRO. We have a firm here that does a great job for (relatively) not much money.
The exceptions: the state government has easy to fill in forms, as do the feds and couple of the larger employers.