Whether the problem is creating an estate plan that works, or achieving smooth, vertical exit from a business, the solution is the same:

1. Start with mutual education in which the lawyer teaches the client about the law, and the client teaches the lawyer about the family or the business.
2. Have a clear process for gathering additional information, defining the specific challenges, and reviewing and deciding on options.
3. Build a team of trusted advisors.  Every plan will have personal, legal, financial, and tax aspects.  It is important that information and advice be available in all important areas.
4. Understand that the document – be it a will, a trust, a buy-sell agreement, or something else – is not the solution.  The document is only a tool that the team uses to produce the desired results.
5. Integrate the legal and financial aspects of the plan.  This may involve re-titling assets, or buying insurance, but in every plan some financial work needs to be done, even if it is only a review of the existing plan.
6. Train the successors.  In a business situation, this may be the family members or partners or employees who will take over.  In estate planning, it involves training trustees and personal representatives.  In either case, the training should be completed before the transition.
7. Understand from the beginning that the plan will need to be updated to deal with the bedrock principle that Things Change.

In my practice, the process starts with a free meeting, or with a free class.  Either can be scheduled by calling 617-624-3350. You can also register by clicking Schedule a Class on the Home Page.