Teamwork is the very foundation of innovation and progress. Teamwork built the pyramids, cured polio, manufactured clothing, automobiles, and homes; made it possible to communicate with those in different cities, states, countries, and safely landed a man on the moon.
Collaboration is the cornerstone of teamwork.
So what does all of this talk about collaboration and teamwork have to do with estate planning?
…Possibly everything. A good estate planning attorney should be able to work well with other professionals in related fields if necessary, in order to achieve their client’s goals.
One of the best examples of this is the estate planning attorney’s relationship with the financial planner. The role of a financial planner is to grow your portfolio. (Greatly simplifying – they manage your investments in hopes of making you money). If your portfolio grows enough, most planners will encourage you to hire an estate planning attorney to protect your increased assets.
While the planner is attempting to grow your money, the estate planning attorney is attempting to protect it from taxes, creditors, incapacity and probate.
Neither financial planning nor estate planning are one-time events. Both require updating as life develops due to changes which occur that affect both. Therefore, having an attorney and financial planner on the same page, can mean implementing those changes quickly and efficiently.
It’s ultimately about relationships. At the end of the day, the goal is to benefit you and you shouldn’t expect any less, because in every way which it’s important for an attorney and planner to work as a cohesive team – it is equally important for you as the client, to be a part of that team.
