During the traditional experience, you’ll go in and meet with a lawyer who will oftentimes make things seem very complicated and confusing. Because you want to do the right thing for your family and for your business, you’ll have the lawyer prepare documents for you and you’ll sign the documents, feeling relieved you got THAT taken care of.
You might remember your lawyer said something about moving your bank accounts into your trust so you’ll go to the bank, forget what you were supposed to do, call your lawyer’s office, get a voicemail, have to leave the bank and wait for a call back, (which takes several hours at least and sometimes days) and by that time, you’ll have gotten busy with other things and never get around to moving that bank account. Later, you’ll get a bill in the mail for $67.50 for 15 minutes of your lawyer’s time for answering a couple of questions. You’ll make a mental note– don’t call lawyer ever again.
Several years later, you’ll refinance your house or sell it and buy a new one and forget that you were supposed to let your lawyer know or make sure you kept the title in the name of the trust. Your children will get older, making your guardianship choices outdated, but you don’t want to call your lawyer because you know you’ll get a bill in the mail two weeks later.
It’s not until you become incapacitated or die and your family finds the binder you stuck up on a shelf several years before and never looked at again, that they’ll realize your plan is so outdated that it has nothing to do with your life, your assets and the law.
Your family is at a loss. They don’t know where to turn or what to do, so they contact the same lawyer you used to prepare the documents, who is as happy as can be to probate your assets, which never made it into the trust.
Unfortunately, the legal industry was not designed to serve growing families who experience lots of change on their way to success. It was designed to serve 70 and 80 year olds who were preparing for death. Business lawyers are for the most part simply incorporating businesses, but not truly and proactively advising them during the process of growth. We are here to change this. Today. Right Now.