Legal bloopers and a caution

People who enjoy what they are doing invariably do it well.

- Joe Gibbs

I’d like to start your day or week (or whenever you get this) with a great list of legal bloopers, compiled by another lawyer (ahem). Thanks to the Wealth Counsel for the tip on this one.

Just be thankful when you read this that we don’t rely on computer spell check for your documents–and I’ve also got a quick word of advice for you, in my Weekly Note.

First the funny stuff…

1. The descendant died November 12, 2009 [instead of "decedent."]

2. Enclosed are the singed documents [instead of "signed."]

3. The will singing is scheduled for next Wednesday.

4. Our invoice includes coping charges.

5. There will be a martial deduction for gifts to the spouse.

6. We found a joint with your parents’ names on it [should have said "joint account."]

7. Before you proceed with your weeding plans, I recommend a prenuptial agreement.

8. Enclosed is my resent invoice ["I DO resent having to rebill!"]

9. Contact your account manger.

10. Be sure your assets are properly tilted.

11. The trial court rued against the defendant.

12. The remainder will be distributed to your descendants per stripes.

13. See if you can get her agreement in writhing.

14. Thank you for your incite on this matter.

15. This lawyer may be sued for probate matters [instead of "used."]

16. Let’s discuss your estate planning potions [instead of "options."]

17. We need to know the accursed interest on the above bank account to date of death

[instead of "accrued."]

18. We need to get a permanent injection [instead of "injunction."]

“Straight Talk” Personal Strategy

Another Issue With “No Estate Tax”

The current environment with no estate tax seems to be causing a bunch of unintended consequences (as if that’s a surprise!). Here’s another…

A standard estate plan for a married couple, put together by many advisors, uses “A-B” trusts. Upon the death of the first spouse, the single trust is split into the decedent’s trust and the survivor’s trust. The amount in the decedent’s trust is usually equal to the federal estate tax exemption. The remaining assets go to the survivor’s trust for the surviving spouse’s benefit.

The problem with this setup in 2010 is that a deceased spouse may unintentionally give the surviving spouse nothing. With no federal estate tax, all assets pass to the decedent’s trust, leaving nothing for the survivor’s trust. The decedent’s trust most likely benefits the surviving spouse, but probably has many more restrictions than the survivor’s trust.

For example, the surviving spouse may only be an income beneficiary with the remainder going to the children. This setup can also cause a couple to pay more state estate taxes than necessary.

That’s why it’s important that we schedule a review of your current plan, because even though the estate tax is sure to change, there are so many other aspects of your plan which are affected by our environment. Don’t be caught by surprise!

I’m personally dedicated to the success of your family– and your state of mind! Can other lawyers say that?