By George E. Zola

If you could time your death, did you miss an opportunity by not dying in 2009 or will it be better to die in 2010? Should your death be postponed until 2011 and beyond? The answer to this question will depend upon your assets, the built-in capital gains in your assets, and your outlook on life.

They said it could never happen in the good ole’ USA. But Congress successfully imposed retroactive tax increases on those who died between January 1st and October 31st of the year of the inauguration of William Jefferson Clinton. The pundits also said that George W. Bush would be unable to change the then existing tax law. But earthly miracles do happen, estate tax breaks were gradually increased. The “Bush” Estate Tax Act continues today, though all federal estate taxes expired January 1, 2010.

By George E. Zola

Some of my colleagues are having a difficult time answering the basic question, “Who is the client?” As lawyers, we are expected to represent our clients’ interests to the exclusion of all others. This is a basic idea taught in law school. However, with the pressure of meeting billable hour requirements and generation of fees, some lawyers may need a refresher course.  Too often it appears as if lawyers are selling their clients a service or a product which will generate the greatest fee for the attorney rather than exploring less expensive alternatives which will accomplish the same objective.  When faced with doing the proper thing and placing a client’s interests above his or her personal interests, some lawyers are following the lead of some of our elected officials, and are placing their personal interests above the needs of their clients.  If a client cannot rely upon the objectivity of his advisors, he or she may be taken advantage of by someone he trusts.

By George E. Zola

We live in a litigious society. It is not uncommon to sue our doctors, accountants, or lawyers if their level of performance does not meet our expectations. We even sue athletic coaches if our children do not get adequate playing time. It is with some hesitation that I now propose a new cause of action which will clog the courts for years:client malpractice.

Client malpractice is action or inaction by a client during the estate planning process that could make the estate planning lawyer look inept when the client dies. This article will discuss the leading causes of client malpractice in an attempt to reduce the number of occurrences and raise clients’ and children’s opinion of their parents’ lawyer. As of yet, I am unaware of any client malpractice insurance being available but if there is a dollar to be made I am sure someone will be offering it in the future.

By George E. Zola

You have received the bad news that a loved one has died or is dying. Sometimes the news is expected and sometimes it is a shock. It does not matter if the news is expected or not, it will still be a difficult and stressful time for everyone. Hopefully proper planning has occurred; but unfortunately, that may not be the case. The actions you take or do not take may have consequences both financially and emotionally. The following are several items to consider when faced with these circumstances.