“You've gotta ask yourself a question: ‘Do I feel lucky?’”

No doubt about it, it’s been another rough year for most of us financially. And as we gather our tax forms and anxiously look forward to refunds, we are understanding the appeal of the present value of money. It feels better to have the money now, in our accounts, than to think of it stashed away somewhere else for some other amorphous time. I get it; believe me, I really, really get it. But here’s the thing: we know better!

Right? I mean, we know we should be passing by Starbucks, but we succumb to its siren song (or maybe that’s just me). We know we should stay home and come up with some really crafty way to entertain our preschoolers on the weekend, but a matinee complete with popcorn and a slushie feels better (or maybe that's just my husband). Sometimes those forced savings plans are what are most effective to keep us safe from ourselves!


So I understand why so many of my friends and prospective clients are not so keen on spending a good chunk o’ hard-earned change on a comprehensive estate plan these days. It’s just not in the budget. There’s no line item in there for it, so you push it down the to-do list into the “when we can” category. Or perhaps you choose a less comprehensive plan (like a will-based instead of a trust-based plan, for now) or maybe you try your luck with a cheapie Do-It-Yourself (DIY) version. (Buyer beware!) If you think about it, you know it’s clearly more important to have a solid estate plan in place for your family, but buying birthday presents for all ten of your two children’s playmates' birthday parties is more urgent. And getting a haircut and going out for dinner and paying a sitter are definitely more fun.

What it comes down to is this: “You’ve gotta ask yourself a question: ‘Do I feel lucky?” You probably have auto insurance, and you hope you won’t need to use it anytime soon. You probably have homeowner’s or renter’s insurance, and hope you won’t ever need it. Then there’s that life insurance policy you know you need to protect your family just in case, and the disability insurance because statistically that's more likely to happen than a premature death. If you’re like me, you have a whole host of other insurance policies too– like the personal articles policy we were glad to have when my husband’s wedding band went flying off his finger into the bay as he was playing football on jet skis with his brother on our first anniversary. Let's not even get started on health insurance. Then there’s my business owner’s insurance, my errors and omissions (i.e. malpractice) insurance, and then… there’s my estate plan.

Our estate plan is the most important insurance policy my husband and I have to protect ourselves, one another, and our three children should anything ever happen to either or both of us. Think of an estate plan as a sort of cheap umbrella insurance policy for everything you value and on everything you own. Compared to the emotional suffering your loved ones might pay, the premiums you pay on all the other insurance types, and what you risk forking over to the government in state and federal taxes instead of passing on to your loved ones (more of you than you think!) hiring a qualified attorney to prepare your estate plan is a seriously wise investment in your family’s financial and emotional security. And if you doubt that, just check out the actual numbers. You'll see it’s silly not to!

Sure, we’re young (not as young as we used to be, but relatively!), we’re healthy (tired, but in really good shape all things considered), and we have no plans to leave this earth any time soon. In fact, our motivation for doing everything we possibly can to stick around (our three and five-year-old and five-month-old daughters) is powerfully strong. But we know we're not immune to the stuff that can happen. So we’ve taken the time to make sure the people we want to come to our kids’ rescue should anything ever happen to us are the ones who will. And we’ve ensured that the people who know and love us and understand our wishes are the ones who will articulate those wishes and make medical decisions for us if we are ever unable to do so ourselves during our lifetimes, and so on... We do feel lucky, but we're also aware that no one ever knows how long her or his luck will hold out. So how about you, do you feel lucky? “Well do ya, punk?”

Twitterview: The Attorney-Mama Behind the Tweets

In case you missed it, here now for your reading pleasure is the complete text of my Twitterview with Lance Godard for 22 Tweets (@22Twts) Real-time Twitter interviews with practicing lawyers who tweet: http://22tweets.com/index.php/2010/01/26/dgvelaw/

Today we’re tweeting with @dgvelaw, a Massachusetts lawyer who helps people add to, protect, and move their families

1. @dgvelaw thank you for joining us today on Twitter. Tell us: who is @dgvelaw?


Thanks for having me - very excited about this!
Deadhead feminist Atty-Mama (5, 3 & 5 mos), fun wife, big sister, DD, loyal friend, clients’ trusted family advisor for life
-

2. Tell us about your law practice.


DGVE law helps pp add to, protect, & move their families: adoption, estate planning, residential real estate
-

3. What type of clients do you represent?


most DGVE law clients are in their 30s-40s, own homes in the Greater Boston area & are parents of minor children
-

4. And what would you say is the single most important legal issue affecting those clients?


legally protecting their kids- naming guardians & ensuring kids’ $ is protected until they’re mature enough to receive it
-

5. Important matters indeed. What do you tell every new client before you start working for them?


we date b/f we get engaged- I tell prospective clients a little about me, ask about them, then we can see if rel. would work
-

6. I like that analogy. Tell us about one of the more significant client representations you’ve had.


I’ve had the privilege of becoming the trusted family advisor to an extended family, helping each of them…
Also very excited about clients who started w/me for estate planning & are now in the process of adopting!
-

7. Why do your clients hire you?


I’m genuine, friendly, deeply empathize w/my clients & want to help them in as easy a way possible- they can sense that immediately
-

8. What’s the most active area of your practice at the current time? Is that typical?


Estate Planning (Wills, Trusts, Guardians for Kids, Living Wills) though Real Estate & Adoption have been picking up lately
-

9. What’s the most common mistake people make with respect to estate planning. How can they fix it?


Avoid/delay. No certainty but death/taxes but never know when disability/death will come, what cost, or how old kids’ll be…
always better to plan calmly than react in crisis. DIY estate planning = close second- that’ll be big news going forward.
-

10. Heard it here first…. You charge flat fees for your work. How long have you done that? How has it changed your practice?


did some hrly billing as I was taught when I first went solo. It was awful for me & the clients. I decided never again &…
everyone’s happier this way. It fosters more & better communication & engenders more good will all around.
-

11. That makes sense. How do you describe what you do to people you meet at a cocktail party?


I help pp add to (adopt), protect (plan for disability & death), & move (homes) their families in empowering, friendly way.
-

12. You blog at MA Wills, Trusts, and Estates (http://bit.ly/SXyj1) What objectives drive your blog? Are you meeting them?


I aim to educate & motivate in easy nonthreatening way to plan NOW/spare families later & believe I’m meeting those goals.
-

13. Besides Twitter and your blog, what other Web 2.0 tools do you regularly use to market your practice?


FB Fan Page where I regularly interact w/others & also post items related to real estate & adoption. http://bit.ly/4ArcgA
-

14. What specific impact on referrals and/or client engagements, if any, have you realized from Web 2.0 activities?


I’ve had a # of clients via FB & met wonderful colleagues nationwide & found great referral partners locally via Twitter…
referred to me or Googling, Clients often say they checked out my website & blog & “liked my vibe”
-

15. How much time do you spend each day developing / enhancing your brand?


I enjoy connecting w/pp on deeper level, find my friendships on & offline personal & professional in origin lead to the best…
word-of-mouth “brand enhancement.”Also 1 day/wk on my biz & mkting plans, learning what they didn’t teach in law school!
-

16. It seems to be working well. Let’s switch gears: what is the most significant issue currently facing the legal profession?


Mistrust of lawyers nothing new, but fear of being “taken” financially exacerbated right now. Disconnect I’m seeing w/…
clients who feel can’t afford all legal services need, so gamble instead trying DIY approach or w/less comprehensive plan…
don’t like it but I get it. Something’s better than nothing, so I do what I can to make high quality affordable & accessible
-

17. What will the legal landscape look like in 10 years?


not clairvoyant but I’d love to see more respect for less conventional e.g. dedicated home offices & flex hrs enabling more…
atty-parents to be happier being w/their kids & continuing to serve pp as we worked so hard for so long to learn to do.
& lots more DIY legal attempts - yikes!
-

18. What would you do if you weren’t a lawyer?


Spanish Literature Prof. at forward-thinking U. teaching a series of classes from El Quijote! Makes me happy just thinking about it!
-

19. How do you want to be remembered?


positive role model/loving, safe harbor for daughters; still-fun-to-hang-out-with wife & friend; clients’ trusted advisor for life
-

20. What do you do when you’re not working?


5yo 3yo 5mo 2 cats house & DH, but we make time for great TV (recorded to watch when we can), friends & family. I don’t sleep much.
-

21. I can imagine…. What advice can you pass along to lawyers currently under- or unemployed due to the economic crisis?


As Mama Odie tells Princess Tiana u gotta dig down deep/figure out what u REALLY want, then work hard to make THAT happen.
-

22. Wise words. Our final question for you: What advice do you have for people going to law school today?


Make sure heart’s really in it/know why or don’t go. Do what’s always worked for U. Avoid fearful dramatic competition like plague.

Thank you for a very interesting interview; I enjoyed learning about you and your practice very much.

It was my pleasure - thanks so much!

What Happens When Your Parent Needs Long Term Care?

The following is a guest post by Mark Baron, a certified Long Term Care Specialist with The Bulfinch Group in Needham, MA. Mark was kind enough to address a pressing issue for many of my clients and their families...

Long Term Care (LTC) is a family issue, not an individual one. A thirty year-old may not be thinking about this, but if something happens to a parent, it could blindside them. When a family member needs long term care, their life isn't ending, but the immediate family's is. Everything stops, and crisis management begins. This is especially difficult when the thirty year-old child is working full-time, and has children.

If families plan for this, or at least have a vague idea of what to do when the time comes, it can make a huge difference on the impact. It is far better for a family member to be in a position to supervise the care, not provide it. Long Term Care Insurance will obviously make a major difference in helping the family deal with the care, but first, the family has to have a plan in case care is needed, before discussing the insurance.

This discussion should take place while your parents are healthy, even in their 50s or 60s. It's no different than planning for retirement, where you sit down and think about what it is that you want, should you need care. Instead of long term care being a taboo subject, it should be looked at as a normal part of the aging process. But sometimes, it can happen suddenly, for example, from a stroke, or accident. So, you must be prepared.

The best way to approach this is to have an honest discussion with your parents that may start by opening the conversation with the following statement, "I'm concerned that if you ever need care, I won't know what to do, or know where you would want to receive care. I'm also worried that I won't be in a position to be able to provide what you need, and I won't know who to call." This is a much more productive way to open the discussion about this subject. It's key that you and your parents have an understanding about what type of care they may want, and where they would want to receive it. Once the discussion begins, long term care insurance can be one of the solutions to the problem.

Long Term Care insurance can be tricky to understand, but if you and your parents meet with a person who truly specializes in it, and who is an independent agent, you will benefit tremendously. Not everyone can qualify to be covered, but exploring this insurance is part of the process to prepare for the future. If the agent only recommends one company, you should ask what other companies were considered, and maybe get a few specific reasons why others weren't part of the recommendations. A good LTC specialist should be able to answer these questions, and you'll be well served. Your parents may decide that the insurance isn't for them, but they at least will understand what they are rejecting.

If you have more questions regarding LTC and/or LTC insurance, you can reach Mark at: 781-292-3216 or mbaron@bulfinchgroup.com

Don't Let the DGVE law 2010 Special Expire!

I've decided to share more broadly a tiny piece of what subscribers to my biweekly e-newsletter received earlier this month (if you want to see the rest, you'll have to subscribe over in that little teal box to the left on this page!):

New Year's Eve has always been my absolute favorite holiday, which is what inspired this "2010 Special."

New DGVE law clients

who call in January 2010 to schedule appointments

will receive:

20% off adoption finalizations;

10% off will-based estate plans;

20% off trust-based estate plans; and

10% off residential real estate purchases or sales.

If any of the above are on the New Year's Resolutions lists of you or your friends, loved ones, or clients, please don't let this 2010 special expire without calling my office at (781) 740-0848.

Happy 2010! From all of us at DGVE law, we would like to wish you and your family a very happy, healthy, and prosperous New Year!

And in the spirit of compliance with all the new rules and regulations & so I am perfectly clear: This is an ad, a pure, unadulterated, solicitation for new clients. Hey, we can't all hire Don Drapers to do our marketing for us, can we?

What's in your glove compartment?

This guest blog post is by my colleague and friend, Michele Allinote, a lawyer in Cornwall, Ontario, Canada:

Last Wednesday night, my husband had picked up our children so I was enjoying a rare quiet drive home by myself when I noticed a police cruiser following me. I made a mental note not to pull anything out of my purse, lest the officer think I was violating Ontario's new anti-cellphone law. Other than that, I checked my speed and distance and, knowing that I wasn't doing anything wrong, I settled in to my seat.

And then the lights went on. I pulled over and looked for my license and ownership, wondering why the heck I was pulled over. The officer's introduction was "Your sticker is expired. It says December 2009.". That would be my husband's job I explain and that I was sure he had renewed the sticker, but maybe just hadn't put the new one on. He asked for my ownership and insurance so he could run the vehicle.

And this is where it gets embarrassing. Do you think I could find the documents I needed? I rifled through the glove compartment, throwing Tim Horton's napkins and ketchup packets all over the place. When the contents had all been dumped in the front seat and on the floor, I found the ownership for the vehicle. Then the officer asked for a current insurance certificate, since the one I gave him was from 2006. I didn't even own the car in 2006, how did that get in there? I rifled through all the stuff I had emptied out of the glove compartment, looking at all the little pink insurance slips that my husband must have shoved in there as we received each policy renewal. I finally found the current one and gave it to the officer.

When all was said and done, the officer found that yes, the plates had been renewed. He cautioned me to put on the current sticker and I was on my way.

You are probably asking right now what is the point of this whole story, right? Well, the point is that although I have no burning desire to organize the contents of my glove compartment, it is something that needs to be done. If I wouldn't have been able to find the documents the officer needed, I would have gotten a ticket (or two), for no other reason than not being organized and not being prepared.

It is the same thing with doing an estate plan. No one really wants to come and see me to talk about what will happen after they die, but it is something that needs to be done. Part of the process I bring clients through is a review of their financial picture which requires them to gather organize their information. I do this using our Legal Needs Questionnaire and by providing clients with a Peace of Mind Personal Inventory...

Michele's process is similar to my own. Often it is the process of preparing for their Peace of Mind Planning Session with me that helps my clients begin to gather in one place all their important financial information. And often estate planning leads to more comprehensive financial planning and vice-versa. It doesn't make much sense to work so hard to accumulate wealth to provide for your family and then do nothing to protect it from unnecessary taxes, fees, and expenses that can be at least partially if not entirely avoided. Where do you want your hard-earned money to go? To your children? Your extended family? To a charity of your choosing? When you create an estate plan for your family, you decide what, when, where, and how your money goes. But Step 1 is getting it all organized, and your estate planning attorney and/or financial advisor can help you get started.

Introducing DGVE law's New Trust Funding Coordinator!

I am thrilled to announce that Bari Vallas, Esq., has joined the DGVE law Team as our dedicated trust Funding Coordinator!


Bari spent 20 years practicing as civil litigator prior to transitioning to an expertise in trust funding. As Funding Coordinator for DGVE law, Bari is now helping review and organize clients' financial information, preparing easy-to-understand asset spreadsheets for each client, and working diligently with Danielle and her clients to ensure that their trusts are properly funded so their estate plans will work as intended and designed (rather than end up a pile of useless paper).

You see, it's not enough to have a trust "drawn up" - you have to actually fund your trust if you want it to accomplish your goals. Often those goals include avoiding the stress and expense and delay of probate and ensuring that your property passes to your loved ones when and how you want. So many trusts fail because people have the trust document and don't know how to properly apply it to work. My goal is to ensure that all my clients' plans work when their families need them to most, and proper trust funding is a critical step towards achieving that goal.

A New Dinner Party Third Rail?

Most of us have been taught not to discuss religion, money, or politics in polite company (though I always thought that made for snoozers and you wish you could have been a fly on the wall at our last annual tapas party – fun!).

But there would seem to be a new, umbrella taboo or dinner party third railif you Will (pun intended): estate taxes. You see, all the drama around Congress’ inaction to deal with the federal estate tax issue recently has made for lots of discussion, but that discussion necessarily leads to money and politics (like when I was chatting earlier today about it with “my Republican friend,” as I teasingly call one of my nearest and dearest friends, though truth be told she's not even close to my only Republican friend, we just share an affinity for discussing politics vigorously, respect one another's points, agree to disagree, and move on to other topics easier than many).

Anyway, given all the uncertainty and the potentially serious financial and practical consequences one course of political action may have over another, perhaps it’s best to avoid the topic, in polite (read: boring) company for the time being. And if you have questions about it, ask your estate planning lawyer and/or accountant, who has your best interests in mind, about it for some quality, personal advice based on your particular situation.

PS: I intentionally shortened this blog post especially for you know who you are who requested as a New Year’s gift that my information come in shorter, more easily digestible, and fun to read bits! ;)