January 2011 Archives

1585 Points of Contact

January 27, 2011,

by Michael Ettinger, Esq.

We were thinking the other day about what typically happens when a client signs a will. After the will signing, the client often fails to ever look at the will again and the lawyer may never contact the client again either.

Now, let's say this particular client dies thirty years later. The old will is trotted out and, lo and behold, the executor is some very elderly or deceased sibling and the beneficiaries are quite different from what the deceased would have wanted thirty years later. Not to mention that by only having a will, not being a plan for disability or nursing home protection, this client may have died penniless, having spent down all of their assets to pay for long term care.

On the other hand, had the client secured an Ettinger Elder Law Estate Plan, they would have attended a client breakfast every two years, or fifteen client breakfasts, had ten of their complimentary three year reviews and would have received a whopping fifteen hundred and sixty of our weekly Ettinger Elder Elerts. That's 1585 points of contact between the client and the firm, all designed to make sure that your plan works when you and your family need it, including for disability and long term care.

Recent article in Investor's Business Daily, provides 10 steps for picking a financial adviser.

January 21, 2011,

Investor Business Daily reports, "Choosing a financial adviser can be akin to a stroll through a minefield. If you don't prepare, your wealth could get blown up by a Bernie Madoff or wounded by someone whose skills are mediocre or simply not suited to your needs. But with proper preparation, chances are you'll find one of thousands of advisers who can help you set and achieve your goals."

Meeting with a prospective adviser to understand how they get compensated for their services as well as determine your comfort level with that individual is essential. Addition insight into an adviser can be found in promotional materials, websites and professional certifications. You may also look up an adviser's Form ADV, which lists complaints and disciplinary actions, online with the Securities and Exchange Commission or your state regulators.

A New York Estate Planning attorney would be a good referral source for a qualified financial adviser.

To view Investor's Daily article which also includes The Certified Financial Planners Board's list of ten recommended questions to ask when interviewing a financial adviser, click here.