Advanced Legal Blog

If you want to have a will or even a trust, there is no reason in the world that you have to come to me or another estate planning attorney. Go online to Suze Orman's website or to Legal Zoom, follow their prompts and soon you will have the beautiful legal document they promise (and at a fraction of the cost of an attorney). I know one attorney who bought trust creation software at a dollar store for $1.00 (plus tax). So why am I still in business? Why do people still pay my "exorbitant" fees?

My fees for basic planning may run $2,000 or $3,000 more than what is available in the do-it-yourself world. People are not paying my fees because they want to help me out. There are not that many people who are willing to write a $2,000 check because they think I'm a nice guy and they'd rather give me the business than pay that Suze Orman woman $40.00. (Or give dollar general $1.00) What would make someone willing to part with so much more money? One of my recent clients gave me the answer.

Mr. Client/Friend has researched online and I was impressed by his understanding of how business structures should be set up. In fact, he used Legal Zoom to create an LLC and based on our conversations (I've never reviewed the documents.), I think he probably did fairly well with them. Then he told me that he wanted to be sure his personal planning was done right. The reason he came to me is because he wanted Peace of Mind. Looking back, I think that is the reason most of my clients have sought my counsel.

I hear the radio adds for Legal Zoom and see Suze Orman on TV and on the Internet. Their messages are compelling and their prices are cheap. The documents produced are beautiful and filled with all the right legal clauses . . . for someone. The question is, "Do the clauses fit the person they are being applied to?"

I have heard from attorney after attorney about people coming into their offices with a self-help trust. It is fortunate when the person who created the trust is the one who brings it in instead of the child who wants to know why their home is being sold etc.... If the "grantor/trust maker" has already died, it is often too late to fix a trust that does not meet their goals and circumstances. Sometimes the programs just can't get to really know what your circumstances are and understand the questions that must be asked. Often you don't know there are any problems until it is too late.

Legal documents are tools. One day I was watching a man put doorway trim in my home and it was so well done that I had to comment. I told him how nice it looked and told him that I had put up trim in a prior home and it hadn't looked nearly as good. His only response was, "What do you do for a living?"

You see, I had all of the same tools and I had enough knowledge that I felt I could do it myself. However, there was no substitute for the knowledge and experience of a person who actually does know how to do it. The difference was that I could see where I messed up (even if I didn't know why or how to fix it) but with legal documents you don't know if it contains dangerous language unless you have a competent professional review it.

Why some attorneys won't review your estate planning -- It's really simple. If they tell you that the trust you created using the Nolo software and workbook is as good as what they would have charged you for themselves to do, then 1) They wouldn't have done a good enough job to begin with and your talking to the wrong attorney and 2) they are on the hook and likely to be sued if the trust blows up and your children want to know why it didn't work how it was supposed to when that attorney said it was just fine.

I will review revocable living trust documents and other planning documents because I can usually spot the deficiencies and tell you about the problems you face. Your trust may have been state-of-the-art when it was first created but if you haven't kept it up to date I can generally find something wrong with it. I will generally not amend it, however. It would cost more for me to review it all, create enough amendments to fix your problems, and make sure that the amendments didn't conflict with any other language in the estate plan than it would for me to just redraft the documents correctly from scratch. This way I know that everything will work together seamlessly and I can update it for you annually with much less effort. You will even get a discount for the work you have already done to put a trust in place.

Another reason Estate Planning attorney's drafting wills and trusts are still in business is because they also do a lot more. When was the last time Suze Orman talked about drafting a Charitable Lead trust that would leave everything to your heirs estate tax free after helping your charity for a few years. How does Legal Zoom do in putting together a team that will help your family develop governance documents that will support a plan that will last for 100 generations instead of being spent in two generations as is standard?

How will you be able to pass on the values and character traits using software from a box? (I bet you didn't even know you could do that type of planning did you?)

Summary -- if you really care (even if you are an attorney yourself but don't practice in this area), seek professional counsel who will be able to understand your situation and sit down with you to develop a plan that will achieve your goals. When you have this type of competent counsel behind your plan you never have to ask yourself, "I wonder if I answered that question right."

Best of Blessings
Mark

I have done three radio shows. One show was a basic overview of estate planning. One show was about planning with insurance (including Premium Financed Insurance). The last show I did was about Charitable Planning.

After the first two shows aired I noticed something interesting. The majority of people who called me were not the very wealthy affluent individuals the programs were targeted at. They were people of modest but sufficient means.

So why did they call? They have a more pressing need. The couples that surprised me have Special Needs children. These men and women understand stewardship.

These wise stewards know that their children need care and assistance and that planning must be put in place to accomplish this task when they can no longer do it themselves.

I was prepared for the tears that flowed when the mothers talked about their children and the need to make sure they are cared for. One thing I was not prepared for was the pain one mother expressed to me. She said that it was painful to do this planning. A lot of hopes and dreams she had for her children were lost to their special needs. She even thought it might be fun to do the planning if she had children who might be able to manage their inheritance themselves.

My heart goes out to any of you in similar circumstances. (I know that many faiths do not agree with this next statement, but I want to offer it anyway so that if you agree with it, it may offer you some comfort.) I believe that all little children and those who do not have any more mental capacity than little children are alive in Christ and have the full advantage of His atonement. I believe that in the last day they will be saved and made whole.

I am happy to have the opportunity to sit with these wise stewards and assist them in designing plans to care for those who are in their stewardship.

Mark

This is my first ever professional blog. In my industry it is often important to a person that they like me and feel that they can work with me. This blog is so you can get to know a few things about me and my family.

Often people make the decision on hiring a wealth industry attorney by deciding if they like the attorney and then satisfying themselves that the attorney at least knows what they are talking about. (A former professor of mine has lost referrals to me because he talks over people's heads. He probably still knows more than me, but the financial planner referring people felt that I made his clients feel more comfortable.)

FAITH
I know that God lives. I believe that the first principles of the Gospel are 1St Faith in the Lord Jesus Christ and 2Nd Repentance. Though I firmly believe a particular way, I also believe that every person has the right to worship according to the dictates of their own conscience. Let them worship how or what they may. I am more interested in making sure that I treat them as a brother or sister; another child of God like me. We are all equal in the sight of God and I try to remember that and emulate the example of His Son Jesus Christ.

FAMILY
My volunteer work takes a lot of time. To spend time with my family I sometimes work less. I am interested in providing a comfortable life for my family, but no amount of success can compensate for failure in the home. My family always comes first. I am grateful that in my business, most of the friends I work with feel the same way.

My wife, Tamila, and I have been married for over 15 years now. We have done foster care off and on for about 10 years and have adopted two children. We also have two sons who have already moved out but live close.

FRIENDS
Though I may refer to someone who pays for my services as a client at times, (Old habits die hard.) I try to think of the people I work with as friends. Too often estate and business planning are thought of as transactions. This is why so many plans fail. They need to be updated and maintained. They need to be thought of as relationships. When you sign the documents you have only just begun. To make sure my clients are taken care of the way they need to be, it helps to care about them. It helps to think of them as friends. (It also helps that I have a formal maintenance program.)

HISTORY
My wife and I both grew up poor. We had a running argument/competition about which of us was the poorest. We really appreciate the lessons we learned through our early struggles.

When I married my wife, she already had our two oldest boys whom I later adopted. My wife has been so supportive of my education and practice since we were married. Without her support and faith in me I could not have done what I have.

I have a Bachelor's degree in Business Administration with a concentration in accounting, a Master of Science in Management, and a Juris Doctorate degree (from the Washburn University School of Law) with Honors and a Certificate in tax law. I have done a little bit of Disability work, some minor Criminal Defense, and some Family Law. However, from the time that I found out I could protect people's assets from creditors, predators, and taxes; estate planning has been my passion. I now limit my practice entirely to counseling people on the alternatives available to them and providing them with state of the art designs and solutions for estate and business planning. (Often this requires working with their other financial professionals.)

I set up Galloway Law Office in 2005. However, I quickly became the managing attorney for Telthorst & Associates, LLC in Topeka and they became my exclusive client. In November 2007 I decided to reinvent my firm. Advanced Legal Planning, LLC was launched earlier this year.

INTERESTS
Though I have not had much time for any hobbies, I have enjoyed the martial arts since my youth. In fact, one of the things I have done to start getting healthy again is to renew my individual martial arts training. At the expense of being a little cheesy, you may see a video I made for a competition my wife and I were in here. I look a lot different in a suit.

I also do magic tricks. If you bring a child to an appointment with you, don't forget to ask for me to do a trick for them.

INTENTIONS
I look forward to serving people who understand stewardship. While what I can do is most often thought of as a service for the wealthy, that is a misunderstanding. It is sometimes even more important to the family that can not afford the costs of probate. The problem is that they usually can't afford my services either. I am constantly looking for better ways to serve the wealthy while making essential services affordable for the average family member.

In fact, there are free forms for medical purposes linked to my website for people who can not afford my services but need some medical planning documents.

I would like to set up a program to have people nominate families for free planning and have voting done. I would like to do at least a couple of free plans per year. Let me know if you have any ideas.

I hope you enjoy the website and I look forward to getting to know you.

Mark