April 2010 "You Probably Need To Speak With A Lawyer If..."

PLANNING FOR WEALTH & SECURITY
By Attorneys Jennifer and Jeff Hawkins

YOU PROBABLY NEED TO SPEAK WITH A LAWYER IF...

Acclaimed comedian Jeff Foxworthy has developed a series of jokes that begin with the phrase: “You might be a redneck if . . .” This article borrows Mr. Foxworthy’s concept to identify some of the circumstances when an attorney’s advice and representation may save a person from headache and heartache. So, you probably need to speak with a lawyer if . . .

1) A person calls or visits you and offers to buy your land or the coal, oil, or gas that lies under the land;

2) You are engaged to be married and you have acquired assets of any significant value or that may increase in value in the future;

3) Same circumstances as in 2, but you have children by a prior marriage or business partners who share ownership in your land or business;

4) You have a home, business, farmland, or other assets that you wish to pass to others when you die;

5) You think young children or someone with legal or medical problems may inherit your wealth;

6) A friend or family member dies leaving assets and bills, and you believe that you are the logical person to help manage that person’s estate or trust;

7) The thought occurs to you that you may have a stroke, car accident, or develop an illness such as Alzheimer’s, Parkinson’s, or Multiple Sclerosis before you die;

8) You suffer an injury that requires extensive therapy or long-term care, or someone tries to abuse or take advantage of you;

9) A friend or family member suffers one of the setbacks described in 7 and 8, and you believe that you are the logical person to help protect that person’s assets and other business; and

10) Anyone tells you that you don’t need a lawyer to do something (BIG RED FLAG! – this statement usually comes from someone who doesn’t want you to get legal advice that would lead you to second guess this person’s advice).

THIS ARTICLE IS NOT LEGAL ADVICE. ALWAYS CONSULT AN ATTORNEY DIRECTLY BEFORE RELYING UPON THIS ARTICLE OR CHANGING AN ESTATE PLAN.