All it takes is one careless act to place you in the hot seat for months or years where you might watch your personal, professional, and financial life crumble around you. An estate planner may become a defendant in a case involving an estate he or she planned in two main ways.
First, the attorney may have performed his or her services in a negligent manner potentially creating exposure to malpractice liability. A recent study revealed that 10.67% of malpractice claims are based on conduct relating to estate, trust, and probate. Second, the attorney’s conduct may have lapsed below ethically acceptable standards.
This presentation reviews the exposure an estate planner may have to malpractice liability and then focuses attention on ethical issues that may arise while preparing or executing the plan. The presenter hopes that by pointing out potentially troublesome areas, the attendees will avoid the ramifications of drafting a flawed estate plan or having a lapse of ethical good judgment, which may lead to the frustration of the client’s intent, financial loss to the client or the beneficiaries, personal embarrassment, and possible disciplinary action.
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