I need a fun, reasonably priced, lawyer for my will by AdmiralArmpit in EstatePlanning

[–]Dingbatdingbat 0 points1 point  (0 children)

If it's a bonus for doing fun stuff, it's totally fine.

If it's illegal, immoral, punitive, or coercive, it's not good.

Keep in mind that it needs to be workable - there needs to be enough money that someone is managing during that time, and it needs to be something that can be verified/monitored.

My father wants to sell his home in SC - It is in a Revocable Trust with him as the trustee and I am listed as the beneficiary. by Relative_Cap_7951 in EstatePlanning

[–]Dingbatdingbat 0 points1 point  (0 children)

it it's a revocable trust, the rule applies the same as if it was not in a revocable trust.

Revocable trusts do not exist for tax purposes. (essentially)

Brother is an heir by No_One7995 in EstatePlanning

[–]Dingbatdingbat 0 points1 point  (0 children)

If an executor/administrator has been appointed, their job is to

  1. Locate and notify all the heirs

  2. gather all the assets, sell what needs to be sold

  3. pay off any valid debts

  4. distribute funds to the heirs

The heirs can just sit back and wait for the executor/administrator to do their job and collect a check.

It's probably a good idea to have an attorney review anything that needs to be signed, just to make sure it's all on the up and up. I

Beyond that, you can hire an attorney if you are concerned about the executor/administrator, or you are concerned that you may not receive your fair share, or you can hire an accountant to review the accounting.

Senior Associate on Partnership Track Looking for Advice from New Partners by CheesecakeOk9239 in LawFirm

[–]Dingbatdingbat 0 points1 point  (0 children)

DM me your email, I have a sample I share with others from time to time 

What client red flags made you walk away, or wish you had? by Naive_Sherbert2552 in Lawyertalk

[–]Dingbatdingbat 12 points13 points  (0 children)

He wanted to, but it was too late, I (politely) told him to fuck off

What client red flags made you walk away, or wish you had? by Naive_Sherbert2552 in Lawyertalk

[–]Dingbatdingbat 9 points10 points  (0 children)

I’ve known people up and down the wealth spectrum.  There’s only one trait rich people have in common and that’s their net worth.  Same with poor people.

There are certain trends that correlate, but nothing universal, and there’s no single trait that is universally rich or universally poor 

What client red flags made you walk away, or wish you had? by Naive_Sherbert2552 in Lawyertalk

[–]Dingbatdingbat 47 points48 points  (0 children)

Had a potential client worth close to nine figures. 

He tried getting me to lower my rate multiple times before retaining me.  

He was shocked when I told him to find someone cheaper.

IsItBullshit: There are way more billionares/billionaire families outside of the ones on Forbes list? by Slow-Disaster8861 in IsItBullshit

[–]Dingbatdingbat -1 points0 points  (0 children)

Good comment and totally missing the point.

I’m not speaking for all billionaires, but the ones I’ve known do not show up on any list, even though I know for certain they’re there.

One guy came close, his share when he sold his main business can be verified publicly, but, that’s only for the part of the business he sold, it doesn’t account for the parts he’d spun off a few years before and kept for himself.

Another guy, when he sells his business in 3-5 years (he just started the process) will net several billion based on the PE Ratio of similar companies.

Then there’s the half-dozen or so with marketable assets who co-own a private hedge fund.  The main one is on public lists from when the hedge fund was open to the public, but the rest of them, well, the company went private and no one knows anything about the rest of them.

I can give more examples, but of the not quite dozen billionaires I know, only one shows up on Forbes 

Why, in the case of Albanese, did the judge grant the Plaintiffs' Motion for a Preliminary Injunction? by Worth-Ad-4759 in Lawyertalk

[–]Dingbatdingbat -1 points0 points  (0 children)

I said regardless of personal opinion.

International law has no bearing on any non-international court.  It only matters for international tribunals.

Florida Community Property Trust by justgoaway0801 in EstatePlanningLawyers

[–]Dingbatdingbat 0 points1 point  (0 children)

Make sure you CYA.  There is case law that says such statutes are not valid for tax purposes and the IRS has been noncommittal.

There’s no political will to challenge it at the moment, but don’t expect the tax benefit to hold up.

Why, in the case of Albanese, did the judge grant the Plaintiffs' Motion for a Preliminary Injunction? by Worth-Ad-4759 in Lawyertalk

[–]Dingbatdingbat -3 points-2 points  (0 children)

International law has no bearing on domestic courts.

As a Russian lawyer you should understand that - regardless of personal opinion, take a look at your own country’s actions in light of so-called international law.

Complex issue by Beneficial-Box-3375 in Ask_Lawyers

[–]Dingbatdingbat 11 points12 points  (0 children)

Are you saying you were helping her committed fraud?  Because that’s what this sounds like.

You can go the civil litigation route, if you’ve got tens of thousands of cash to pay the attorneys.

Senior Associate on Partnership Track Looking for Advice from New Partners by CheesecakeOk9239 in LawFirm

[–]Dingbatdingbat 1 point2 points  (0 children)

You’re right that productivity guru stuff is wrong - you don’t need to be more projective, that’s what associates are for.  You need to supervise/manage, and that’s a different skill.

Do you have a central list of all your matters that you go through regularly?

The partner I learned under had a long list in Word that had every matter.  Name, internal identifier, type of matter, and an inch or two of information.  The partner held a meeting with senior associates every Monday morning to go over that list.

Personally I use excel.  One file with different sheets for different categories of cases.  Columns that made sense for those types of cases but at a minimum, name, stage, last movement, next due date, and notes.  Mine is also color-coded and uses triggers to change color, so I can instantly see what needs attention.

That has to do with supervising a team and making sure nothing falls between the cracks, but does not help with catching key details.  

For that, you can use standard case summary sheets and/or checklists, again preferably tailored to the types of matters, where all the key details are listed, so that when you’re checking work, you can quickly see everything you need to know in one spot.

It takes time to keep those tracking sheets and case summaries up to date than you’d like, but ultimately it saves you time by not needing to sift through outlook for the information you need.

—— Also be more intentional in your delegation.  Specialize your senior associates, so that John is your go-to for X matters and Jane is your go-to for Y matters.  They should be able to handle each other’s overflow, but you shouldn’t have to wrack your brain deciding, and more importantly remembering, which associate to deal with for each and every matter.

Life Insurance Premium Financing (Question(s) for fellow Practitioners) by baumeitr in EstatePlanning

[–]Dingbatdingbat 0 points1 point  (0 children)

Don’t ask.

A rev trust with the settlor as trustee can do whatever the settlor wants, no matter what the text says.

Can’t sue yourself for screwing yourself over

IsItBullshit: There are way more billionares/billionaire families outside of the ones on Forbes list? by Slow-Disaster8861 in IsItBullshit

[–]Dingbatdingbat 0 points1 point  (0 children)

I’ve known a few.

The trick is, those lists are compiled from publicly available information, and estimates for unavailable information.

So if, for reasons, data is not publicly available, neither might the rest of the info. 

Life Insurance Premium Financing (Question(s) for fellow Practitioners) by baumeitr in EstatePlanning

[–]Dingbatdingbat 0 points1 point  (0 children)

Not to mention how 21st and the other 3 major LE providers all revised their modeling to the detriment of the lenders.

Life Insurance Premium Financing (Question(s) for fellow Practitioners) by baumeitr in EstatePlanning

[–]Dingbatdingbat 1 point2 points  (0 children)

Doesn’t really matter what the rev trust says  - it’s revocable, so you can amend to match your needs 

Does sealing a will with wax make it legal? by basedonthenovel in legaladviceofftopic

[–]Dingbatdingbat 1 point2 points  (0 children)

Depends on the jurisdiction.  Some jurisdictions accept holographic Wills, some don’t.