Estate Planning for Attorneys

Attorneys typically have the same estate planning goals as non-attorneys, but attorneys have the additional consideration when creating an estate plan of the fiduciary duty owed to their clients. In the event of sudden death or incapacitation, an attorney must have an estate plan in place that, in part, protects the interests of their clients.

If an attorney is part of a firm, the other attorneys will usually take over the decedent’s cases. The rules of civil procedure in many states also provide provisions for other attorneys to take over a deceased attorney’s clients by court order.

However, to ensure that their clients’ interests are protected, an attorney’s estate plan should contain the following attorney specific considerations:

• Designation of a firm or an attorney to continue, close, or transfer clients;
• Creation of the appropriate powers of attorney so the designated attorney can effectually run your practice;
• The naming of at least one attorney executor to have the responsibility of handling your practice;
• Maintaining clear and understandable client records to help the designated attorney take over;
• Ensuring that protections are in place for maintaining client confidentiality;
• Establishing the compensation for the designated attorney; and
• Creating rules to regulate if the designated attorney has a conflict of interest.

See Patti S. Spencer, (Attorney at Law, Lancaster Pennsylvania) Estate Planning for Lawyers, American Bar, May 2011.