Estate planners know that when a client comes in, they are often looking for the quickest, easiest, and cheapest will possible. As a result, clients will often leave out key details, such as the true size of the estate, or that there is likely to be a big family dispute that will require litigation. This obfuscation of the truth, usually done in a misguided attempt to lower attorney fees, is a problem since an estate cannot be properly planned without accurate information. For example, a client that understates personal wealth out of fear of being charged more may face adverse consequences if the understatement causes the planner not to anticipate estate taxes. If a client ever ask for a “simple will,” explain to them that full candor concerning all relevant matter, such as assets and potential estate disputes, is the truly easy path and that a desire to save a few bucks now may cost them down the line.
See Robert Fleming, The Myth of the Simple Will, Fleming & Curti, June 15, 2015
