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Monday, April 18, 2005

Note to Self: Avoid having to hire a lawyer on my deathbed.

Unfortunately, many people will give the details of their final wishes on their deathbed, in the company of a lawyer. As sad as this sounds, it happens everyday. Many people will avoid making a will until they are forced to do so.

When someone who is gravely ill requires a will, a family member or good friend will usually call a lawyer for them. The lawyer will attend and usually find: someone who cannot give proper instructions or someone who is reluctant to do so. The only thing worse than making a will must be making a will on your deathbed.

In the first instance, obtaining instructions and a signature usually becomes a problem. In the second instance, obtaining any cooperation on the part of the ill person is the main problem.

In a recent trip to a hospital to do such a will, I encountered a person who was very distraught and unwilling to provide any instructions. Needless to say, they did not appreciate my visit.

Giving the details of your final wishes under these circumstances is the worst case scenario that everyone should avoid.

It is also important to remember that when a will is created under such circumstances, it is open to the possibility of being challenged. The common challenges are: the person was incapable of giving proper instructions or they were subject to some undue influence.

I wonder how many people who hired a lawyer at the last moment of their lives to create a will, also realized that they were unfortunately hiring a lawyer to handle the litigation of their estate as well.

Arlindo

Thursday, January 13, 2005

Greed and Partnerships

The funny thing about greed is it essentially destroys what it seeks to gain: money.

So often in a successful partnership, one of the partners looks at the other and thinks, I know how I can double my profit - by eliminating my partner.

Most often this attitude leads to the demise of the partnership, friendship, and the profits. In the end the greedy partner often has less than what he/she started with.

The old adage is always true - don't fix it if it isn't broke - and don't kill the goose that lays the golden egg. If people could keep their greed in check, believe it or not, in the long run they will make more money. Greedy people often don't have strong partnerships because they lack trust; they don't even trust themselves. At the end of the day, trust leads to money if it is not misplaced.

The good thing about legal contracts is they can help establish trust and reduce suspicion by actively engaging partners in a discussion about entitlement. With terms clearly defined, greed can be reduced, trust can be increased, and partnerships can last forever.

Tuesday, October 19, 2004

Welcome to the new blog!!

We're happy to announce the launch of our blog and legal advice column.

We will soon have a convenient feedback form for all your questions, so be sure to bookmark this site and check back in a week or so.

In the meantime, we look forward to hearing from you!

Lawrynowicz and Associates
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