Estate Plan Help: Lawyer vs. Financial Adviser Explained
Choosing who drafts your estate plan matters. Here's how to split the work between your lawyer and financial adviser.
You've built something worth protecting. Now the question is: who do you trust to make sure it actually passes the way you want? Your financial adviser and your estate attorney both have a seat at this table — but they're not playing the same game.
Your financial adviser knows your full picture. They see the accounts, the beneficiaries, the tax exposure. They're the ones who can spot a mismatch between what your will says and what your IRA beneficiary form actually does. That kind of coordination is gold, and you want them involved early and often.
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But here's the hard truth — your adviser can't draft the legal documents. A will, a trust, a power of attorney: those require a licensed estate planning attorney. Full stop. No workaround. If someone without a law license is handing you documents to sign, walk away.
The smart play is a team approach. Let your financial adviser quarterback the strategy and flag the issues. Then bring in the attorney to lock it down legally. The more eyes on your situation, the fewer gaps get missed. These aren't competing roles — they're complementary ones.
Don't let cost or convenience talk you out of getting the right specialist involved. A poorly executed estate plan can cost your heirs far more than the attorney's fee ever would. Get both professionals in your corner and make sure they're actually talking to each other. Continue reading at MarketWatch.com
