Monday, October 26, 2009

Any lessons for attorneys from the Brooke Astor case?

By now, the verdict against the Brooke Astor's son and the attorney who drafted her will is old news. However, attorney's around the country are evaluating the way they serve clients in preparing estate plans, and not just for clients with mega-sized estates that make the news.

The New York Times relates the scrutiny some attorneys are feeling, even if it is self-imposed:
[L]awyers and those in the academic world say [the conviction of Astor's son and attorney] is likely to force estate planners in New York and elsewhere to take extra precautions when balancing their clients’ wishes and competence.

The law generally requires a very low standard of mental capacity to execute a will, and there are few hard and fast rules that lawyers must follow when ascertaining a client’s competence.

Some experts said the Astor case could motivate lawyers to use additional safeguards to ensure that their clients are competent when there is any doubt.

Although attorneys should, as a matter of course, assure that their client have the mental capacity to properly execute their estate planning documents, cautious attorneys may implement even greater safeguards like mental evaluations or video recording of signings.