Two forces are reshaping estate planning at the same time. The Great Wealth Transfer is creating unprecedented demand for attorneys who can handle sophisticated planning, while artificial intelligence is commoditizing the routine end of the practice. A competent revocable trust and pour-over will can now be produced in minutes from a questionnaire.
The competitive advantage for an estate planning attorney is no longer knowing how to draft a revocable trust. It is understanding sophisticated domestic and international income, estate, gift and GST tax planning, business succession, asset protection and cross-border issues, and knowing how those pieces fit together for a particular family. The future belongs to attorneys who solve complex problems, not just prepare documents.
The full piece, including what this means for clients choosing a lawyer, is at turnipseed.law.
