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Opportunities in the Current Economy

By Terri Petrey

In spite of uncertain markets, there are a few signs of enterprising souls out searching for the silver lining of the cloud that is the current economic downturn. Real Estate is a more attractive option than it has been for many a long day. Just as it is difficult to time the peak of a market, it's also difficult to gauge the trough. Apparently, the custom and upper end of the market still is flourishing, but at some point even that work will slow down. The only question is how much and for how long.

This is also a very good time for legal planning activities in both the estate planning arena and the business law arena. I've had a number of cases where elderly parents more or less avoid engaging in thoughtful estate planning. In these cases, it can be beneficial for the children to begin planning their own estate disposition schemes rather than worry about Mom and Dad's place. Many questions come up during the process and even if there is a reluctant parent in the mix, the process will provide a framework for the children to begin to have discussions with the parents or the siblings.

Wrapping up any legal loose ends is another opportunity that most folks overlook in good or bad times. It's a great time to see an attorney, either for a free or reduced price consultation, about that nagging legal question or task that keeps falling through the cracks. Do you have an item that has been inadvertantly left out of a trust? An action to quiet title that needs to be filed? Can't figure out what that document was that you signed last fall? Or, worse yet, verbally modified a written agreement but haven't memorialized it in writing yet?

Full post as published by The Law Blawg of Theresa Petrey, PLLC on April 09, 2008 (boomark / email).