When Parents Get Involved: Ethical Risks in Estate Planning and Divorce Prep

Private Wealth Services attorney Shari Levitan joined an episode of the ACTEC Trust and Estate Talk podcast to discuss how lawyers should approach situations in which third parties such as parents become involved in prenuptial planning or divorce proceedings. As Ms. Levitan explains, this scenario is increasingly common, and although asking for a meeting say seem like a reasonable request from a concerned parent, agreeing to bring parties together can quickly become messy, both for the family and for the attorney advising it. She reminds listeners that their first duty is to their client, not others in the room, and to make that clear from the onset of representation. She also talks about the attorney-client privilege risks implicated when third parties are present as well as reviews ethical rules to keep in mind in these circumstances, including the duty to adequately represent a client's interests and obtain informed consent before revealing the details of a representation. The conversation additionally touches on asset disclosures and potential conflicts of interest that may arise as a result of representing multiple family members. Overall, the episode offers helpful pointers for lawyers managing these tricky – and often sensitive – situations in estate planning.

Duration: 15:21