Winsor Law Group Blog

What would the Apollo Missions have been without the people of Mission Control?

My telephone rings. It is Francine Frustrated on the line. We have never met, but Francine tells me that her parent recently died and there are problems in the administration of the parent’s estate. Is the problem with the law? No (very rare). Is there a problem in the estate documents? No (also rare). Is the problem with the people? Yes and almost every time. Is there anything that can be done? Maybe. Is the problem going to be easy to address? No. Expensive? Usually. Who should be blamed? Often it is the deceased parent whose decision or indecision caused the circumstance. Who is actually blamed? The people who are perceived as the problem, a fact we usually cannot confirm without significant effort and expense.

People are More Important than Money.

Changing this perception is a constant battle in my practice. Time and time again, and across practice disciplines, the people elements are usually perceived as insignificant or are dangerously overlooked. Estate planning is a great example:

As part of the estate planning process, I have to help my clients identify the people who will serve as their life-time surrogates and replacements for managing their estate, small or large. It is essentially a job interview conducted without the applicant present. That meeting is often the first time many clients have considered who should be asked to fulfill that need. It is critical, and we need to find the right person, or group of persons, capable of doing the tasks reasonably well, and as instructed.

How important is the human element in business? If it is an important transaction, study the people and key players first, and then focus on the deal. It is unusual that a transaction must take place so quickly that there is not time to personally vet the participants by asking important questions related to competence, ability, and character. Although it is true that the law, a lot of money, or a clever lawyer can sometimes salvage a deal with bad human elements, but why take that risk?

People are More Important than Money because value is very often created, or lost, by the human element.

*The information provided in this article is of a general nature and reflects only the opinion of the author at the time it was drafted. It is not intended as definitive legal advice, does not create an attorney-client relationship, and you should not act upon it without seeking independent legal counsel.