Estate planning for attorneys; By: Mina Sirkin

1. ESTATE
PLANNING FOR
ATTORNEYS
Mina N. Sirkin
SIRKIN LAW GROUP, P.C.
21550 Oxnard St. #300, Woodland Hills, CA 91367
818-340-4479
SIRKINLAWGROUP,P.C.

2. Basics
• Wills
• Trusts
• Power of Attorneys for Asset Management
• Power of Attorney for Health Care
• Assignments to Trust
• Transfer of Real Estate
SIRKINLAWGROUP,P.C.

3. Special Problems with Access
to Attorneys’ Accounts
1.General Account of a Law Corporation: Needs a signer on
the Account (Coordinate Trust and Power of Attorney to
cover these)
2.General Account of a Sole Proprietor: Needs a signer on the
account and an assignment to the trust. (Coordinate Trust
and Power of Attorney to cover these)
Attorney-Client Trust Accounts:
• Attorney-Client Trust Accounts need a Practice
Administrator Nomination in Estate Planning Documents for
someone to be able to access them upon incapacity or death
of the attorney
• Non-licensed Spouse cannot access Attorney-Client Trust
Accounts

4. Asset Based Planning
• IRA Accounts:
• 401k
• Life Insurance (Unless in a Trust)
• Beneficiary Designations
Second or Third Spouse Issues:
• Beneficiaries of all accounts and insurances need to be
checked
• Prior Dissolution Orders should be visited
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5. Practice Administrator
• Protects in Incapacity and at death
• May be nominated by in a writing (Will/Trust/Power of
Attorney/ PLUS stand-alone nomination)
• The process of appointment involves a Petition to appoint a
Licensed Person as Practice Administrator to take control of
files and assets (Probate code 9764)
• Must specify value of of the assets
• Requires a bond
• The Practice Administrator cannot be the attorney
representing the personal representative or trustee in the
administration
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6. Duties of the Practice
Administrator
• B&P 6185
• Take control of all operating and client trust accounts,
business assets, equipment, directories, and premises
• Of Deceased or Disabled Bar Member
• Take Control and Review Files
• Contact Each Client and Discuss options
• Contact Opposing Counsel and ask for time for new counsel
• Determine Liabilities of Practice and pay them from the assets
of the practice. If insufficient, ask the estate administrator for
additional funds, or ask the court for an order
• Employ any person necessary to assist
SIRKINLAWGROUP,P.C.

7. More
• Create a plan of disposition
• Sell the practice subject to approval of personal
representative
• Reach agreements with successor counsel, subject to approval
of the personal representative, for division of fees for work in
progress
• May act as successor counsel
• May ask for Instructions from the Court
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8. Logistics
• Corporation Attorney Client Trust Accounts require an order
appointing the Practice Administrator to access the account
• Order must specify the name of the corporation and the name
of the practice administrator who can access
• The practice administrator must still obtain permission of
personal representative, unless waived in the order
SIRKINLAWGROUP,P.C.

9. How is the Practice
Administrator Paid?
• From the assets of the practice, with a court order
• If not sufficient, paid from the estate or trust, with a court
order.
• PROBLEMS:
• Insufficient assets
• Maintaining the malpractice insurance
SIRKINLAWGROUP,P.C.

10. Decedent Estate Malpractice
Statute of Limitation
• Latest: 1 Year from the date of death even if no probate or
trust
• Or 4 months from the date of Letters Testamentary/Letters of
Administration
• Or 4 months from the date of publication by trustee, if
Trustee published a notification
• Late Discovered claims must apply to the court, but still
subject to the time bar
• Claims against the deceased member: Creditor must file a
claim
• Practice Administrator must communicate with the personal
representative so he/she can give notice to the creditors
SIRKINLAWGROUP,P.C.

11. Have Questions?
Mina N. Sirkin, Esq.
Board Certified Specialist, Estate Planning Probate & Trust Law
SIRKIN LAW GROUP, P.C.
21550 Oxnard St. #300
Woodland Hills, CA 91367
(818)340-4479
Email: MSirkin@SirkinLaw.com