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Question for the Money Doctors

Question submitted on Jun 17, 2011.

Question

I hear a lot about Pre-Paid legal Services. Is it worth the investment to have a lawyer on call all the time?

Answer

I would suggest developing a personal relationship with an attorney close to where you live to help you draft wills, trusts or any other estate planning documents you may need. I don't believe you're able to develop a personal relationship with companies such as Pre-Paid Legal. If your attorney does not handle items such as litigation, they should certainly be able to refer you to a qualified individual should the need arise.

Then make sure you have an adequate umbrella insurance policy. Depending on the policy, the insurance company will assist you in retaining an attorney for your legal defense.


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