10. Conclusion
Holistic estate planning is unquestionably a new paradigm for the estate planning practice, but it is rooted in well-established principles. The process recognizes, accepts, and embraces changes that are occurring in society as the baby-boomer generation ages and sheds the paternalism of the previous generation. Holistic estate planning follows the path of holistic medicine by helping practitioners respond to broader interests and needs, and it also extends the steps taken by estate and trust attorneys toward utilizing mediation in other areas of their practice.
By broadening the content and deepening the character of the attorney-client relationship, holistic estate planning enables attorneys to recognize better solutions for their clients’ needs. It also may result in clients’ more fully appreciating the value of the entire range of services offered by attorneys. From a marketing perspective, estate planners who adopt the holistic approach extend their professional networks in their communities and create a benefit for clients that distinguishes them from other practitioners.
Most importantly, because holistic estate planning encourages families to consider seriously the effects of transferring wealth before estate plans are made, it can greatly reduce unexpected and unwanted surprises after the parents’ deaths. The generational transition in families is inevitable, but when it is handled in an inclusive manner, it can make a positive difference in the life of every family member.
