April 2007

DEAN’S COLUMN

SOME THOUGHTS ON WILLS, TRUSTS AND ESTATE PLANNING

BY DEAN RICHARD MORGAN, BOYD SCHOOL OF LAW

With the April issue of the Nevada Lawyer devoted to estate planning, I thought that I would offer a few thoughts and observations on that subject.  Although I have no experience or expertise as an estate planner, I have great respect for those lawyers who provide this valuable service, for I believe their work contributes substantially to familial and societal good.  Through their work, estate planners help clients plan for the orderly transfer of their family wealth for the benefit of future generations.  When this work is well done, it can have great benefits for the philanthropies and family members upon whom the client’s generosity devolves.

Estate planners also exemplify one of the most important roles that lawyers play in our society.  They help clients anticipate future problems and plan for their avoidance.  With all of the pubic attention paid to litigation, appeals, and even to alternative dispute resolution, it is important to remember that many lawyers prevent disputes before they arise, by thoughtful anticipation and planning.  In general, estate planners are in this group; they deserve our gratitude for their help in lessening the number of conflicts that will need to be solved by the courts or other dispute resolution mechanisms.

When the Boyd School of Law began, one of my goals was to place greater emphasis on lawyering roles such as planning, negotiation and problem solving, and less on litigation. One way of doing this is by offering classes, such as Wills & Trusts (taught by one of our founding faculty members), and Estate Planning (taught by excellent practitioners), which stress the planning process.  Happily, the Wills & Trusts class is one of our most popular electives, and the Estate Planning class is usually well-subscribed as well.  These offerings are an important part of our curriculum and of our efforts to provide exposure to the role of the lawyer-as-planner.

Estate planning has been important to our law school for another reason as well.  With the consent of their clients, a number of leading estate planners in our community have structured planned gifts for the benefit of our school.  These gifts are hugely beneficial to us, showing us that the lawyers and clients who arranged them believe in our program and also allowing us the opportunity to associate the donors’ good names with our law school through some sort of naming opportunities or arrangements.  As a result of these planned gifts, with more to come, I am sure, the Boyd School of Law will receive many millions of dollars in the coming years.  These resources will ensure a bright future for this young law school. 

As our school continues to mature as a community resource, we will continue to educate our students about the benefits of estate planning.  And I hope that we will continue to benefit from planned gifts that are steered our way by estate planners, who believe in this law school.  On behalf of the law school, I thank the clients and lawyers who have aided us; and I invite consideration of the Boyd School of Law by those estate planners who may be working with clients to plan useful testamentary gifts.