Passion for Estate Planning... What to Do? Forum

[Anonymous User]

Hey all. I'm a CPA and a current 2L. I just transferred from 2LE to 2L this month, so my career path is a bit messed up right now. I missed fall OCI since I was working at the time and never considered needing an internship in the summer of 2011, but now I'm a day student.

Don't know my most recent ranking yet, but I was better than top 10% after 1LE, and I'm at a school inside the Top 35 schools. Anyway, I discovered this most recent semester that I love estate planning. I took a course in it and I'm hooked- I get to draw from my CPA for the tax planning side, and I find wills and overall estate plans just really interesting. I also really like trusts, so it's safe to say that estate planning interests me.

I figure it's too late to get an internship this summer, but I'm still trying and making sure to point out my switch from the evening division to the day division. More importantly, though- how does one get involved in estate planning specifically at this point in law school? It seems like a pretty specific field- many of the firms I looked at have only a handful of people that specialize in the field. Do I just try for a general internship this summer and try to emphasize my enjoyment of the topic during OCI in the fall? I'll be taking more estate planning courses this spring and next year too.

As a result of my switch, I'll need to either graduate a semester late (so 3.5 years total), or do both summers (graduating in August instead of May). I have no idea how this will affect my job hunt, but I suppose that is a topic for another day.

[FlanAl]

i'm going to necro this thread to see if anyone knows anything about working in a bank's trust department. That abrams guide to legal specialties says that this is how a lot of estate people get started.

thanks!

[markymark]

i'm going to necro this thread to see if anyone knows anything about working in a bank's trust department. That abrams guide to legal specialties says that this is how a lot of estate people get started.

thanks!

A bank's trust department pays far far less than biglaw T&E (I hear 60-80k). Other than that, I don't know very much.

[A'nold]

Admit that you like boring stuff?

[markymark]

Admit that you like boring stuff?

Estate planning is far far more interesting than something like litigation.

[A'nold]

Admit that you like boring stuff?

Estate planning is far far more interesting than something like litigation.

This is sarcasm, correct?

[markymark]

Admit that you like boring stuff?

Estate planning is far far more interesting than something like litigation.

This is sarcasm, correct?

Not in the least bit (assuming we are talking about Biglaw T&E).

[sebastian0622]

Admit that you like boring stuff?

Estate planning is far far more interesting than something like litigation.

This is sarcasm, correct?

Probably not. How often do you think estate planning involves discovery? It's entirely reasonable to suggest that the most boring parts of practicing law disproportionately occur in the process of litigation.

[A'nold]

Admit that you like boring stuff?

Estate planning is far far more interesting than something like litigation.

This is sarcasm, correct?

Probably not. How often do you think estate planning involves discovery? It's entirely reasonable to suggest that the most boring parts of practicing law disproportionately occur in the process of litigation.

Meh. The really horrific grunt work is done by legal secretaries, paralegals, and legal interns. (I don't really think doc review is all that bad when not your job 100% of the time).

Edit: And btw, I am talking about actual litigators, not biglaw associates that work in the lit department a year or two in.

[jrock12]

if you're that passionate about actual estate planning, why don't you go be a financial advisor? better hours and the possibility of making a boat-load more money than if you were a lawyer (hedging myself by saying that you need to either join a successful team or be able to build a decent client base for yourself)

[markymark]

if you're that passionate about actual estate planning, why don't you go be a financial advisor? better hours and the possibility of making a boat-load more money than if you were a lawyer (hedging myself by saying that you need to either join a successful team or be able to build a decent client base for yourself)

Working in PWM at one of the bulge bracket banks is an exit opp for T&E Biglaw. So you aren't off base.

[jrock12]

if you're that passionate about actual estate planning, why don't you go be a financial advisor? better hours and the possibility of making a boat-load more money than if you were a lawyer (hedging myself by saying that you need to either join a successful team or be able to build a decent client base for yourself)

Working in PWM at one of the bulge bracket banks is an exit opp for T&E Biglaw. So you aren't off base.

it may be an exit option, but it doesn't even have to be. skip the big law BS and go straight to PWM from law school--that is, of course, assuming you don't want to do big law in the first place

[markymark]

if you're that passionate about actual estate planning, why don't you go be a financial advisor? better hours and the possibility of making a boat-load more money than if you were a lawyer (hedging myself by saying that you need to either join a successful team or be able to build a decent client base for yourself)

Working in PWM at one of the bulge bracket banks is an exit opp for T&E Biglaw. So you aren't off base.

it may be an exit option, but it doesn't even have to be. skip the big law BS and go straight to PWM from law school--that is, of course, assuming you don't want to do big law in the first place

TBF, T&E Biglaw pays 160k while PWM associate probably make 80-120k.

[jrock12]

if you're that passionate about actual estate planning, why don't you go be a financial advisor? better hours and the possibility of making a boat-load more money than if you were a lawyer (hedging myself by saying that you need to either join a successful team or be able to build a decent client base for yourself)

Working in PWM at one of the bulge bracket banks is an exit opp for T&E Biglaw. So you aren't off base.

it may be an exit option, but it doesn't even have to be. skip the big law BS and go straight to PWM from law school--that is, of course, assuming you don't want to do big law in the first place

TBF, T&E Biglaw pays 160k while PWM associate probably make 80-120k.

To start...but PWM does not have the lockstep BS that big law has. You could easily surpass big law earnings within a few years. And hours do not even compare.

[FlanAl]

how would one go straight to pwm from law school? is a jd seen as a good enough qualification for this kind of a job.

thanks for all help