I had the pleasure of taking Professor Shumway’s Law for Engineers class last year and was able to interview him last week. Although he can easy pass as someone in their 50s, he is actually 70 years old (how he keeps his youthful appearance might be a topic of a future blog post). He is a lawyer by training and has been practicing law and legal disputes of construction projects for almost 50 years.
Ron has 4 children who all live in different places across the globe (1 in London, 2 in Manhattan, and 1 in Utah). Ron believes that designating his eldest (in his opinion the most responsible) son might place a burden of him because they do not live in the same state. In fact making the trip from New York to California for a funeral is an emotionally taxing experience in of it self. The paperwork would be just another inconvenience and derail the children from properly mourning.
Ron understands this experience because he had to go through a similar process when his dad passed away. He estimates that it probably took him 6 months and 150 -300 hours to complete everything which at his current billing rates would amount to a significant amount of money.
He has been using online tools to track in finances for years and loves how Mint.com helps him organize all of his expenses. He would be willing to try the service but is reluctant to pay unless there is a significant value proposition.