In tough economy, trusts and estate lawyers thrive

During these shaky financial times, one old adage has never been truer: nothing is certain but death and taxes.

So despite the current economic crisis, business for attorneys with trusts and estate planning practices has never been better, no matter what the size of their firm.

"It's probably

an understatement to say that I am busy," said Domingo P. Such, a partner in the Chicago office of McDermott Will & Emery. "Someone called it the perfect storm of events: low valuations, low interest rates, expected changes in federal tax policies - it just creates a tremendous estate planning environment."

Recession proof practice

While law firm layoffs are being announced every day, Kenneth P. Brier, a partner at Brier & Geurden in Needham, Mass., has been adding staff to his practice.

"I have been very busy," he said.

One reason for the steady business: even when times are hard, people die.

"Honestly, part of the practice is more or less recession proof," said Brier. "Estate administration, asset consolidation, and trust work - that type of work is always going to exist."