Final answer:
The question is about the propriety of a lawyer being named as a beneficiary in a will or trust instrument they prepare. It mentions the difference between a trust, which is private, and a will, which is public, and notes that dying without either leads to state-controlled asset distribution.
Step-by-step explanation:
The subject of the question at hand pertains to the ethical and legal considerations when a lawyer is named as a beneficiary in a trust instrument or will they prepare for a client. When creating estate planning documents such as trusts and wills, it's important to bear in mind the potential for conflicts of interest. A trust is a mechanism for asset transfer that avoids probate and becomes irrevocable upon death, with an executor and trustee overseeing the process. A will, by contrast, publicly outlines a person's wishes for asset distribution after death and may be more easily contested. Dying intestate, or without these documents, results in the state determining asset distribution based on established intestacy laws.