Karen Schaefer

Karen Schaefer

Partner, Barclay Damon LLP

Years in current role: 2

What do you enjoy most about practicing trusts and estates law?

I enjoy collaborating with clients to identify their concerns and goals and to develop a comprehensive plan that accomplishes those objectives in a way that is integrated with their family and business and that minimizes tax, cost and the potential for disputes. The plan, in the end, should maximize the transition of wealth and business interests in a way that enhances the lives of the heirs and business successors. My niche is really listening to and understanding my clients. Every one of them is unique and presents new challenges. Each has multifaceted problems and needs a proactive plan design that can be readily incorporated by the client and financial advisors into the client’s ongoing personal and business life.

What has been the biggest challenge you’ve dealt with over the past year?

My biggest challenge this past year has been to figure out new ways to communicate with clients and team members given the COVID restrictions. We seized the opportunity to master and incorporate new and existing technology to better communicate with our clients and each other, as well as to provide more effective and efficient service. The COVID restrictions really forced us to accelerate the use of technology.

What do you see as the biggest changes in the legal industry in the next 3-5 years?

To survive, lawyers will learn to better harness technology to handle repetitive and commodity tasks so they are free to focus on legal advice, strategy, creative solutions and counseling that brings value to our clients. This will involve accelerated use of technology, development of processes and project management. Change is tough, but invigorating!

What community organizations do you support as a volunteer and why?

I am on the board of Education Success Network, Inc and chair of its affiliated company, Encompass: Resources for Learning, Inc. We provide innovative educational services to students and to the families, schools, professionals and communities that support them. We reach 2,000 students in Monroe and Livingston counties with academic support during the school day, after school and summer programs, as well as college and career counseling. We also have navigators that layer supports and services to students and their families and remove obstacles to learning. In my view education and training is the key to a happy life and I feel privileged to be part of an organization so committed to reaching students and families who face challenges to accessing the educational resources they need.

What are you most looking forward to doing as COVID restrictions ease?

I would love to travel again, gaining fresh perspective from different people, cultures and surroundings.