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Money and Finances
Reply to "Estate planning - what type of trust?"
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[quote=Anonymous]Honestly, you shouldn't be paying an hourly rate for an estate attorney. This is an area of law where all the basic documents should be done for a fixed fee. If you have some additional complicated issues, those could be charged at an hourly rate, but I think it is a red flag if a lawyer is charging you hourly for the essential estate documents. The amount of money you have doesn't make the documents any more complex, it just makes the tax issues more complicated. We have a lot of assets (millions) and minor children. Our lawyer is setting up both revocable (while we are living) and irrevocable trusts (for the kids in the event of our death). One of the benefits of a trust is that it keeps your finances out of probate and the public eye. Wills go through probate and all the information is publicly available. Trusts ensure privacy to your personal business. [/quote]
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