Reply to Cost of Estate Planning

Forum Index » Money and Finances

Reply to "Cost of Estate Planning"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I'm an estate planning attorney in a very small firm. I charge $1000 for wills, powers of attorney, and medical directives for a couple - so 6 docs. I charge $2000 if you want to do those 6 docs plus revocable trusts. I agree with the previous posters, though, that in today's estate tax world revocable trusts aren't needed for most people. I actively dissuade my clients from them except for certain circumstances like 2nd marriages, property in multiple states, high net worth, etc. [b]Too many people get revocable trusts then don't retitle assets into them so its a big fat waste of time and money.[/b][/quote]

I've never understood this phenomenon. Why pay an attorney to create a living trust and not put your biggest asset (the house) in it? And why don't attorneys just do it as part of the package?

My mother did a whole living trust package from a local firm that advertises a lot and offers free lunches. My sibling or I suggested it probably wasn't necessary but she didn't really want us involved. We never saw it until she had a health scare and handed us a file with all the paperwork.  The forms were drafted competently enough, but she did not understand she had to do anything to fund the living trust. Now if only we can convince her to spend every penny she has and not penny pinch to leave an inheritance! 
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics