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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. We spoke with a small law firm. Turns out we don't need a trust and can go the will route. Total price:

Last Will and Testament - $650
Power of Attorney (Couple) - $175
Medical Directive (Couple) - $175
Total Cost of Estate Plan - $1000[/quote]

Yeah, most people with holdings like yours (one house, basic retirement accounts) don't need a trust. People on DCUM who respond to posts like this are disproportionally richer, with more complex holdings, so you will see more responses of people who should probably have a trust.  Most people don't need one.[/quote]

We have a NW of est $15M and our attorney continues to assure us we don't need a trust.  The attorney is estate planning specialists, well regarded so we trust her.  [/quote]

This board is very anti-trust. If you want to your kids to deal with probate and have creditors or spouses come after them then you do you. [/quote]

Why would someone with $15 million have creditors?  And avoiding probate is very simple with things like setting up beneficiaries for your accounts. If you want a trust, go for it!  As stated above, for most people with adult children and basic asset types, it's not necessary.[/quote]

You do know probate costs $$. It's a percentage of your estate, depending on what state you live in around 4-7%. Does PP want to lose $750K and the time to do probate. I like to do a cost benefit analysis, including time, so for me a trust is the clear winner. [/quote]

Why would investment accounts with beneficiaries designated go into probate?  It's filling out an online form that takes 30 seconds. I don't know why the constant claim that the only way to avoid probate is a trust.[/quote]

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