revocable trust
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Revocable Living Trust
Asked by M.A. from Detroit
on November 12, 2010
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Do you or your family have one? Did you have to go through an attorney? Cost? Any free paperwork/website?
I have been looking into getting one for awhile, as I a...
Answers
- You should get the advice of a lawyer, a CPA if nothing else, just to make sure everything is ironed out the way you want it to be.
- You should go through a lawyer. It will cost you between $400 - $1,000 depending on how complicated your situation is. But if you don't, your kids will spend thousan...
- Hi M.---It would be best to have legal counsel. Your financial planner, if you have one, could help to recommend some ideas. One thing that we had stipulated was tha...
HELP, Need Advice on Living Trust
Asked by M.T. from Chicago
on July 14, 2011
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What are the benefits of establishing a Living Trust for my father? My mom recently passed away and my dad has been changing all his accounts to include mine and my ...
Answers
- I don't know that it's a very good idea for your father to put you and your sister as joint account holders on his accounts and on the title of your house. If any...
- He may be trying to protect his assets in case he needs to go into a nursing home or assisted living. A nursing home costs $5000/month and assisted living costs $2500...
- I'm sorry for your loss...I've not lost my parents (thank God) so I can't imagine your pain and emptiness!!! I can't help you with this one...but I can tell you I'm...
Reasonable Attorney Fees?
Asked by L.F. from Chicago
on March 20, 2010
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Hi moms! My husband and I I just met with an attorney to discuss setting up the following:
power of attorney - health care and financial
family trust - revocable ...
Answers
- My husband and I are slogging through this now with a lawyer we really like, and she said it would be around $1500-$2500, depending largely on the time involved, i.e,...
- That seems really high to me - get a few more quotes. My attorney charges $250 per hour.
- Hi Due to the economic climate in American today, you along with so many other Americans are searching for reasonable legal representation. People want to take a step...
Setting up a Will/trust
Asked by T.K. from Honolulu
on February 7, 2007
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Hello,
I'm a single mom w/ one 9-year-old son. I'd like to hear from anyone w/advice about setting up a will & trust for him. I understand that natural guardiansh...
Answers
- If you find a cheap way to do this would you let me know? I am in a similar situation ( 23 yr old dtr & 3 yr old son. Thank you! T.
- Hi T., It's a great idea you have to set up a trust. I did mine last year, and I am very relieved to have it all in order. A trust is set up with 2 areas: physical cu...
- Hi T., You should contact an estate planning attorney and have a trust set up for your son. You can designate who the trustee is of the trust, i.e. you while you'r...
Your Will- How to Provide for Kids
Asked by K.W. from Los Angeles
on February 18, 2012
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So I'm sure I could pay some one to advise me on this, but it's kindof a philosophical question and I think I trust your opinions more!
My husband and I have been pro...
Answers
- My will is with my attorney-and I have a copy. Don't leave the people that will raise your children carte blanche access to your assets! You have to appoint a Personal...
- Even when I was a single mom I carried enough life insurance to pay off the house so that they didn't inherit debt. The rest is spelled out in my trust. The last...
- You have to give a copy to a close friend or family member and you have to give a copy to the person(s) that are the ones receiving your children. You leave one perso...
Will/Trust
Asked by M.H. from Kansas City
on June 29, 2009
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I have an 8 month old son and am wanting to put something in place for him, in case something should happen to me and my husband. Should we do a Will or a trust? Als...
Answers
- Good morning. I used Craig Reaves at Reaves Law Firm to do exactly the same thing. He explains that Wills or people who have lots of money and posessions. Trusts o...
- Good Morning M.. Your really thinking ahead, which will be good in the long run. We made a will a long time ago. In fact I think it was in 1980..lol Since then the law...
- I would highly recommend the law firm of Schlagel Gordon & Kinzer in Olathe. This is who we use for everything, and they specialize in this. Very good people - church...
Writing a Will
Asked by M.E. from Philadelphia
on April 29, 2011
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My husband and I realize we need to write wills to provide for our 2 young children if something should happen to both of us. But as I'm trying to research how to get ...
Answers
- Hi M., we must be on the same wavelength...I recently called a few lawyers in the Collegeville area and decided to go with King Laird (on Main Street). They sent me a ...
- The advantage of a trust over a will is that a trust places all of your assets in a trust and if you die probate is avoided. If your estate goes through probate there...
- Our financial advisor gave us software called "Family Lawyer" I think it is simple and inexpensive. It might be what you are looking for!
Preparing a Will
Asked by J. from Minneapolis
on January 19, 2007
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I know that once you have children it becomes important to have a will prepared so that your children will be well taken care of if something happens. I don't want my...
Answers
- My husband and I just went through the process of having a lawyer draw up separate wills, POA, healthcare directives and a revocable living trust. The whole thing cos...
- I've heard that some of these forms, like living wills, etc...you can get at the library(big ones, like minneapolis, not small brances). That might be a start as to w...
- My husband had legal insurance through his job, so we just used the closest lawyer that was part of the program, so I can't really help you with choosing a low-cost la...
Wills - Why So Expensive??
Asked by K.L. from Washington DC
on September 21, 2011
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Has anyone done a will online? Or used Suze Orman's $29.99 will from her website? We spoke with an attorney yesterday about drawing up our will, and were told it wou...
Answers
- We drew up our own based on ones we found online and then went to a notary public and had him sign multiple copies. We then gave signed copies to my sister (who'd get ...
- K. - I am a financial planner and I do work with estate lawyers on estate planning. Basically, unless you and your husband have basically nothing - then you do nee...
- It's expensive BECAUSE you have children and want to "recommend" who will raise them in the event it is necessary (the court can actually disregard your wishes if the...
Will and Powers of Attorney
Asked by S.M. from Denver
on March 7, 2011
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I recently went to a short presentation about estate planning and was wondering if $500 to prepare wills and durable powers of attorney for my spouse and I is a good d...
Answers
- I can't address your question about cost for wills and powers of attorney - I think the price also depends on the cost for legal work in your area. We live in Illinoi...
- I think that you also need a trust, which you really can't do on your own and for which $500 sounds reasonable (mine was $1000 10 year ago but things tend to be expens...
- Don't use a computer program. Go to a good lawyer and make sure that you are protected. If you have children, you need to distribute your assets, name guardians, hav...
