how much for will / estate planning?

[carlsbadworker]

I am doing some research on this recently and based on my preliminary reading, you don’t need living trust at all.

You don’t need and sometimes cannot put retirement savings in the living trust, naming a beneficiary will allow the money to be transferred at death without probate. The only reason to put the retirement fund into trust is to form an AB trust, but you don’t have enough assets to do so.

Brokerage account can be held in joint accounts, unless for the unlikely event that both you and your wife die at the same time.

For term life insurance, the beneficiary can also receive the proceeds outside of probate. Again, you only need trust if you and your wife die at the same time and the proceed cannot be paid until your children became legal adults (i.e. naming a trustee becomes necessary).

Home equity is the only thing worth protecting in your case. And $1,000 for $50,000 is really an unfavorable odd, unless you are planning some extreme risky activities in the near term.

Disclaimer: I am not a lawyer and cannot offer legal advice.

[XBoxBoy]

$450 seems downright cheap. $1000 dollars seems quite fair. When my wife and I did this, (we also had an AB trust done) we paid $1400. Other attorney’s quoted us more.

One suggestion. When naming your trust, pick something something short and sweet, that will work for you in the future. The “Reginald Henry Snodgrass and Catherine Mary Wimpleton 2011 revocable trust” is the kind of name your attorney will default to. Instead use something simple like “Bonzos Trust”, or anything, bu simple short and something that does not include your name is helpful from my experience.

Oh yeah, Be sure there are specific simple instructions for amending the trust.

[XBoxBoy]

$450 seems downright cheap. $1000 dollars seems quite fair. When my wife and I did this, (we also had an AB trust done) we paid $1400. Other attorney’s quoted us more.

One suggestion. When naming your trust, pick something something short and sweet, that will work for you in the future. The “Reginald Henry Snodgrass and Catherine Mary Wimpleton 2011 revocable trust” is the kind of name your attorney will default to. Instead use something simple like “Bonzos Trust”, or anything, bu simple short and something that does not include your name is helpful from my experience.

Oh yeah, Be sure there are specific simple instructions for amending the trust.

[XBoxBoy]

$450 seems downright cheap. $1000 dollars seems quite fair. When my wife and I did this, (we also had an AB trust done) we paid $1400. Other attorney’s quoted us more.

One suggestion. When naming your trust, pick something something short and sweet, that will work for you in the future. The “Reginald Henry Snodgrass and Catherine Mary Wimpleton 2011 revocable trust” is the kind of name your attorney will default to. Instead use something simple like “Bonzos Trust”, or anything, bu simple short and something that does not include your name is helpful from my experience.

Oh yeah, Be sure there are specific simple instructions for amending the trust.

[XBoxBoy]

$450 seems downright cheap. $1000 dollars seems quite fair. When my wife and I did this, (we also had an AB trust done) we paid $1400. Other attorney’s quoted us more.

One suggestion. When naming your trust, pick something something short and sweet, that will work for you in the future. The “Reginald Henry Snodgrass and Catherine Mary Wimpleton 2011 revocable trust” is the kind of name your attorney will default to. Instead use something simple like “Bonzos Trust”, or anything, bu simple short and something that does not include your name is helpful from my experience.

Oh yeah, Be sure there are specific simple instructions for amending the trust.

[XBoxBoy]

$450 seems downright cheap. $1000 dollars seems quite fair. When my wife and I did this, (we also had an AB trust done) we paid $1400. Other attorney’s quoted us more.

One suggestion. When naming your trust, pick something something short and sweet, that will work for you in the future. The “Reginald Henry Snodgrass and Catherine Mary Wimpleton 2011 revocable trust” is the kind of name your attorney will default to. Instead use something simple like “Bonzos Trust”, or anything, bu simple short and something that does not include your name is helpful from my experience.

Oh yeah, Be sure there are specific simple instructions for amending the trust.

[Jazzman]

$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.

[Jazzman]

$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.

[Jazzman]

$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.

[Jazzman]

$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.

[Jazzman]

$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.

[UCGal]

[quote=Jazzman]$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.[/quote]
I agree with this. The big advantage a trust has is getting rid of probate for assets held by the trust.

But most people fail to transfer their assets into the trust. (bank accounts, etc.)

[UCGal]

[quote=Jazzman]$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.[/quote]
I agree with this. The big advantage a trust has is getting rid of probate for assets held by the trust.

But most people fail to transfer their assets into the trust. (bank accounts, etc.)

[UCGal]

[quote=Jazzman]$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.[/quote]
I agree with this. The big advantage a trust has is getting rid of probate for assets held by the trust.

But most people fail to transfer their assets into the trust. (bank accounts, etc.)

[UCGal]

[quote=Jazzman]$1000 is expensive, but it what attorneys charge. The question is, do you need a living trust? They are usually for estates of $2m upwards. A Will is essential, more straight forward and cheaper.[/quote]
I agree with this. The big advantage a trust has is getting rid of probate for assets held by the trust.

But most people fail to transfer their assets into the trust. (bank accounts, etc.)

[Author]

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