Estate planning

eelgrass · Jan 31, 2019

I was thinking of setting up some kind of trust to avoid probate if and when we die. I was quoted 'approx.' $4200. Whaaaaaatt????? To fill out a couple papers?

Is it worth it?

Homer · Jan 31, 2019

way too much eel....

$1500 for a trust is typical here

GOODWIN: Dems really do love Republicans -- when they're dead...

264mag · Jan 31, 2019

Why pay ? Our Governor will do it for you ?

Snoopdogg · Jan 31, 2019

>way too much eel....
>
>
>$1500 for a trust is typical
>here
>
>
>

>GOODWIN: Dems really do love Republicans
>-- when they're dead...

That's what we paid in Cali about 15 years ago. $4,200?????

RELH · Jan 31, 2019

Eel shop around in your area for a better price. Attorneys are expensive, That I know since we have used one to set up our trust to protect our kid's inheritance.

I am not sure if it can be done by a para-legal. If it can they charge far less then a attorney.

RELH

DeerMadness · Jan 31, 2019

After some more socialists getting in office we won't even have estates. They will take it all away to give to those who won't work.

Wiszard · Jan 31, 2019

LAST EDITED ON Jan-31-19 AT 04:54PM (MST)[p]We are going through it right now and are paying $800. That includes the transfer fees for 2 properties. Pm me and I will give you his number. He's an old school guy here in Santa Maria. Might be worth the drive for you. Or, you can do everything via email and then mobile notary. $4200? They THINK they saw you a mile away....

edit- By estate planning I am assuming you mean a legal trust.

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eelgrass · Jan 31, 2019

PM sent Wisz.

1911 · Jan 31, 2019

You?d have to be pretty complex to justify that kind of money for setting up a trust. Depending on how many kids you have and whether or not they will bicker of things, there are a few easy steps you can take to avoid a trust altogether in many cases. A trust solves most of that but requires a good executor that can be trusted. I will say this, people get a side to them seldom seen before when money and tangible inheritance is involved. Some handle it ok others go Dr Jekyll to mr Hyde.

eelgrass · Jan 31, 2019

there are a few easy steps you can take to avoid a trust altogether in many cases.

Thanks 1911, I might be over thinking this whole thing. No fighting or hurt feelings as there is only one kid.

1911 · Jan 31, 2019

With one kid you would be able to easily avoid a trust altogether. As long as you don't worry about him/her absconding with your money too soon. Just put their name in the tittle I?f houses and cars, add them as a signer on any stock holdings or retirement accounts, bank accounts and you are golden. With current laws as far as death tax you're golden unless your transferable exceeds at least five million and maybe ten. I think you get five credit for sure and that may be five for you plus your spouse before estate taxation kicks in. Of course, with or without a trust you'd get hit with estate tax. Don?t let some estate planner hustle you out of five large. It is entirely unnecessary in your case and over priced even if it was.

eelgrass · Feb 1, 2019

>With one kid you would be
>able to easily avoid a
>trust altogether. As
>long as you don't worry
>about him/her absconding with your
>money too soon. Just
>put their name in the
>tittle I?f houses and cars,
>add them as a signer
>on any stock holdings or
>retirement accounts, bank accounts and
>you are golden. With
>current laws as far as
>death tax you're golden unless
>your transferable exceeds at least
>five million and maybe ten.
> I think you get
>five credit for sure and
>that may be five for
>you plus your spouse before
>estate taxation kicks in.
>Of course, with or without
>a trust you'd get hit
>with estate tax. Don?t
>let some estate planner hustle
>you out of five large.
> It is entirely unnecessary
>in your case and over
>priced even if it was.
>
>

Thanks! I think we can just barely squeak by under the $5-$10 million mark.