So tell me about wills.

[Fuzzy14]

As I often say to my clients; the only good surprises are the ones you receive on your birthday.

Talk to your family about your estate so everyone knows 1) what people's job is and if they are willing and able to do that; 2) that it's okay for them to spend some money to get it done properly.

One of the best gifts you can give your kids is a smooth estate administration process. It's a difficult enough time as is.

[I-Hate-Hulse]

I'm trying to line up options for a probate lawyer in preparation of the inevitable for a parent.

A few posts back, Troutman talked about the fees involved with Probate

Originally Posted by troutman

Most lawyers refer to a fee schedule - $2250 + 1% gross value of estate. Some offices are willing to offer a discount or negotiate on the fee. Our minimum fee is $3000.

Can anyone recommend a probate lawyer who is willing to negotiate a reasonable fixed fee? I don't expect them to be $2,250, but the 1% of assets really escalates quickly. Estate would be relatively simple and uncontested.

Feel free to PM if preferred. Thanks!

[fotze2]

Originally Posted by I-Hate-Hulse

I'm trying to line up options for a probate lawyer in preparation of the inevitable for a parent.

A few posts back, Troutman talked about the fees involved with Probate



Can anyone recommend a probate lawyer who is willing to negotiate a reasonable fixed fee? I don't expect them to be $2,250, but the 1% of assets really escalates quickly. Estate would be relatively simple and uncontested.

Feel free to PM if preferred. Thanks!

Firebug. I cannot remember what it was but way less than I was expecting. Pretty sure I got a CP discount of some sort. Made it easy. Couple quick visits and done. i think it depended on the type of investments the estate had though as it was mostly cash.

I can PM his real life contact.

[Locke]

I swear this place is just crawling with Lawyers, Engineers and Accountants....

[gasman]

Originally Posted by I-Hate-Hulse

I'm trying to line up options for a probate lawyer in preparation of the inevitable for a parent.

A few posts back, Troutman talked about the fees involved with Probate



Can anyone recommend a probate lawyer who is willing to negotiate a reasonable fixed fee? I don't expect them to be $2,250, but the 1% of assets really escalates quickly. Estate would be relatively simple and uncontested.

Feel free to PM if preferred. Thanks!

If it is uncontested and simple, why do you need a lawyer.

Looks easy enough to do. I'm pretty anti lawyer at the moment, seem they don't really do much that Chat GPT can't handle, and my recent experience is that they screw up what little they actually do take on.

[fotze2]

Originally Posted by gasman

If it is uncontested and simple, why do you need a lawyer.

Looks easy enough to do. I'm pretty anti lawyer at the moment, seem they don't really do much that Chat GPT can't handle, and my recent experience is that they screw up what little they actually do take on.

If that's the case firebug will tell you advice on just that and challenges you might expect.

But get the will up to date before they croak. My parents had a will but pretty old school and the witnesses were all dead which made it a bit of a bitch.

Also if they (parents) don't mind get yourself added as co-signers to their bank accounts and evacuate the money immediately before the bank knows they are dead. I would have done that what I know now, my dad and other sibling would not have cared since they know I'd split it.

The will/probate stuff was easy in comparison to the hoops that TD made me go through.

[Sliver]

Originally Posted by fotze2

If that's the case firebug will tell you advice on just that and challenges you might expect.

But get the will up to date before they croak. My parents had a will but pretty old school and the witnesses were all dead which made it a bit of a bitch.

Also if they (parents) don't mind get your parents to get you added as co-signers to their bank accounts and evacuate the money immediately before the bank knows they are dead. I would have done that what I know now, my dad and other sibling would not have cared since they know I'd split it.

The will/probate stuff was easy in comparison to the hoops that TD made me go through.

Yeah having old people convert their accounts wherever possible to joint accounts is the best move. Saves so much hassle.

[Locke]

[troutman]

Originally Posted by gasman

If it is uncontested and simple, why do you need a lawyer.

Looks easy enough to do. I'm pretty anti lawyer at the moment, seem they don't really do much that Chat GPT can't handle, and my recent experience is that they screw up what little they actually do take on.

People can prepare the application themselves for sure. However, lawyers have access to the Surrogate Digital Service which will result in a much faster Grant.

[fotze2]

Originally Posted by troutman

People can prepare the application themselves for sure. However, lawyers have access to the Surrogate Digital Service which will result in a much faster Grant.

So its a Racket to keep the lawyers gamefully employed like the dairy cartel or MLS for realtors??? Haha

[DoubleF]

Originally Posted by Sliver

Yeah having old people convert their accounts wherever possible to joint accounts is the best move. Saves so much hassle.

Just make sure you select the correct one for certain assets for the situation. Otherwise it can create headaches too.

Joint ownership, JTWROS, tenancy in common, Joint for purposes of administration etc.

I don't know the nuances of each type, but I do know the wrong ones could unintentionally complicate things for certain situations.

[firebug]

Originally Posted by fotze2

Firebug. I cannot remember what it was but way less than I was expecting. Pretty sure I got a CP discount of some sort. Made it easy. Couple quick visits and done. i think it depended on the type of investments the estate had though as it was mostly cash.

I can PM his real life contact.

My quoted fees will depend on whether he thinks the flames should push for the playoffs or a top-10 draft pick...

[troutman]

Originally Posted by Sliver

Yeah having old people convert their accounts wherever possible to joint accounts is the best move. Saves so much hassle.

This often leads to elder abuse, and litigation over whether the joint account was intended as a gift or not.

[Sliver]

Originally Posted by troutman

This often leads to elder abuse, and litigation over whether the joint account was intended as a gift or not.

I don't doubt it. Would be shockingly easy to do.

My mom put me on as joint owner of all of her investments. When she died, the investment advisor told me they were mine and I didn't have to include them in any disbursements to the beneficiaries. I'm like, 'dude, you were there when we made these joint...that's the exact opposite of her intentions...fk you.' Yanked all the money out of there and distributed per her intentions and Will as though it wasn't mine (since it morally/ethically wasn't).

I was also the executor for my uncle and we did the same thing.

Would be a shame to be unable to trust your executor, but you're right that people can be giant POSs, so your advice is better than mine (obviously!).

[fotze2]

Originally Posted by troutman

This often leads to elder abuse, and litigation over whether the joint account was intended as a gift or not.

I know worst case scenario is your job but it may also not do that. My wife got herself for his chequing account so she could pay his bills and rent and doing taxes and paying realtors and all that for years. She abused herself with that honor.

Obviously you need to have a trust in people and some people don't have families littered with pieces of crap humans.

You hear these horror stories and I seriously cannot think of anyone, even distant, relatives who would pull any of the stuff you guys talk about.

[5abi]

We are going on holidays next Friday, is it possible to complete a will by then?

[firebug]

Originally Posted by 5abi

We are going on holidays next Friday, is it possible to complete a will by then?

Pushing it... but possible if your schedule is flexible.

[5abi]

Originally Posted by firebug

Pushing it... but possible if your schedule is flexible.

Could something be put in place to make sure our kids go where we want them?

We really delayed this will too much.

[Geraldsh]

In the absence of any other will, would a hand written letter signed and co-signed by the spouse be any benefit to the kids’?

[firebug]

Originally Posted by 5abi

Could something be put in place to make sure our kids go where we want them?

We really delayed this will too much.

Most professionally drafted wills include a guardianship provision along with a testamentary trust for minors.