| Actual for You |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Finance > Estate Plan Trusts > Will or Trust? The Wrong Choice Could Cost Thousands |
|
Actual for You - Will or Trust? The Wrong Choice Could Cost Thousands
List Building - Why is a Squeeze Page so Effective? s prefer to draft a simple will rather than spend the time and effort creating and funding a trust.What is a squeeze page? A squeeze page is a web page that has as its only purpose the opting in of opt in subscribers. A squeeze page should have no other outbound links.When a squeeze page has outbound links, you will find that the opt in rate goes down significantly. Once you have more than another link or two, it would be hard to even think of it as a squeez No Court or Attorneys Required With A Trust Remember that the average trust costs $2,000 to $2,500
to set up, but there’s no probate. A trust eliminates the total cost of
probate and that po But wait, there is more to it! You don't have to be a CPA to figure that it costs five times more to set up the average trust than the average will. The key words here are “set up.” The prices I just quoted are for exactly that—“setting up” your will or trust. Those up-front costs don’t include the cost of administering your wishes after your death. Probate Fees Please Attorneys When you die, what does it cost to carry out your carefully laid plans? Many people believe it’s simply the cost to create the document that plans their estate: their will or trust. If your attorney draws up a will for you, it may cost $400. However, upon your death, your estate goes through the probate process. The fees for settling your estate could easily reach $10,000 (the average cost of probate). Now the total cost of settling your estate isn’t $400—it’s a whopping $10,400. This explains why a will is one of the most expensive legal documents in this country and why many attorneys prefer to draft a simple will rather than spend the time and effort creating and funding a trust. No Court or Attorneys Required With A Trust Remember that the average trust costs $2,000 to $2,500
to set up, but there’s no probate. A trust eliminates the total cost of
probate and that pot Probate Fees Please Attorneys When you die, what does it cost to carry out your carefully laid plans? Many people believe it’s simply the cost to create the document that plans their estate: their will or trust. If your attorney draws up a will for you, it may cost $400. However, upon your death, your estate goes through the probate process. The fees for settling your estate could easily reach $10,000 (the average cost of probate). Now the total cost of settling your estate isn’t $400—it’s a whopping $10,400. This explains why a will is one of the most expensive legal documents in this country and why many attorneys prefer to draft a simple will rather than spend the time and effort creating and funding a trust. No Court or Attorneys Required With A Trust Remember that the average trust costs $2,000 to $2,500
to set up, but there’s no probate. A trust eliminates the total cost of
probate and that po When you die, what does it cost to carry out your carefully laid plans? Many people believe it’s simply the cost to create the document that plans their estate: their will or trust. If your attorney draws up a will for you, it may cost $400. However, upon your death, your estate goes through the probate process. The fees for settling your estate could easily reach $10,000 (the average cost of probate). Now the total cost of settling your estate isn’t $400—it’s a whopping $10,400. This explains why a will is one of the most expensive legal documents in this country and why many attorneys prefer to draft a simple will rather than spend the time and effort creating and funding a trust. No Court or Attorneys Required With A Trust Remember that the average trust costs $2,000 to $2,500
to set up, but there’s no probate. A trust eliminates the total cost of
probate and that po The fees for settling your estate could easily reach $10,000 (the average cost of probate). Now the total cost of settling your estate isn’t $400—it’s a whopping $10,400. This explains why a will is one of the most expensive legal documents in this country and why many attorneys prefer to draft a simple will rather than spend the time and effort creating and funding a trust. No Court or Attorneys Required With A Trust Remember that the average trust costs $2,000 to $2,500
to set up, but there’s no probate. A trust eliminates the total cost of
probate and that po No Court or Attorneys Required With A Trust Remember that the average trust costs $2,000 to $2,500 to set up, but there’s no probate. A trust eliminates the total cost of probate and that potential $10,000 probate fee. Your successor trustee has the immediate right to distribute your property according to the plan described in your trust. He doesn’t have to go to a court or even hire an attorney to settle the estate. Your successor trustee might feel unsure about how to distribute your property according to your trust and want to have some counsel and advice. Often, the successor trustee will go to an attorney to review the trust document and learn how to proceed. Let’s assume this happens. The attorney visits with the successor trustee and may prepare some transfer documents. The attorney charges a few hundred dollars for this service. (The average fee to review and help settle an estate with a trust is about $500.) Now the total cost of your estate plan is $2,500. Compare this to using a will for your estate plan, which would cost $10,400. Again, it doesn’t take a CPA to figure out that a will actually costs four times more than a trust! Most Likely to Be Contested, High Costs to Settle Remember, of all legal documents, a will is the most likely to be contested. A will is also one of the most expensive legal documents because of the total costs to settle
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:How The Rich Use Private Equity Investing To Increase Their Wealth Which Newsletter Format Should I Use? Text, HTML or PDF? Resale Rights - Are You Making These Three Mistakes?
|