Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
OP, more important than how much money you leave behind for the care of your new pet (I would not adopt a baby animal at your age when so many senior dogs and cats need homes, but just me...) is WHO is going to provide that care. Have you arranged for a custodian, and do you have complete trust in him or her? I know of a case in which every one of the lady's pets ended up in the shelter the next day, although she'd left funds and assigned a caregiver for them. So please be very careful there.
Second... I am NOT paying $2-5k for a will, so what are the cheaper alternatives? I've read that you can hand write one yourself as long as it's witnessed by two people. FOR FREE! The question is where and with whom do you leave it to ensure your wishes are carried out? I'm not leaving it to my spendthrift relatives, but to animal rescue instead, and I do NOT want them coming across it.
I actually have one (as I recall, I paid about $300 ten years ago) and left it with the lawyer I hired to write it up, but he has since died, and his firm closed. I have no idea where it is now if anywhere; my state bar association wasn't any help. I do still have my copy of it...
Any ideas, attorneys?
Why would attorneys give you advice on how to not use an attorney?
check out legalzoom.com as a start. I'm not sure of the costs.
For updating wills, financial power of attorney, and health care power of attorney for me, DH, and DS who is an adult I was quoted $2700 ($300 per document). We didn't end up going with the guy though.
Ours was a straight forward situation, and we did these ourselves instead, purchasing Quicken Willmaker and Trust (We didn't do a trust - just the other three documents for each of us.). When we were done with the documents, we made an appointment with our bank to go in and get everything notarized and got two of my son's friends to come in with us to be witnesses. After the session we took everyone out to lunch. The online program (think it's a littler higher now) at the time cost about $80.
I thought the online software was thorough and intuitive. It was a highly rated software package at the top of many different online willmaker reviewer lists. It had a provision for pet in it too and we put that in for our dog -- who he would go to and a monetary amount that would go to that person too.
Just looked up the price and it's $139.99. Have to check it out.
What I think really goes on with some people is that its not that they cannot afford estate planning services. Its that they resent having to pay for them and they look for a way to avoid it. ... Estate planning is not a time when you want to do a half-assed job. You want to do it right even it does cost a bit.
The time most people discover that their estate planning was half-assed is after they are dead, so to speak, and documents are challenged in court and found to have severe defects.
There is an old saying:
"Quality is a lot like oats. If you want quality oats, expect to pay a fair price. If, on the other hand, you are willing to settle for oats that have already been processed by a horse, you can get a discount."
So far my $750 seems the cheapest on here for those who have used human lawyers.
My experience with lawyers and wills is that many price their will-writing cost low and make it up assisting and charging the survivors to get the estate settled.
Trusts, however, are more expensive up front, meaning the trust owners pay a larger bill to set the trust up.
There is no processing of a trust through the state after death so not much money making by lawyers unless the trust inheritors need help.
However some law firms are quite good getting paid before and after.
An in-law had a top estate firm write his trust and will and charged him quite a lot. He told his heirs he did this so they wouldn't have to pay anything after his death except taxes. Hah.
That same lawyer charged the maximum the state allowed to handle his estate.
State maximum attorney fees are based on the total value of the estate.
Just for shts and giggles, I called my state bar association again (it had been a while since I first asked). I explained that the lawyer had died, his office had permanently closed, the number was disconnected, and the building was sold. The woman answering the phone then asked, "Can you call his office? Did he have a secretary? Can you go there?" (all "no," as I had just explained) "Do you know who took it over?" (that's what I'm calling to ask YOU) Then, "Try probate." What? I explained that it's my will, and I'm still alive. What do you mean "try probate"? "That's just what they tell us to say." I asked for someone higher up, but they were all in a meeting. They were supposed to call me back, but didn't.
My experience with lawyers and wills is that many price their will-writing cost low and make it up assisting and charging the survivors to get the estate settled.
Trusts, however, are more expensive up front, meaning the trust owners pay a larger bill to set the trust up.
There is no processing of a trust through the state after death so not much money making by lawyers unless the trust inheritors need help.
However some law firms are quite good getting paid before and after.
An in-law had a top estate firm write his trust and will and charged him quite a lot. He told his heirs he did this so they wouldn't have to pay anything after his death except taxes. Hah.
That same lawyer charged the maximum the state allowed to handle his estate.
State maximum attorney fees are based on the total value of the estate.
Given that the retired lawyer who did my will is 77, 12 years my senior, she's taking a gamble on waiting to get the big bucks when daughter inherits whatever may exist.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
