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How do you really know if you were able to protect them or not? I'm not trying to be argumentative, nor snarky, but I have a somewhat complicated situation, and much like the OP, I'm always a bit cautious about whom to trust with my will and estate planning. It's one thing to "feel" like they're protected, but how does one know if they are still alive (eg: If we haven't died, the will has not been tested).
I've heard nightmares about shoddy planning that ended up going to a child in need, who ends up getting disqualified for any benefits because of the infusion of money, which then all gets taken for medical bills until they are broke again.
I "think" I had a good plan in place. But now my daughter is adult aged, and I have to do it all over again. I don't want her to get any amount of money that will harm her, yet I DO want her to be looked after when I am gone. It's very difficult, especially since none (very few) of us have any real expertise in these legal matters.
I think the poster meant they set up a trust. I'm not really sure "protect" is the right word - althought I think a trust can make things easier as far as avoiding probate. Maybe I'm misunderstanding....
I wouldn't do it online. Hire a NC based attorney so everything is appropriate to NC estate laws.
On-line programs/apps like WillMaker are legal/appropriate to all states (except maybe Louisiana). I would get a copy of it and fill it out like you were doing a will. It will at least make you start thinking about the various things you have to consider, and will be much cheaper than paying a lawyer to explain things. You can then go to a lawyer to have things drawn up.
I am a member of SECU, but have not used their legal services.
How do you really know if you were able to protect them or not? I'm not trying to be argumentative, nor snarky, but I have a somewhat complicated situation, and much like the OP, I'm always a bit cautious about whom to trust with my will and estate planning. It's one thing to "feel" like they're protected, but how does one know if they are still alive (eg: If we haven't died, the will has not been tested).
I've heard nightmares about shoddy planning that ended up going to a child in need, who ends up getting disqualified for any benefits because of the infusion of money, which then all gets taken for medical bills until they are broke again.
I "think" I had a good plan in place. But now my daughter is adult aged, and I have to do it all over again. I don't want her to get any amount of money that will harm her, yet I DO want her to be looked after when I am gone. It's very difficult, especially since none (very few) of us have any real expertise in these legal matters.
If you have a child that will need to be taken care of once you pass, then you should set up a special needs trust for them, and have your will move your money into the trust. Make sure you have a trustee you can trust to manage the account.
How do you really know if you were able to protect them or not? I'm not trying to be argumentative, nor snarky, but I have a somewhat complicated situation, and much like the OP, I'm always a bit cautious about whom to trust with my will and estate planning. It's one thing to "feel" like they're protected, but how does one know if they are still alive (eg: If we haven't died, the will has not been tested).
I've heard nightmares about shoddy planning that ended up going to a child in need, who ends up getting disqualified for any benefits because of the infusion of money, which then all gets taken for medical bills until they are broke again.
I "think" I had a good plan in place. But now my daughter is adult aged, and I have to do it all over again. I don't want her to get any amount of money that will harm her, yet I DO want her to be looked after when I am gone. It's very difficult, especially since none (very few) of us have any real expertise in these legal matters.
Nothing is 100% but we do feel we made reasonable decisions to help our kids if something happens to both of us while they they are still young. We have a 10,8 & 3 year old who has developmental delays & is possibly autistic plus their father is a POS meth head & completely irresponsible. We chose the law firm that drafted our plan to act as executor & let our grown children have a copy of it so they know what our wishes are
Good discussion. Appreciate all the feedback. I have only started my research and was simply curious if anybody had used the NC SECU estate planning service and if they were happy with the results.
I certainly don't think $450 for a will is "Big Money" but I also don't have a sense for how much it would cost if I went private attorney/estate planner. I'm assuming our situation is pretty basic and wouldn't be complicated to sort through. Just me and my wife. No Kids. A house, two cars, joint brokerage account and a few tax-advantaged retirement accounts. Still have a decade + until retirement. Pension and Life insurance already squared away w/ primary and secondary beneficiaries identified.
Good discussion. Appreciate all the feedback. I have only started my research and was simply curious if anybody had used the NC SECU estate planning service and if they were happy with the results.
I certainly don't think $450 for a will is "Big Money" but I also don't have a sense for how much it would cost if I went private attorney/estate planner. I'm assuming our situation is pretty basic and wouldn't be complicated to sort through. Just me and my wife. No Kids. A house, two cars, joint brokerage account and a few tax-advantaged retirement accounts. Still have a decade + until retirement. Pension and Life insurance already squared away w/ primary and secondary beneficiaries identified.
We paid quite a bit more than $450, but it was money well-spent. He gave us all the time we wanted, answered tons of questions, and the follow-up was great.
Living wills, so we can pull the plug on each other, and have appointed other parties for that in case one of us shuffles off first..... etc.
$1800 I think, a few years ago, but I would defer to him to quote his own fees.
I tend to want someone who specializes in legal stuff, rather than a jack-of-all-trades.
We paid quite a bit more than $450, but it was money well-spent. He gave us all the time we wanted, answered tons of questions, and the follow-up was great.
Living wills, so we can pull the plug on each other, and have appointed other parties for that in case one of us shuffles off first..... etc.
$1800 I think, a few years ago, but I would defer to him to quote his own fees.
I tend to want someone who specializes in legal stuff, rather than a jack-of-all-trades.
SECU is hardly a "jack-of-all-trades". They offer a host of professional financial planning and legal advice services for very reasonable prices. For members. Not for profit. If you don't have kids or other dependents, they can do what any other "high priced" attorneys or financial planners for much less. If you have kids, they can do the same.
On the other hand, if you have "special needs" children like I do, I would recommend you seeking someone who specializes in this, rather than SECU.
I am an SECU employee. The attorneys participating in the Estate Planning Essentials Program are not employees or agents of the Credit Union.
I think this is a cogent point. So, they are paying SECU for leads?
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