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My first post and first time coming to this site (not sure if this is the correct thread for this post so forgive me if misplaced). My question pertains to developing a will and living trust. Would using a software program such as Quicken Will Maker/Living Trust Maker or using a website such as Legal zoom be just as good as hiring an attorney to complete the task? I live in the state of California.
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dont have any experience with doing it myself but i do know the trust gets recorded at the county and deeds for all properties must be re titled for the trust. my attorney charged me $1200 and took care of all the recordingsretired in 2009 at the age of 39 with less than 300K total net worth -
No.Originally posted by QuarterMillionMan View Post
In some instances, they may be "better than nothing."
For reference, I tried this route and eventually went with an attorney. She pointed out all the devastating consequences I could have unintendedly put in motion with the computerized will. Honestly, it was kind of horrifying. Likewise, you really need a state specific will.
I an in a field where I deal with higher wealth individuals and their estate taxes and such. I have since seen so many horror stories, I would never go cheap on a will (or anything legal, for that matter). If you pay $1000 up front to do it RIGHT you will likely save your heirs thousands of dollars and tons of heartache down the road. I could go on and on and on and on.
On the flip side, if you have no kids, nothing complicated, everything is pretty plain (like you are single and don't own any real estate), then I am sure some Quicken type will is fine. IT's just amazing how complicated it can become in relatively simple situations. Kids, real estate, marriage, will all make things complex enough for a professional.Comment
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ditto MonkeyMamaComment
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As much as I hate to admit it, attorneys are expensive because they are worth the expense.Comment
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My situation is pretty simplistic, no kids, single and never been married. The most complex thing will entail putting my real property into the trust (currently solely under my own name). With that said these are the approximate cost I researched;
1) Quicken Will Maker, $45. Quicken Trust Maker, $65
2) LegalZoom will maker, $150. LegalZoom Trust Maker, $400.
3) Attorney to make a will & living trust, $1000 to $2000.
I'm sure an attorney will produce the best product but I'm tempted to go with the cheapest route. My thinking is that anything is better than nothing, at least for now. If the cheapest product doesn't turn out to my liking I may do a revocation and subsequently pay a professional attorney. At least I'll have most of the basics taken care of as well.Comment
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I don't have any personal experience making one but my parents have told me they used an attorney for a trust and it is a big relief to me already even while they are still living that everything is taken care of and I don't have a headache to look forward to.Comment
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My experience is the opposite. I bought a Will document pkg at the local stationery, and following their outline wrote and rewrote wills for DH and I until I was satisfied with the result. Finally printed it on the document provided. Noticed 'Living Will' on line and likewise prepared that document. I took the documents to our lawyer for review and to provide the necessary Notarizing [signature/stamps]. The lawyer didn't see any need for changes, added one word, asked staff to witness signatures and notarized all four documents. He has a copy on file, I have the originals in our safe and the Executor has an envelop with copies plus Power of Attorney for financial decisions with a codicil for Living Will decisions.
The lawyer charged $50. for Notarizing services.Comment
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Completed my will & revocable living trust
Just thought I'd give you guys an update. I ordered and received the Quicken will maker 2013, it included a revocable living trust maker as well. Total cost was about $50 (CD version, not downloaded). In my opinion it was fairly simple and straight forward to complete. I've completed the will and revocable living trust in about 2 hours all together. My estate planning is quite simple and not complicated, I'm single (never married) with no kids. I have 2 brothers who share equally as executors/successor trustees of my estate. I will have to get the documents notorized. Also, a previous poster was correct in that I will also need to transfer my title of my condominium into the trust. I foresee this aspect as the most complicated component being that the property is located in Hawaii, and I live in Los Angeles. I've called the Hawaii State Bureau of conveyances to inquire about transferring and all they could tell me was to contact a lawyer. I'm wishing I won't need a lawyer (does anyone know about these things)? Other than that upon my death (I hope decades from now, lol)my brothers will either be thanking me for the money I've saved on attorney fees or if the will/revocable living trust doesn't hold up in court they will be cursing upon my grave (lol). Come to think of things, neither of the documents specified how I might choose my final wishes (ie, cremation, ashes scattered at sea, etc). Does anyone know which document I would specify my final wishes?Comment
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My bad (duh). The software program in fact had a final wishes application. This is how I worded my final wishes; Note that my final wishes may conflict greatly with what others might envision for their final wishes.
Final Arrangements for XXXXXXXX XXXXXXXXXX
I request that the following wishes and arrangements be honored after my death.
Cremation Instructions
I want my body to be cremated.
Mortuary or Cremation Facility
California Cremation Center, 1525-A North Waterman Ave, San Bernadino, CA,
92404, (877) 310-3924, transfer of remains to funeral home $395, refrigeration $375,
simple dignified cremation for $429, Los Angeles Metro additional fee $75, Non
witnessed sea scattering by funeral home $95 (all the above rates subject to current
market rates)
Disposition of My Ashes
I want to have my ashes scattered.
How and where to scatter my ashes:
Ashes scattered at sea
Embalming
I have no preference about embalming.
Casket
I have no preference for a casket.
Container for Cremated Remains
I have no preference for a container.
Marker
I have no preference for a marker.
Epitaph
I have no preference for an epitaph.
////
////
Other Wishes
Frugal in life, so too in death, beyond that just a simple and dignified cremation, no
opulent or extraordinary services
Ceremonies
I have no preferences for ceremonies after my death.
Obituary
I have no preferences for the publication of my obituary.
Financial Plans
Los Angeles County plan D provides up to $5000 for death benefits, however, should
problems arise see XXXXXX XXXXXXXX revocable living trust for alternative funding sources
Signature
I, XXXXXXXXX XXXXXXXXXX, declare that I have read these instructions and that they accurately
reflect my wishes for final arrangements after my death.
Date:
Signature:
XXXXXXXXXComment
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A friend has experienced another will nightmare in recent months. It had to do with real estate. FUN times. Again, thousands and thousands of dollars to straighten out an unintended mess. The mother inadverdently left her child 1/4 of a piece of property when she meant to leave 1/2. Because she owned 1/2 and left him 1/2 of her 1/2? (She meant to say "her half.") The only saving grace was the mother was left the property in a trust and her father had an iron clad trust - which spelled out that her children would inherit the property. It took many hours of expensive lawyers to figure it all out. It's not like they knew the original trust was done well and had it covered - could have saved them some time and money if they knew.
Just to share one example from my arsenal. I see stuff like this all the time - usually does not turn out so well.
@QMM - we have not done written wishes, but this is a good reminder. Especially because my spouse's wishes (cremation) are in conflict with his family. I could just see it now - we do need to get that in writing.Comment
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If you have no idea and experience with wills and living trusts then try to avoid attorneys. They are bit expensive and time consuming.
Go with a LDA. A local LDA knows all loop and holes. Also they will suggest appropriate attorney too if needed. Just as a suggestion giving you a link of LDA
California Attorney Assisted | California Legal Document PreparationComment
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