Hi everyone. Not sure if this sub gives this kind of advice. Looking for feedback really. My wife and I are middle aged and in good health but want to plan for the future. Our kids adore her brother and if something happened to both of us we would want him to raise them. However, we have significant assets. More than enough to see our kids through young adulthood. But her brother has never had that kind of money before. We are thinking about making her cousin, a successful attorney, the executor of the estate to ensure the money is managed properly and lasts long enough so the kids aren’t a b ..read more

I’ve read that if assets (stocks, bonds) are labeled as TOD then, on death, they pass to the beneficiaries without going through probate. If true, this would negate the need to put said assets in a trust to accomplish the same goal of avoiding probate, yes? Is there any benefit to putting the assets in a trust in this case? submitted by /u/at1020 [visit reddit] [comments ..read more

how does one easily enforce a decedent’s personal property distribution list, given a family feud situation between actual (appointed) trustee and other designated-trustees in the ordered list of a trust? —— A recently deceased person has a house full of nice stuff (furniture, art, objets, etc). S/he left an excel file (and paper printout of said file) with the estate attorney, who now works for a relative (also successor-trustee). The latter is rather good at getting things done, but has major family feuding history. The estate is distributing such personal property articles - though it will ..read more

We have two houses paid off 401k and a lump sum pension payment coming in. Want to give the homes to the kids but don’t want to burden them with taxes. Help please. I heard a trust is a good start submitted by /u/Maximum_Plankton_531 [visit reddit] [comments ..read more

I’m a middle-aged, divorced guy with no kids that does not own real estate. I’m looking for an estate planning attorney to prepare a trust in addition to advanced health directive and power of attorney. I've contacted a few lawyers and was surprised to receive quotes in excess of $3K. Is that the going rate? Thanks. submitted by /u/rhz10 [visit reddit] [comments ..read more

Hey hey! I was just curious if this subject comes up right now when meeting with new clients for estate planning. I’ve spoken to lots of lawyers and they either avoid the subject entirely or have a few questions as part of their intake process. Wouldn’t law firms want to expand the conversations around these assets to increase billable hours and/or service offerings? submitted by /u/rdankoff [visit reddit] [comments ..read more

Does anyone have an example of a spreadsheet that would help me as the Trustee of my brother's estate. Child A is choosing to keep a motorcycle, so child B should get 50% of the value. Something like this screenshot but better. I usually buy fancy spreadsheets on Etsy, but I can't find one that does this function. TIA! https://preview.redd.it/3nsn779ff2wc1.png?width=1372&format=png&auto=webp&s=09f145f159f9c3dfbc2a545fa3ee45f539dfb0c0 submitted by /u/I_hate_Bananas_491 [visit reddit] [comments ..read more

Clients are moving to Cleveland and want to update their EP docs that I did for them ~10 years ago. Not anywhere close to being a taxable estate, but worth a few million and have young children. submitted by /u/haley_joel_osteen [visit reddit] [comments ..read more

I'm wondering, after hearing a few anecdotal accounts, if investment firms ever try to slow the process, and if so, what I can do to counter that? I mean, every firm is out for their interests, sometimes by manipulating the legal system. submitted by /u/SemanticsSchematics [visit reddit] [comments ..read more

If I transfer the deed of my house into a trust can it impact my property taxes as well”new owner”? Or, if I refi down the road will that be an issue ? submitted by /u/suzannepauline [visit reddit] [comments ..read more