Will or a Trust
#2

Both? I recently did this and the will puts everything into a trust upon my death to be allocated as set forth in the trust (I have young children to consider). If the trust was set up now then I would have to donate everything to it and would have to file quarterly/annual tax returns, etc. Atleast that is the way the attorney explained it before he took my money. 

#5

Can't say, a friend of mine is an attorney and recommended another attorney who specialized in wealth management and wills/trust. Two meetings, preliminary drafts for review and a myriad of questions (which I would/may not have thought of) in addition to living wills and a few other odds and ends was $1000. Considering what I was asking for and his obvious expertise I thought that was reasonable.
#7
Admirals Club



Join Date: Sep 2005
Location: Tennessee
Posts: 2,009

Go to NOLO http://www.nolo.com/
They have a simple, low cost, legal solution.
I have used these folks publications including forming a 501c3 non profit corporation, a job that lawyers would charge thousands for.
They have a simple, low cost, legal solution.
I have used these folks publications including forming a 501c3 non profit corporation, a job that lawyers would charge thousands for.

#8
Senior Member
Join Date: Feb 2003
Location: Jacksonville, Florida, US
Posts: 14,527

The trust is a vehicle, the will is how you want that vehicle to work and be managed.
Also do not neglect a living will, and guardianship if you have children.
#9
Senior Member

Join Date: Aug 2006
Location: Central Florida
Posts: 8,205

Can't say, a friend of mine is an attorney and recommended another attorney who specialized in wealth management and wills/trust. Two meetings, preliminary drafts for review and a myriad of questions (which I would/may not have thought of) in addition to living wills and a few other odds and ends was $1000. Considering what I was asking for and his obvious expertise I thought that was reasonable.
The $1,000 bsmith paid was reasonable. It is obvious he felt he received good value. I'm sure they also drafted Living Wills and Health Care Surrogate documents as part of the process.
#10
Member
Join Date: Nov 2009
Location: Wayzata, MN
Posts: 39

And, as Sprockets pointed out, you should involve an attorney who specializes in estate planning. I wouldn't rely on a boating forum as my sole source of knowledge....it's good to get direction from people you trust, but meet with a professional.