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Wills and Trusts

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  • savannah33 savannah33's Avatar 07-15-08 | 08:21 AM
  • It's so expensive to get these setup and then every 2 / 3 years you have to revisit and make changes.

    We spent last night going over the revised documents we had drawn up by the lawyer. The trust is about 20 pages at least and we have 2 wills (one each) that is about 6 pages. Then we have combined LLC's and one seperate LLC. So complicated to read through.

    I think after all said and done in the next month the changes will have cost us around $4000.
     


    No wonder people don't have wills and trusts setup.
  • 3Princes 07-15-08 | 09:04 AM
  • Wow, I thought ours were expensive at $150. Ours is pretty straightforward though. We haven't had to go in and make any changes yet.
  • savannah33 savannah33's Avatar 07-15-08 | 09:08 AM
  • Yes it's the trust and LLC's that really ratchet up the price plus the lawyer charges $350 an hour.
     
    We don't spend too much time asking him questions and chit chatting.
     
    And since ours is complicated we cannot just have a simple will if we want to have everything covered - guardians, executors, trusts, trustfunds for kids and such.
  • Laurie Laurie's Avatar 07-15-08 | 09:13 AM
  • My sister just purchased a DIY kit and all they had to do was get it notarized by 2 people. Total cost: 26 dollars....but all of their children are grown.
  • savannah33 savannah33's Avatar 07-15-08 | 09:15 AM
  • It's also according to your assets and how you want to make sure they are protected.