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Any info on doing your own Revocable trust? will ?

G

gidat1

TUG Member
Joined
Jun 6, 2005
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Location
Panhandle of Florida
Reading the on going saga of JLB is heart wrenching.

Has any one investigated or have done their irevocable trust to by pass the probate court?

I went to local attorneys seminar for it. He is asking $ 2,000.00 to $ 5,000.00 for it.

Any insight in the this will be great.

Phil
 
I paid $5,000 (Boston) to get our done - two actually (his and mine) - they are far too involved to do yourself. DO IT RIGHT - pay an attorney that specializes in this.
 
We just had ours updated and went through our UBS broker. He recommended an attorney from The Anderson Firm. We had 3 or 4 visits with her to get the whole thing right. I agree...use a lawyer! Email me if you want our attorney's name. She is very good.
 
I am not endorsing this, but you can go to www.Suzeorman.com and check out her kit.

Her Saturday night tv program will be on wills and trusts, btw.
 
I definitely would use a lawyer and get it done correctly. Some of those charges seemed awfully high to me. Don't forget, the lawyer will also do power of attorney, living will, medical power of attorney, etc for you and those all add on to the bill. One thing you should want done is an affadavit of trust that can be sent in to prove you have a trust. My in laws did not have an afafdavit of trust and we had to send the entire trust in to the IRSA and give it to lawyers, accountants, etc to prove we were the new trustees. It is a big difference sending in a one or two page document versus the entire trust which can be 100 pages.
 
sorry been out of town and had no time to visit TUG.

But am back now and got my share of the fix for past two hours on the TUG.

Thanks for replies. What is the affidavit of the trust?

Phil
 
Nolo Press has several good books on the subject, some of which may be at your library. Helps to read up on things before you talk to the lawyer again.

http://www.nolo.com/resource.cfm/catID/FD1795A9-8049-422C-9087838F86A2BC2B/309/

A very good book to read also is Beyond the Grave by Gerald Condon and Jeffrey Condon:

http://www.amazon.com/gp/product/00..._1/002-7118142-2697630?_encoding=UTF8&s=books

This looks at different types of trusts via real-life situations they encountered in their legal practice.

I had only one question about one of their situations, and it was where the parents had died, one daughter had died and her share was to go to the grandchild, but the two sons said they didn't approve of her (the grandchild's) lifestyle and weren't going to let her know about the money (the sons were the executors). The lawyer said he could not do anything about it, as I remember reading. Why would that be, does anyone know?
 
Check out Prepaid Legal. They do a basic will for free (included in the membership) and charge reduced rates for more complicated items. They charged me $500 to fashion a revocable trust. Membership is about $200 per year.

www.prepaidlegal.com
 
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