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  #1 (permalink)  
Old 01-12-2013, 11:04 AM
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Default Estate planning CA

Folks

Recently I started thinking of estate planning
We have 2 minor kids and no relatives in the US

On checking with a couple of lawyers
The fee seems to range to plan the estate starting at 1500 to 2000

Anyone here done estate planning and does that sound like a reasonable fee

Any other way to get it done if not through a lawyer?

Thanks for any information on this

Regards
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  #2 (permalink)  
Old 01-12-2013, 11:08 AM
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Default Bay Area CA

V r in Santa Clara county in CA
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  #3 (permalink)  
Old 01-12-2013, 11:58 AM
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My wife and I don't have as much to think about estate planning but have you looked at legalzoom.com. Their advertisement claims low cost, easy and efficient estate planning/writing a Will
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Old 01-12-2013, 01:47 PM
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Few years ago being Amex card holder they offered free finance planning at a local office. Check if you have one and if they are still offering. This was in Dallas,tx
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Old 01-12-2013, 01:50 PM
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Estate Plan and Estate Planning Advice | Ameriprise Financial
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  #6 (permalink)  
Old 01-12-2013, 02:10 PM
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Default

Quote:
Originally Posted by ca_immigrant View Post
Folks

Recently I started thinking of estate planning
We have 2 minor kids and no relatives in the US

On checking with a couple of lawyers
The fee seems to range to plan the estate starting at 1500 to 2000

Anyone here done estate planning and does that sound like a reasonable fee

Any other way to get it done if not through a lawyer?

Thanks for any information on this

Regards
Plan a family trust and move all your assets there...so you wont need to pay the inheritance tax and it will be safe from any law suit against you.
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  #7 (permalink)  
Old 01-14-2013, 02:02 PM
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Default

Quote:
Originally Posted by greyhair View Post
My wife and I don't have as much to think about estate planning but have you looked at legalzoom.com. Their advertisement claims low cost, easy and efficient estate planning/writing a Will
For estate planning/living trust/will Do as much home work as you can and do it perfectly. Because, these things will be used when you are no more in this world. Any mistake in the document cannot be corrected at that time and the very purpose of doing this will be defeated.

Key to understand before doing is "No mistake is allowed in writting a will/estate planning."
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  #8 (permalink)  
Old 01-14-2013, 04:28 PM
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Default I would not say I have much either !

Thanks for the various replies here...


Quote:
Originally Posted by greyhair View Post
My wife and I don't have as much to think about estate planning but have you looked at legalzoom.com. Their advertisement claims low cost, easy and efficient estate planning/writing a Will
thanks, but I guess even a modest house qualifies for estate planning.

though I doubt the 2000 is really required..but again you all know how "nice" lawyers are....

I would not say I have much in terms of property .....but here is how the math goes it seems...

let us say one has a 700k house and out of that your equity is only 70k (10%) or say 140k (20%)

if one has not planned all this in advance and god forbid something were to happen to both the parents....then it goes it probate....and in the probate process the court decides who gets your property...in most cases I am assuming its all fair and good decisions that are taken....but the problem is the fee invloved for probate...

for the 700k house the probate fee could run up to
25k for lawyer
25k for who ever initiates the probate process...(say a relative initiates the probate process...), they can decide not to charge the fee....

the fee is accessed on the entire 700k and not based on your equity...

even in the bank you cannot write the name of your kids as beneficiary if they are minor...so the guess you should covert your bank account to a trust account...or have a bank account which is in the name of your trust (estate or whatever it is called)


man its all so complicated....was simpler when I knew nothing about it...
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  #9 (permalink)  
Old 01-14-2013, 04:30 PM
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Default trust same as estate planning ?

Quote:
Originally Posted by snathan View Post
Plan a family trust and move all your assets there...so you wont need to pay the inheritance tax and it will be safe from any law suit against you.
Thanks for the reply !
The family trust again falls into the estate planning process, right ? or guess they are one and the same term (sorry for my ignorance on this)

and it is the planning on that which the lawyers claims will be for a $2000 fee...
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Contributed $150 to $200 so far to IV !!
Sent out flowers during the Flower campaign !!
Made phone calls to senators during various phone campaigns !!
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  #10 (permalink)  
Old 01-14-2013, 06:53 PM
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Default

Quote:
Originally Posted by ca_immigrant View Post
Thanks for the reply !
The family trust again falls into the estate planning process, right ? or guess they are one and the same term (sorry for my ignorance on this)

and it is the planning on that which the lawyers claims will be for a $2000 fee...
In my understanding 'estate planning' is same as 'living trust'. I hear the word 'family trust' for the first time in this forum.

Keep us posted about the attorney you choose and the amount they charge; also about their service quality.
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  #11 (permalink)  
Old 08-11-2013, 06:24 AM
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Justinbinny is on a distinguished road
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The Southern California Tax & Estate Planning Forum is an approved MCLE provider by the State Bar of California, the California Board of Legal Specialization in the areas of Estate Planning, Trust and Probate Law, and Taxation Law, and other State Bars and MCLE agencies.

commercial real estate agents in raleigh nc
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  #12 (permalink)  
Old 07-17-2015, 07:27 AM
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If you are looking for real estate planning then you must know the real proceedings involved in it. Read here to get more real estate information.
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