r/EstatePlanning • • May 14 '26

Frequently Asked Questions

22 Upvotes
  • Why aren't comments showing up? or, Why is the number of comments higher than the number of posts I can see?

This subreddit receives a very large number of low-quality comments, so only comments by approved users show up automatically. The other comments are hidden until a mod approves the comment.

How to Become an Approved Commenter: If you're interested in becoming an approved commenter, please message the mods. In your message, explain why you believe you would contribute positively to our community. We welcome fans of all levels, whether you're a super fan or a casual browser. Note that approval is contingent on adherence to our community rules, particularly regarding misinformation. We reserve the right to rescind commenting privileges if rules are broken.

The mods are all estate planning attorneys who volunteer their time to ensure this subreddit is a great resource, and while we do our best to go through the comments in a timely manner, we also maintain our actual practice, and appreciate your patience and understanding.

  • Should I use an online tool to create my Will/Trust?

Many DIY providers can make adequate documents, but it's not just about the documents. The documents should reflect a carefully designed plan and the DIY solutions don't do that careful design part. They just offer a basic solution that kinda fits most people. It's like selling only size large tshirts - most people could probably wear it, but doesn't mean it's the right fit. So you can get a good outcome or a bad outcome with DIY. The problem is you don't know.

DIY is imperfect, but so are many lawyers. Documents from lawyers can produce good outcomes or bad outcomes. I have encountered more problems from lawyers than from DIY solutions. Using a lawyer isn't 100% guaranteed to be perfect, just as DIY isn't 100% guaranteed to be a disaster.

Modern DIY solutions have improved significantly from pre-printed forms, static templates, and one-size-only offerings. Some of the offerings today rival the output you'll receive from lawyers who also rely on form generation software (but without the actual legal guidance involved). Some are trash. You likely can't tell the difference, though you likely can't tell the difference between a good lawyer and a bad lawyer who presents well.

The biggest issue is that you don't know what you don't know. You don't know if you've missed an issue because you didn't think of it, you don't know if something you wrote is unclear, you don't know if you didn't fill it out correctly, etc. Hiring an estate planning attorney means someone is ensuring that everything is done correctly. Another mod disagrees with me, and I respect that, but personally, I believe nobody is better off paying an online provider for a DIY estate plan - if your situation is so simple a DIY is sufficient, then you probably don't need a Will so there's no need to spend money on one, and if your situation requires you to have a Will then it's probably more complicated than DIY can handle.

Do not DIY a Trust. There is no such thing as a "basic" Trust or a "simple" trust, no matter what you read online. Furthermore, the documents are only half the package. Trust Funding is just as important, but not only that, the guidance and recommendations from an experienced attorney are far more important.

Also, the best reason to hire an attorney is that (a) they're less likely to make a mistake, and (b) if they do make a mistake, their malpractice insurance can make you whole.

  • My Financial Advisor is offering to do estate planning for me.

Don't do this, ever. At best, they can simply fill in blank forms for you.

If your financial advisor is providing any kind of legal advice, and is not admitted to practice law in your state, they are violating the law; depending on the state that's either a misdemeanor or a felony. I don't know about you, but I don't want to trust my money or my estate with someone who so casually breaks the law.

More importantly, would you trust your car mechanic to provide a medical diagnosis? These are completely unrelated skills.

Additionally, there are certain protections that you get working with an attorney that you don't get from a financial advisor. Attorney-client privilege, a fiduciary duty, and, if things go wrong, malpractice insurance.

  • What about using AI?

At a bare minimum, from start to finish an estate plan involves:

  1. figuring out what the plan should be.
  2. getting the information to put into the documents (e.g. names)
  3. drafting the documents
  4. signing documents
  5. post-signing wrap-up. Things like recording deeds, changing owner and/or beneficiaries of financial accounts, etc.

#4 in many states needs to be done physically, and even in states where it can be done, still requires human involvement, no way around that, sorry.

#2 and #5 are the same whether you use AI (e.g. Claude) or an attorney. Your experience might vary based on the individual attorney or AI that you use, and that is important, but conceptually that part is the same. Used correctly, an AI can be just as good as an attorney.

#1 AI is only as good as its prompts, and you don't know what you don't know. A good attorney will ask you questions you might never have thought of, and see if there's something you haven't considered that might be important for you. If you're not aware of something, you won't be able to add it to your prompt. Just as importantly, AI won't talk you out of doing something you shouldn't be doing, and might not caution you about potential issues.

#3 is the other one where we see issues. AI might miss important clauses, include clauses that shouldn't be there, might use ambiguous language, out-of-date forms, things not applicable to your state, etc. The quality I've seen is... not good. I've had clients ask AI to review my documents, and come back with revisions that would cause problems - including one that would have resulted in significant unnecessary taxes.

the problem isn't that AI can create something that's good enough, it's just that you don't know if it's right, or if it just looks right.

  • What is estate planning?

Estate planning is preparing for the inevitable - determining who will take care of you if you become incapacitated, who will get your stuff when you pass away, as well as when or how they get it. The key components of an estate plan are:

- Healthcare authorizations, so that if you become incapable of making your own medical decisions, someone else can make those decisions for you. Closely related are end-of-life decisions, which may be in the same document, or a separate document.

- Power of Attorney, so that if you need help managing your financial affairs, someone can act on your behalf

- Will or Trust, to determine who will receive your assets after you pass away

- Probate avoidance devises, such as transfer on death deeds or beneficiary designations

- Funeral Authorization, to establish who is in charge for decisions regarding your final disposition

- Guardianship paperwork for any minor children

  • What happens if I don't have an estate plan?

Then the state's default rules kick in. For some people that's fine, but others may not like the results.

- healthcare: nobody can make a decision on your behalf without a court order allowing them to do so. That's an expensive undertaking, and the person the court appoints may not be the one you would want. More importantly, the decisions they can make will be limited, particularly where end-of-life is concerned (i.e. the ability to "pull the plug")

- power of attorney: nobody is authorized to access your bank account, learn about your mortgage payments, etc. Again, they'll need a court order, again it might not be who you want, and that person will probably need to report to the court on a regular basis

- funeral authorization: I once saw a brother and sister in court over a year whether to bury or cremate their mother while the body remained on ice.

- guardian: do you want the court deciding who should raise your children?

- assets: this varies by state. [SOMEONE FILL IN THE GENERAL RULES FOR COMMUNITY PROPERTY]. In states that do not have community property, generally speaking if there are separate children and a surviving spouse, half will go to the surviving spouse and half will be split among the children. If there's no separate children, in many states it'll all go to the surviving spouse, but in some states the surviving spouse only gets half even if there are no separate children. If there's no surviving spouse, the assets will be split among the surviving children. If any child predeceases, then the descendants of those predeceased children will receive a portion, but the way that's calculated depends on the states. If there's no spouse or descendants, typically the parents will inherit, or if none, siblings or their descendants. It can get messy and go to more distant relatives.

If you're ok with the state's default laws, you do not need a Will (or any of the other documents).

  • What is probate?

Probate is a court-supervised process to transfer assets from someone who is gone to someone who is alive. While state law varies in the execution, the purpose of probate is to ensure the assets of the decedent go to the right people. The process involves gathering all the assets, paying off any valid debts, and distributing the rest of the funds to the appropriate people.

In some states probate is generally simple and fairly quick, in other states, probate is more complicated and takes longer. What really makes a probate complicated are (a) unknown heirs, (b) minor children as heirs, (c) disabled heirs, (d) complex assets, (e) uncooperative heirs, and (f) disputes.

To clarify: the legal definition of probate is the process by which a Will is proved (declared valid) but colloquially refers to the court supervised process of administering an estate. All estates need to be administered, but not all estates require court supervision.

  • Does a Will avoid probate? or Do I need a Will?

A Will does not avoid probate, it is merely instructions to the court regarding what you want. Without a Will, your assets will be distributed according to state law. With a Will, your assets will be distributed to the people/organizations that you choose. Same goes for who will administer your estate.

  • The Will made X the Executor who is now telling us who gets what

First and foremost, X is not the executor unless and until the court has approved the Will and has issued official paperwork stating that they're the Executor.

Often that means that property will sometimes sit, unused and unusable, for a period of time after someone has passed away.

Even after someone is appointed Executor, the Executor does not get to decide who gets what - that's determined by the Will and/or by State Law.

If you think X is not suited for the position, you can object to them being the Executor, and propose an alternative. That can drive up the cost of administration, and can also lead to strained family relationships.

  • How Long Does Probate Take?

How tall is a person? There's no single answer. Probate involves (1) petitioning the court, (2) having an executor/administrator/personal representative appointed, (3) gathering all the assets together, (4) paying any valid debts, (5) maybe disputing or litigating various claims, (6) maybe dealing with tax matters, and (6) distributing assets.

How smooth that goes depends on (1) how fast the court process goes, (2) how simple/complex the assets and liabilities are, (3) how effective the executor and their legal counsel are, (4) whether there's any disputes, and (5) whether tax authorities are involved.

I don't know a single state where the creditor claim period is less than 3 months, so if the Executor doesn't want that kind of liability, even with instant turnaround times, it won't be less than that. More realistically, I would expect simple estates without any issues to be resolved in 6-24 months. But if the assets are complex, if there's litigation, or just if people die during administration, the process can run for years, sometimes decades.

The longest probate on record, that of William Jennens, in England, wasn't fully resolved until 117 years after his death. Wellington Burt had a clause in his Will that delayed payout until 92 years after his passing. It took 87 years before Daniel Clark's probate was finally resolved.

  • What is a Trust?

At its simplest, a trust is where a person (Settlor/Grantor) gives assets to a person (Trustee) to hold and manage for the benefit of another person (Beneficiary).

Some ways to look at it:

  1. When you open a bank account, you trust them to hold on to your money, but it's still your money
  2. When you send mail, you trust the post office to deliver your letter to the intended recipient
  3. Giving a teacher an asthma inhaler or an EpiPen to be administered to a child as needed

There are many types of trusts, and names are not always consistent. There are generally three categories of Trusts:

- Testamentary Trust is created under your Will, it does not come into existence until you pass away. Simplest example: When I die my assets will go to my children, but until they turn 18, the assets will be managed by my sister.

- Revocable Trust is a Trust you create today, and you can make any changes at any time. The primary purpose of a revocable trust is to avoid probate. Typically, at the time of creation, the Grantor is also the Trustee and the Beneficiary.

- Irrevocable Trust is a Trust you create today, but you are limited in what you can change later.

There are many kinds of irrevocable Trust, and they can be created for many different purposes.

Note that while assets in a Trust typically (but not necessarily) avoid probate, that doesn't mean there won't be litigation, and while Trust administration usually happens without court supervision, that doesn't mean it'll necessarily be quicker. The issues that can cause delays in administration or contentious litigation don't disappear just because there's a Trust.

  • Should I add my child's name to the deed

Adding someone's name to a deed isn't just symbolic - it's an actual transfer of an ownership interest in the property to that person. So it's a gift of the value of that interest, which SHOULD be accompanied by an appraisal of the property, another valuation done to determine the value of the fractional interest transferred, and likely a gift tax return filed to report the gift.

This can impact other planning done, for higher net worth people (there are some still out there who will pay estate and/or gift tax), actions like this can impact their overall estate plan and possibly increase the estate/gift taxes owed.

You have now exposed the ENTIRE property to the risk that your child would have creditors (divorce - soon-to-be-ex-spouse, business risks, etc.) and that their claims could take property away from you. This is generally not a desired outcome.

There may be state-specific issues related to property tax.

Your child will not inherit the property from you, which can have serious tax repercussions - particularly as your child will receive your tax basis, and will not receive a step-up.

  • Will my child pay tax on inherited property / what is a Step-Up in basis? / What is Capital Gains

On a federal level, there's no estate tax or inheritance tax if your assets are below $15 million, and a married couple can combine their exemptions, which gets it to $30 million.

There also typically won't be capital gains.

If you buy property for $100,000, and sell it for $150,000, you made $50,000 profit, and need to pay capital gains tax (if owned for more than 1 year). More precisely, you're taxed on the difference between the net sale price (after deducting costs), and your Tax Basis, which is called your Gain.

Tax Basis is typically what you paid for the property, plus adjustments. If you bought the property for $100,000 and put in a new kitchen for $20,000, your tax basis becomes $120,000. Rental property can be depreciated, which lowers your taxable income every year, but also lowers your tax basis.

If you sell your primary residence (meaning you lived there for 2 of the last 5 years), you are not taxed on the first $250,000 of Gain, and if you're married, you can double that to $500,000. So if a married couple bought property for $100,000 and sells it for $650,000, there's $550,000 of gain, but only $50,000 is taxable.

If you give property away, whoever receives it takes over your tax basis - can't avoid tax just by giving property away. Plus, the recipient doesn't get the principal residence exclusion until they've lived there for 2+ years.

If you inherit property, through a Will, intestacy, through a Transfer-on-Death deed, a life estate deed, a ladybird deed, community property (in those 9 states), or through some trusts (especially revocable trusts and Medicaid trusts) you get a "step-up" in basis, meaning that your tax basis is the date of death value (or up to 6 months later).

That means that if you sell the property right away, there's no capital gains tax. Or if you hold it for a few years, you're taxed on the difference between the sale price and the date of death value, not the original purchase price.

  • Can someone with diminished capacity (Alzheimer's, dementia, etc.) make a Will or a Trust?

Someone can have dementia or diminished capacity and still have testamentary capacity.  For example, someone with sundowners might have periods where they’re sharp and lucid, and during that time they can make their wishes known and execute legal documents.

While we should not assist when someone is taking advantage, it is not our job to refuse to help a client.  If someone has capacity to sign, and it is. Or clear there being taken advantage of, we should do as the client asks.  It is up to the person challenging the will/trust to prove that the client didn’t actually want to make those changes.

Unlike many other states, in Florida if a natural heir (eg a child) claims undue influence, it is up to the proponent of a Will to prove there was no undue influence.

In Florida, there is a seminal case, estate of carpenter (1971) that lists the main hallmarks of undue influence. A lot of articles have been written about the Carpenter Factors, as they’re now known, particularly by the Florida Bar. Those articles might explain why some factors could just be the sign of a helpful child, or might add additional concerns, etc.


r/EstatePlanning • • Oct 07 '24

Selecting an Attorney – a Guide

51 Upvotes

I was initially going to title this “how to select an attorney” but realized that there are no hard rules and making a definitive statement does a disservice to either those who are excluded, or those who select the wrong attorney based on this guide.  I have known attorneys who provide estate planning services in rural areas, large cities, and everything in between, from solo practitioners to the largest of law firms, and thought I’d share my thoughts.  I will gladly state that you can get great service from a solo and horrible service from a major law firm.  So this guide is more to provide information than anything else.

This is a work in progress, and is open to suggestions.

1. Specialization

The single most important aspect of your attorney should be their specialization.  Quite simply, a jack-of-all-trades attorney is unlikely to have an in-depth knowledge of all topics.  An attorney who happens to do Wills on the side probably doesn’t know much about estate planning, such as whether or not a trust may be appropriate.  I had one divorce attorney ask me why I always had a Will notarized when the statute only required two witnesses (quick answer: so that the Will is presumed valid without the need for the witnesses to swear in court that they saw the decedent sign the Will).  While there are exceptions, I generally would not recommend getting an estate plan from someone who doesn’t predominantly specialize in estate planning.

There are also sub-specialties in estate planning.  Going forward, I’m going to refer to estate attorneys, unless I’m referring to a particular sub-specialty.  Broadly speaking, the main subspecialties are:

(a) middle-market planning, which often revolves around avoiding probate and ensuring a smooth transition, but often also includes long-term care planning, knowledge of special needs, etc.

(b) probate and administration, meaning they mostly specialize in the busywork that happens when people die - getting the executor/administrator appointed, transferring assets, stuff like that. 

(c) elder law, which more broadly deals with issues faced by seniors.  This includes Medicaid planning and probate avoidance, but also deals with benefits, guardianships, and a whole host of other corollary issues that many other practitioners don’t deal with regularly.

(d) special needs.  This tends to blend in with elder law, as special needs people and seniors tend to face a lot of similar issues.  Depending on the practice and the clients, this may be a lot more hands-on than elder law.

(e) tax / high net worth.  This generally means people worth tens of millions (lower in some states), who may face millions upon millions in death taxes.  These attorneys know all the funky acronyms you may come across, and are able to figure out which ones to use for which client.

(f) private client / family office.  A private client attorney is more like a general counsel of a wealthy family.  It doesn’t just cover estate planning, but anything that the wealthy family may need, such as preparing a lease, purchasing a jet, finding the best DIU attorney in the vacation resort where their wayward child got arrested. 

(g) litigation.  These people are who you reach out to when there is a serious dispute – such as when you’re trying to invalidate a Will or enforce a Trust.

(h) The transitioning attorney.  This is someone who doesn’t really specialize in estates, but is trying to make the transition.  There are generally two kinds, the recent graduate (or recently unemployed) who can’t find a job, and starts to do simple Wills for their friends and family and tries to make a living with it, and the somewhat older attorney, often divorce or criminal law, who thinks it’ll be an easier lifestyle because they can make their own schedule rather than have to deal with court deadlines and the like.  Some of these attorneys put in a lot of work and study to learn the specialty and can be better than attorneys who’ve been doing estates for years, but a lot of them don’t really know what they’re doing and don’t even know what they don’t know.

(i) the dabbler. This is an attorney who doesn't specialize in estates, but does it on the side. Someone who mostly does family law, or business, or whatever, and occasionally does Wills for clients because he/she thinks it's easy. This attorney doesn't know what they don't know, and should be avoided. Don't even think of using someone who only does the occasional Will on the side - if you're lucky it's just a waste of money, but they might miss a whole lot of things they don't know they should ask about, or they may do things incorrectly and set you up for much higher expenses later. Somewhat related to this are out-of-state attorneys who don't know the laws in your state, and I've seen a lot of problems because of that, including invalid documents.

Keep in mind that while an attorney often has one, or maybe two, sub-specialties, the attorney may still be knowledgeable in other areas.  As an easy example, I don’t specialize in special needs, but I am capable of preparing special needs trusts, and have done quite a few, but only if it’s pre-planning planning for while the parent/donor is still alive and capable; for more immediate needs or in-depth administration, I defer to the experts. 

That also means that many attorneys will state that they do some or all of the above, even if they barely do any X. While the title or practice description at the law firm may be an indication (e.g. private client, wills & estates), that’s not necessarily reflective of the actual specialization. The most important thing is that they know their limits - and stick with it.

Word of Caution

Beware the multi-practice attorney. The multi-practice attorney does a lot of different things, so they may do divorce and real estate and personal injury and basic Wills. I've thought long and hard about this and I don't want to be too harsh; you've got some very clever attorneys who can juggle multiple practice areas and be decent at each, but they're unlikely to master each one. It's a lot more common (and a lot more acceptable) in rural areas where there just isn't enough density for specialization; there are parts of this country where it's a 3-hour drive to a town with 10,000 people, and it's really hard for an attorney to support themselves doing only one thing. As long as they know their limits that's fine. Meaning they know what they don't know and will tell clients when to seek out someone with more knowledge.

Alternative 'Solutions;. Today it's mostly websites selling estate planning solutions, but you can buy a Will template from Staples. I don't recommend this. Usually, the documents are flimsy and bare bones, some of them are quite bad, but that's not what the big issue, the real concern is that there's no guidance. You don't know what you don't know, and a lot of mistakes get made with these. Quite often the documents aren't executed right, people pick the wrong forms, select the wrong options, don't choose their words carefully, and it leads to all kinds of mess. Ask any attorney in this field, we get paid a lot of money to fix the mess created by the online services. But maybe that's just Survivor Bias, and we only see the ones that don't work properly. In the end, my personal view is that you're not paying an estate planning attorney for their documents, but for their advice and so that it's done right.

Related to this are non-attorneys who offer estate planning. Some financial advisors and accounts say they do estate planning. That's not entirely accurate. Estate planning by an accountant or a financial advisor only focuses on part of the picture, and from a limited point of view. It's not uncommon for advisors to work together, and it's great when we can coordinate our different parts with each other. But I've come across such professionals that want to dictate to the attorney what to do, which is not good, there's also professionals who try to undermine the other professionals, which can cause issues, and worse, I've come across professionals who make it appear that you don't need an attorney (or other professional), which is even more problematic. It's great when advisors work together, as long as they all "stay in their lane" - and that goes for the attorney too. I might give a financial advisor my thoughts and ideas, but that's about it, because they're the financial professional, and I only have a surface level of knowledge.

2. Size of Firm.

The largest law firms, with hundreds of attorneys, if they do estate law, tend to have the wealthiest clients, and charge accordingly.  There may be a particular focus on private client / family office, and tax planning for high net worth.

Beyond that, the size of the law firm only tells you the size of the law firm.  Not only that, the size of the department is more important.  A firm with 50-200 attorneys may only have 2-3 who do anything with estates, or it could have a sizeable department of 5-15 attorneys with that specialty.  It’s really no different than a boutique law firm, except that the larger firm gets to keep their clients in-house.

A boutique with 5-20 estate attorneys, including a much larger firm with an estate department that size tends to cater to the middle class and the moderately affluent.  It’s not unusual for a firm like that to have a handful of high net worth or private client, particularly if it’s part of a much larger firm, but you can probably count those clients with your fingers.  These firms are most likely to do a lot of advertising, including seminars – that may or may not be a bad thing (See below).

A solo or small shop runs the gamut – it could be a boutique specialist who has plenty of high net worth clients, such as when the specialist works with some of the major law firms that don’t have their own estate attorneys, or it could be someone who stepped away from a larger firm for lifestyle reasons.  There are also solos/small shops who weren’t able to find a job and just fell into estate planning, or who were previously a different kind of attorney and wanted to transition for an easier lifestyle.  However, when dealing with a solo attorney, and particularly a very old attorney, you might want to ask if the attorney has a plan in place for any sensitive papers that the attorney may hold on to.

3. Location.

The location of the lawyer does not dictate the ability, but it may be an indicator of the typical cases the clients see. 

Rural counties: An attorney in a small rural county is a lot more likely to see the type of clients who live in small rural counties.  Not all rural counties are alike, and so neither are rural attorneys.  While the majority of rural attorneys are generally dealing with many smaller estates, there are also rural attorneys who regularly deal with multi-million dollar estates.  Particularly the kind of multi-millionaires you may see in such areas, such as wealthy farmers, oil & mineral rights, etc.  For example, there are attorneys in more rural areas who specialize in farm succession planning, which very few “big city” attorneys would understand.  That being said, there’s often a limit to the size of the estate local attorneys should be handling, mainly due to the volume.  As such, it’s unlikely that a rural attorney has significant experience with ultra-high net worth planning. 

The largest law firms tend to only be in the largest cities, with over 2/3 of the lawyers in the 200 largest law firms being in just 5 cities, and 7/8th in the 10 largest cities.  Some of those law firms may also have a presence in a smaller location, which may provide access to the larger firm’s expertise.  Beyond that, large cities have all kinds of attorney, from those scraping by, to very respectable boutiques, to mega law firms.

There are still sizeable and deeply experienced firms in somewhat smaller cities.  If the population of the greater metropolitan area is 500,000+, there will probably be two or three boutiques with sufficient knowledge to handle all but the largest estates, but whose main bread and butter is typically more retail clients.  There are also a few more affluent areas where you’ll get a much larger number, such as Naples, Florida, which can rival even the largest cities for the number of high-end practices you’ll find there. 

Suburbs of major cities are in many respects similar to midsize cities, in that you can find some fairly large and knowledgeable boutiques, but there’s also a larger likelihood of specialization.  For example, mid-size firm in a very affluent suburb may have enough clients to only do high net worth.

3B. Multi-Jurisdictional / Different States

The attorney must be licensed in the applicable state. Typically, your attorney should be licensed in your state. It is illegal for an attorney who is not licensed in your state to advise you on estate planning matters in your state or to draft documents for your state.

Some attorneys will take on out-of-state clients to help with out-of-state matters even if the attorney is not licensed in that state. An attorney may even say that another attorney in their firm is licensed in your state, so therefore they can advise you and prepare documents for you. That is illegal in many states, and in some states even a felony - an attorney can't just borrow another attorney's license, the attorney licensed in your state should be part of the process from start to finish. Do not work with an attorney who is not licensed in the state for which the attorney is preparing documents.

It's ok for your local attorney to give general advice on issues pertaining to other states, and for many states there is a safe harbor, so that if you seek a local attorney to advise you on your estate planning, and as part thereof some documents are prepared for another state, that might be ok, as long as the work in/for the other state is secondary to the estate plan in your home state. If you spend significant time in two states (e.g. summers up north, winters down south), you should ideally have an attorney admitted in both states, or otherwise two separate attorneys.

It's also ok to seek an out-of-state attorney for advice on federal matters (e.g. tax); any attorney can advise anyone in the country on federal matters. The out-of-state attorney should not advise you on local law, and may need to bring in a local attorney to review anything related to the state.

4. You get what you pay for – or maybe not?

Quite often people ask what a reasonable fee is, and there’s no straight answer, but there are some rough guides.  While you’d generally expect higher prices in larger cities, that’s not necessarily true.  The sole attorney in a rural area might be so busy that they can charge higher prices, while someone in a more working class part of a larger metropolitan area might be a lot cheaper because there’s a lot of competition.

That being said, if it’s a relatively simple revocable trust package (without add-ons and bells or whistles), the price should range from about $2500 to $7500 anywhere in the country (things that cost more include medicaid planning, special needs, asset protection, tax planning, business succession, etc.).  Any less would be very concerning, because even the most simple estate plan will take several hours – to meet with you to determine your actual needs, to prepare the documents*, to review the drafts, again to meet with you to explain your documents and to sign them. 

If it’s within that range, don’t make the mistake of thinking more expensive is better – I’ve seen expensive attorneys who are mediocre, and I’ve seen excellent attorneys who charge less.  It mostly has to do with their network and the volume of clients they get. 

If someone charges more than that, hopefully it’s because there’s a good reason, such as a more complicated plan or a more demanding client.  Again, that range is for a relatively simple revocable trust, but keep in mind that there’s a lot of things that could make a trust more complicated. 

*it’s not just filling in blanks on templates.  While ideally a lot of the text is pre-written/standardized, that doesn’t mean every client’s work is the same – it’s adding or removing clauses or entire sections based on the client’s particular situation.  Maybe 75% of the document is the same for 75% of the clients, but there’s still a lot of variation – at least, if it’s customized to the client.

5. Marketing

Let’s start off with a “Trust Mill”.  This is a derogatory term for a business that follows a very specific pattern: send marketing to a targeted population, invite them to a seminar (possibly with a free meal), give a presentation about estate planning, and sign up as many clients as possible.  It’s a business, and there are pseudo-franchises where any attorney can pay a fee and they’ll essentially have it all done for them.  Trust mills get a bad name because it’s mostly one-size-fits-all planning.  Think of going to five guys, in-n-out, or shake shack.  Everyone’s getting a burger, but you can choose your toppings.

It's not fair to say all trust mills suck, and they’re not all alike.  Some are run by very dumb attorneys, or those who drank the cool-aid, and try to fit every peg into the same square hole, whether or not it fits.  Some are run by very good attorneys who are very knowledgeable, and it’s just a way to get clients. 

Some attorneys get clients through word of mouth, others through advertising.  Some attorneys spend a lot of time writing or speaking to get their name out there.  Some attorneys donate significant money to charities so they can sit on the board and network.   Advertising doesn’t make someone a worse attorney (or a better attorney).  It’s just a way for people to find the attorney.  Think about your own situation – how are you going to find an attorney? 

But that being said, the way an attorney gets clients tells you something about the typical clients the attorney gets.  An attorney who gets all their clients at the country club typically has a lot of country-club type of clients (i.e. high net worth and private client).  An attorney who gets all their clients by hanging around senior centers is more likely to do elder law.  An attorney who does a lot of seminars is more likely to be targeting the middle class.  An attorney who goes on reddit to post about estate planning probably loves their job a little too much.

6. Awards, Certification, Group Membership

Awards are worthless.  A lot of awards are “pay to play”, meaning the awards make money off the attorneys who they give the award to.  It doesn’t matter if they say something like “only 10% of attorneys qualify” or something like that.  Even if it’s not “pay to play”, it’s still a popularity contest.  Even the most reputable awards are barely more than a seal of approval – I know a Chambers (most prestigious) ranked attorney at a major law firm who uses documents that are hand-me-downs from 50+ years ago, and whose knowledge of trusts seems to be stuck in the '90s.  All awards are worthless.

Certifications are either private organizations or state-run. If it's a private organization, I'd take it with a grain of salt. There are a lot of accreditations and certifications, and some are barely more than a paid plaque. I'm looking at one right now for which the requirements are less than I need to maintain my license to practice. So yeah, I could pay for a certificate so I can tell the world that I show "a high level of professionalism", or I could just be a good attorney. If it's a state run program, it's probably a good indication; the Florida Bar Board Certification is a rigorous program and I know very experienced practitioners who've failed the test. It'll certainly tell you that the attorney can pass the test, but it won't tell you if the attorney has empathy or creativity. A lack of certification doesn't mean the attorney isn't as good as someone who does have certification.

There are also professional organizations, and the qualify varies. Most groups/organizations, just about anyone willing to pay the fee can join, and the only thing membership in the organization tells you is that the attorney pays to be a member of the organization, while some groups may require a few years of practice and/or a few classes. The most prestigious and restrictive group, ACTEC, only tells you that the attorney was able to jump through the hoops needed to join; I know an ACTEC member that uses garbage documents that includes references to sections of the tax code that were repealed more than a decade ago and I can teach a class on how bad they are. To the extent you want to make sure an attorney is dedicated to their craft, in addition to ACTEC (American College of Trust and Estate Counsel), NAELA (National Academy of Elder Law Attorneys) is a good group for elder law, and SNA (Special Needs Alliance) is predominantly a support network for attorneys who specialize in special needs.

7. Materials

The quality of the paper, binder, etc. says nothing about the quality of the attorney. I've seen comments about how fancy binders are only for crappy trust mills. Personally, I provide a premium service for a premium price, so I like to give a top notch presentation. I've done high end tax planning that cost $50,000 or more, a sturdy binder costs less than $50. It actually irks me that there are some very high-end firms that print on the cheapest paper available and just stick documents in a plain envelope - I take pride in my work, and I want my work to look like I care.

8. What should I look for?

Here’s the question everyone probably wants answered.  I can’t give a perfect answer, just my opinion.  What you want is empathy, knowledge, and clarity.

First and foremost, how the attorney makes you feel is important.  If you feel like you’re not getting their full attention, or that they’re rushing you, or pushing you into something you don’t understand, walk away.  An estate attorney once told me “I sell peace of mind”, that the attorney’s job is to make sure the client feels like they’re in good hands and will be taken care of. 

Second, you want an attorney who has sufficient knowledge to know what they’re doing – and more importantly, to know what they can’t do.  The attorney doesn’t need to be an expert on everything, if you have a $500,000 home and a few hundred thousand in retirement funds, you don’t need someone who knows the estate tax through and through.  What you do want is that if you ask, for example, about going into the nursing home, that the attorney can give you a good overview of the requirements for Medicaid – even if they can’t do the application themselves.  More importantly, you want an attorney who’s not afraid to tell you they can’t do something and will refer you to someone who can.

Third, you want an attorney who can communicate clearly with you.  You don’t need to be an expert in estates, but the attorney should be able to explain to you the issues that matter to you in a way that you can understand it and explain how the proposed estate plan addresses those issues. 

Last, you want an attorney who asks questions.  If a client comes to me and says they need a trust, I always ask why they think they need it.  An attorney who just does whatever the client asks for is not a good attorney - we’re sometimes called counselors, because it’s our job to counsel clients, not just to fill out some forms.  As an easy example, you can (probably) go online and find a standard document to appoint a healthcare agent for your state, but it’s the attorney’s job to explain to you why it’s a really bad idea to appoint two co-agents.

Bonus: Trust Funding / Post-Planning Guidance

Often, signing your documents doesn't mean your estate planning is finished, there's usually a few things left to do. Even if you're just getting a simple Will you should still name the beneficiaries on bank accounts, retirement accounts, insurance policies, etc. Your attorney should provide you with instructions.

Trust funding takes a bit more work, as assets need to be transferred into the trust. At the retail level*, the client is doing most of the work - your attorney can't go into your bank and drain your bank account. 20 years ago, your attorney could call your financial institutions and obtain the blank forms, but today it's hard to get the forms if you're not the account holder, so even if we wanted to do it all for you, we still can't do so without your help. Some attorneys will provide assistance (such as filling out forms) as part of the flat fee, others charge an additional fee for that, and it's not unreasonable because the time it takes varies significantly - some people need no assistance at all, others take many hours. At the very least, the attorney should provide written instructions on what you should do - that's the bare minimum, an attorney who doesn't even do should be avoided.

*if you have a personal banker, you know your insurance agent, etc., they'll often help get the forms and may help you fill out the forms. Just like with attorneys, I've noticed a lot of variability in how knowledgeable other professionals may be, and how willing they are to help. I had one client with private banking accounts at two different branches of the same bank, one did everything for the client, filled out the forms, made all the arrangements, etc., the other only provided blank forms and told the client to fill them out and figure it out. I've been shocked by how little some professionals know, and how unwilling they are to pick up the phone and call their main office for support. At the same time, some professionals I've dealt with were absolute experts who knew more about the legal aspects than many attorneys, and who would go the extra mile for their clients just because that's who they are.


r/EstatePlanning • • 2h ago

Yes, I have included the state or country in the post Ethics for receiving unexpected majority in blended marriage

24 Upvotes

In California.

My mother and her husband married 20 years ago. Each have adult children from previous marriages, but none together. They created a standard marital trust setup, which generally gave his 4 kids 50%, and myself and my sister 50%. After 10 years, my mom was 'coerced' (not in a illegal way) in to switching it so each kids got 1/6th. They lived in CA this whole time.

Fast forward, after selling the house and moving to assisted living, and then after a few years, ultimately to memory care, her husband passed away. As it turns out, NONE of the assets were put in the trust, except the house. There was one account that the trust owned, and it had like $6K and that's it. but other than the house and their working expenses, the rest of their money was in retirement accounts, which never belong to a trust and can't be distributed directly to a trust. Anyway once they sold the house, the money was put in a joint account, and then that money went to my mom when he died. That was the only cash they had. He had an IRA worth about $300K, and that went directly to my mom as the beneficiary. So now, all of the accounts are soley in my moms name. Her estate attorney stated that it was fine to drain the trust account reasonably quickly, since it went to her assisted living rent, and the terms of the trust were that it could be used for maintenance before being distributed per the death stipulations.

My mom now wants to essentially give my sister and I most of the money by naming us as the beneficiaries for everything, and essentially leaving his kids 'something small' like 40K each. To be clear, my sister and I are fair minded and also financially independent (good jobs etc), not greedy.

Also, there's nothing shady going on, at no point did anything underhanded take place. And until his mental incapacitation, he handled all the money, and my mom did not. He had simply not funded the trusts for whatever reason, intentional or not intentional, but this was true from the beginning, there were no last-minute shenanigans.

I don't want to get in to a lot of the family drama, but his kids never liked my mom, didn't come visit (other side of the country in Virginia), and they were kind of jerks to her. They came to his funeral a year ago, and haven't given her so much as a phone call or email since. (not really relevant, except as partially a way to share my moms motivation that there's no love lost) My mom also wants to ensure her 'bloodline grandkids' get as much as she can give them.

So anyway, as it stands, we will get a much larger share of their estate than his kids. The trusts are empty.

I don't know if I feel guilty or not, but it certainly would seem unfair if I were on the other side of the deal. I don't feel like we have much risk for any challenges, but I'm a little concern as to if they really have some grounds to challenge anything, and also is it moral to accept the money as my mother wishes to give it. Also, I am my mothers POA which is a precaution against anything happening to her but I don't manage her day-to-day, so I am exceptionally careful about not interfering with anything related to her naming beneficiaries, etc.

I did actually encourage my mom to consider splitting the beneficiaries to the existing and previous amounts in the trust, but actually she doesn't want to, and is very firm about it. (and to some extent I can't push too hard in to what might drive her decisions because I believe there were some 'issues' in their marriage as well re: emotional abuse etc., but I tread very very lightly in talking about that.)

I suppose I'm wondering how much guilt I should be carrying about us catching the lions share of their estate.


r/EstatePlanning • • 1h ago

Yes, I have included the state or country in the post What kind of attorney to help with distribution of living trust in SC?

• Upvotes

Mother died 2 years ago and sibling #2 was appointed trustee. Remaining siblings were never told of trust from mother, but found out from sibling #4, who was appointed medical surrogate. Trustee had not had any communication with siblings regarding status of trust, life insurance policies, or CDs. They have not been given yearly updates regarding use of trust money.

In January, $10,000 was advanced to the siblings after sibling #3 kept nudging the trustee. Finally, 8 months later, after many text messages, sibling #3 received two $20,000 deposits in the form of a personal check, not a check from a trust account. Sibling #3 was told their share was $50,000. Of the remaining 2 siblings, sibling #1 has received $20,000, also a personal check. Not sure what their rights are, or what the tax liabilities are.

Shouldn't they be entitled to an accounting of monies used and interest received over the 2 years since mother's death? Does trustee have a fiduciary responsibility to abide by certain protocols?


r/EstatePlanning • • 12h ago

Yes, I have included the state or country in the post Probate Attorney received citation after sending all estate documents to court

4 Upvotes

Hi, I live in Massachusetts. I'm the executor of my father's estate. After collecting my dad's assets and my brother and I signing the assent forms (we're splitting the money 50/50) my probate attorney sent everything to the court and told us it should take only 2-3 weeks. However, my attorney received a "citation" a week ago. Does this mean I did something wrong? Like forgot to add an asset or something? I didn't really understand what he said just that he thought it would be cut and dry. He says he's going to try and go to the court to clarify but I'm impatient lol and a bit worried I screwed something up. Can anyone explain this a bit better?


r/EstatePlanning • • 1d ago

Yes, I have included the state or country in the post I am the POA and successor trustee for grandmother. No will. No assets in revocable trust. Florida

10 Upvotes

Florida - Grandmother is a Florida resident. Prepared initial revocable trust in 1988. No will can be found. Lawyer who prepared original docs is deceased

Grandmother asked me to serve as POA and successor trustee in her revocable trust in 2016. We regrettably had a lawyer who didn’t specialize in estate planning complete a brief trust modification and new durable
POA. Original Trust from 1988 lists that all assets owned by trust be split evenly between my aunt and my father, her two children.

I regrettably haven’t done much estate planning with her since - she is still living and 91. She has some memory loss and can’t remember if there is a will.

I started to review and realized neither the house, car nor bank account list the trust as owner. No assets appear to be owned by the trust.

To avoid probate, should I consider moving house ownership, bank account, etc into the Trust name?

Or has the ship sailed at this point? I don’t reside in Florida.

House, car and bank account total assets approximately 200-250k value.


r/EstatePlanning • • 7h ago

Yes, I have included the state or country in the post Discretionary Trust

0 Upvotes

Hi my mother passed away last year and left an estate worth approximately 1.6m, I a (beneficiary) was left 15% in a discretionary trust, which is up to the discretion of my brother and sister (trustees) who i do not have a great relationship with. They stand to inherit up to 500,000 each, they own their own homes, have good jobs etc, i am on disability allowance due to a mild intellectual disability and i do not own my own house but i would like to. Where do i stand here? I have a long term partner and we look after kids in care.. As far as i can gather they can give me as much or as little as they feel like? Is there anything i can do about this? Probate has not been released yet, i have a solicitor involved but they are very slow getting back to me? Am i very much at the good will of my brother and sister or can i challenge their input this as i dont have much confidence in them that they will be fair about this? Thanks in advance for any advice. I live in Ireland.


r/EstatePlanning • • 22h ago

Yes, I have included the state or country in the post Surviving Spouse is moving fast (California)

4 Upvotes

I want to preface that I do have a probate attorney but they are out of office so I was curious the general thoughts around this. Executor has not yet been determined.

I was made aware that the surviving spouse who had moved out two years ago has started to move items in and out of my father’s house. They maintained separate property during their marriage, although she previously lived there. Items removed include separate property purchased prior to the marriage such as a car. They have gone no contact so won’t answer any questions I have.

I have concerns obviously that this stuff should be handled by probate. I have concerns about what she is doing at this house. Curious does this seem like she’s allowed to do this? Can she remove property like a car? Can she potentially move in?? From what I was made aware prior to my father’s death, she had no stuff still there.


r/EstatePlanning • • 1d ago

Yes, I have included the state or country in the post Oregon Estate Tax

23 Upvotes

There used to be a lot of stories about people moving from California to Oregon (and about people in Oregon being upset about it), but it seems to me that there's a huge disincentive for high net-worth individuals to move to Oregon. For example, someone with a $25M estate who moves to and dies in Oregon would pay about $3.5M in estate taxes (according to an online calculator). The estate tax in California is zero, so you're basically paying $3.5M to live in Oregon. Is that right? Do they just not want high net worth people to move to Oregon?

What if you had a second home in Oregon? If you lived 6 months and a day in CA (or some other state), would Oregon have any claim for taxes against your estate? I could see potentially the value of the property in Oregon, but what about cash/investments?


r/EstatePlanning • • 23h ago

Yes, I have included the state or country in the post Florida (Palm Beach County): How do I find out if my mom had a will?

3 Upvotes

My mom recently passed away (Florida - Palm Beach County), and I don’t know whether she had a will. I remember finding a power of attorney form while going through her paperwork, but I somehow misplaced it. I thought it might help me identify an attorney she worked with.

She didn’t own property or a car, just bank accounts I’m trying to sort through. I don’t know how much money she had or whether there are other accounts.

I called the Palm Beach County probate office, and they said they don’t have anything on file right now. I’m not sure how to find out whether she had a will or who might have prepared one.

I’d prefer not to hire an attorney until I have a better idea of whether there are sufficient assets to justify the expense (which I’m leaning towards there isn’t).

Does anyone have advice on how to find a will or identify an attorney she may have used, and what steps I can take on my own first/and ideas on how to navigate?

Thank you!


r/EstatePlanning • • 1d ago

Yes, I have included the state or country in the post Atlanta Georgia Trust and Estate Attorney testimonials?

1 Upvotes

With zero irl guidance or knowledge of the matter at hand, I'm seeking a Trust and Estate lawyer in Atl.

Input from individuals who have benefitted directly from the work of whomever they're referring is ofc optimal, but at this stage in my research I prob ought to remain open to whatever suggestions Im able to procure from y'all.

I do, however, ask that recs are provided with even as little as a sentence that will offer some insight as to why that lawyer would be a good choice.

Names of attorneys or offices that I should NOT enlist would be valuable as well.

I've scoured earlier similar posts in the sub and beyond, but I'm encountering either old inquiries or unsatisfactory replies (for example, simply the attorneys name and nothing else, or law offices waaay otp).

I'm extremely appreciative of you for reading this far and/or whatever it is you have to share.


r/EstatePlanning • • 1d ago

Yes, I have included the state or country in the post Mechanics of PA's REV-516 Tax

3 Upvotes

First, I'm relatively surprised to see how much the inheritance tax is in the state of Pennsylvania. For amounts that would go to nieces/nephews/friends, it's a solid 15%.

My question is regarding the mechanics of the payment:

  1. Would the beneficiaries owe 15% up front, or is it paid out of the assets they are inheriting? For example, if someone is inheriting, $250,000, do they have to put up $37,500 first, or will the financial custodian (bank, etc.) remit the appropriate amount to PA, and the net remainder to the beneficiary?
  2. Does it matter if the assets are in an IRA, or other pre-tax, account? The odd part could be paying $37,500 in taxes, then getting an IRA of $250k that you have to withdraw (taxable income) over the next 10 years. If you just assume 20% in taxes, they would see $200k over 10 years (250k * 0.8), and considering they put up $37.5k to get it, they are left with just $162,500. Yes, they came out ahead, but they had to have a spare $37.5k they were willing to part with initially.
  3. How do people handle all of this complexity in the state of PA? This seems like quite a bit of hassle. Doing the whole "trust/estate dance" isn't a great alternative due to the extra leg work involved either.

r/EstatePlanning • • 1d ago

Yes, I have included the state or country in the post Co trustees vs primary and successors. Which is better in KS

2 Upvotes

My mum has built a trust in KS, USA. She stated that all 3 kids were equal. However, it is written out as Kevin is successor, if he is unwilling or unable to then Julie is successor....then Jeff is successor.

This means that Kevin is the main person and the other 2 have no say in who gets what when my mom passes, correct?

She called the company that set up her trust to change it where all 3 were Co-trustees. But they told her that the way she had it now was better because someone always gets left behind with co-trustees.

Is this true? We do not trust the oldest to be fair and want to make sure we are not screwed.

Any help is appreciated.

Location: Kansas


r/EstatePlanning • • 2d ago

Yes, I have included the state or country in the post (California) Solo Estate Planning Attorney: Is It Unprofessional to Tell Clients I Can’t Store Their Original Documents?

14 Upvotes

Hi all,

I spent the last three years at a larger estate planning firm that had an entire basement dedicated to storing clients’ original documents for those who opted in.

Now that I’m on my own, I don’t have the space to offer that service. My retainer agreement includes a paragraph stating that clients will receive their original documents at the conclusion of their matter.

A few questions:

  1. Is there anything wrong with this approach?
  2. For those who follow the same practice, how do clients typically react?

Appreciate any insight!


r/EstatePlanning • • 2d ago

Yes, I have included the state or country in the post Beneficiary survived the people who created the trust but died before any money was distributed. Does his share go to his estate?

16 Upvotes

I’m the court-appointed administrator of an estate in Virginia, and I’m trying to figure out what happens to the deceased’s share of a family trust.
The two people who created the trust both died in March 2026. He was a named beneficiary and survived both of them. He then died in August, before any money from the trust had been distributed to any of the beneficiaries.
I’ve only been given one page of the trust. That page says he receives one share “if he survives the Donors.” It also names other beneficiaries who would receive his share if he did not survive them.

That’s where the disagreement comes in. He did survive both of them by several months. But his family is saying his share now stays in the trust and gets divided among the remaining beneficiaries instead of being paid to his estate.

I thought there might be a difference between dying before the people who created the trust and dying afterward while waiting for the money to be distributed. I’m trying to understand whether he became entitled to his share when they died, even though he hadn’t received it yet.

I don’t have the complete trust or any amendments, so I realize there could be other wording that matters. I’ve contacted the law firm that prepared it and sent my administrator paperwork, his death certificate, and the page I have. I’m still waiting for a substantive response.

Would his share generally go to his estate in this situation, or could it go to the remaining beneficiaries because he died before any money was paid out?


r/EstatePlanning • • 2d ago

Yes, I have included the state or country in the post Heartbreak!

93 Upvotes

California, USA.
My beloved aunt passed away rather unexpectedly last year. She was recently divorced, no kids, and died intestate. Not one TOD account. Her entire estate must now be divided among her five siblings, none of which live in the US. I volunteered to administer her probate, as I am the only family member who lives in California, where she also resided. According to probate, I only get the statutory pay, which is like 1.5% of the value of the estate. I was fine with this- I wanted to honor her memory and have my aunts and uncles remember her fondly (and not have their last memories of her associated with battling probate in a language they don’t speak).
Turns out, the family has known that my aunt intended for me to inherit her jewelry collection (worth $1million, I would know as I had it appraised) - despite her not putting anything in writing, it was something she had apparently spoken about to several family members and friends. This is utterly heartbreaking, for so many reasons. I kind of wish my mom had not told me. I know there’s nothing I, or anyone, can do about it, but that doesn’t make it any less heartbreaking and frustrating and maddening.
That’s all. Go and set up a trust if you don’t have one.


r/EstatePlanning • • 2d ago

Yes, I have included the state or country in the post What constitutes a "simple" estate?

15 Upvotes

The FAQ on this sub states:

if your situation is so simple a DIY is sufficient, then you probably don't need a Will so there's no need to spend money on one, and if your situation requires you to have a Will then it's probably more complicated than DIY can handle.

But what constitutes a "simple" estate? It seems like many people believe they have one when in reality they do not.

For example, here's my situation that I'm trying to determine if it's "simple" enough to get away with a DIY solution, or according to the FAQ, perhaps no solution:

  • Early 30's
  • Single and no plans to ever get married
  • No children and will never have any
  • Only immediate family is my dad, and a mom & half-sister I have not had a relationship with for most of my life
  • Assets:
    • House: $800k (own around 50% equity)
    • Investments: $1.5M (mostly index funds split across a few accounts; some taxable, some retirement)
    • Cash: $100k
    • Cars: ~15k
  • No debt other than house mortgage
  • Location: Washington state

I'd liquidate everything and leave it to my dad while he's still alive and maybe something for a few close friends/charities.

This feels fairly "simple" to me, but is it really? If not, what is?


r/EstatePlanning • • 2d ago

Yes, I have included the state or country in the post Trustee reducing distributions after finding out I gamble.

0 Upvotes

I recently learned I am a beneficiary in my grandfathers will. After speaking with the attorney and trustee multiple times he said I would be getting a certain amount in distributions each month. After he found out that I gamble he is reducing the amount significantly. Is this allowed? Is there anything I should do ? Florida.


r/EstatePlanning • • 2d ago

Yes, I have included the state or country in the post What’s a fair inheritance solution when one sibling wants to buy a family property below market value?

8 Upvotes

Looking for some outside perspective on what would be fair in this situation.

My parents own several investment properties in SC that my siblings and I have always been told is our inheritance. Currently set up that everything is to be split evenly split between us.

One of my siblings, who is not in a great spot financially, has approached my parents to buy one of the properties below market value. Of course they want to help him but also want to be fair to the other kids. They asked me what I thought would be a ‘fair’ solution since they are receiving the inheritance early.

The property in question is a duplex and nets them currently about 30k a year(no mortgage). They don’t need the money so it basically is put away.

My parents will likely live another 15 years, and I’m trying to think through what would be fair to everyone in the long run.

A few things I’m considering:

If my parents sell one duplex at a discount, should the difference between the market value and sale price be counted as an early inheritance and deducted from that sibling’s eventual share?

Should the remaining rental income over the next 15 years factor into the equation, especially since my parents don’t currently need the money?

What would you consider fair in this situation?

I’m not trying to prevent my sibling from buying the property. I am looking for solutions how to approach this in a way that’s fair to everyone and minimizes resentment down the road.

Edit to add -
-The discount is $300-400k, which I think is why they are asking and more concerned than if it was 50k.
- I have told my parents that it is their decision, it’s their money/property. But we have had family conversations around inheritance and end of life care due to health scares and other family situations. They have built their wealth through real estate and with the goal to be able to leave at-least that to us, knowing life is life and money could be needed for other things.
- they plan to talk to attorneys/tax professionals before anything is final.


r/EstatePlanning • • 3d ago

Yes, I have included the state or country in the post Question about my mom and dads Will

19 Upvotes

My mom and dad had an attorney draw up a simple Will before he passed away.
The Will is 30 years old . My dad passed away in 1990. The Will read that if he passed before my mom, she would receive all property and assets. If they passed together, then all property and assets would be divided equally between their 5 children.
When he passed, she probated the Will in Texas. She is currently 97 and very physical and mentally able to manage money and live independently. She has asked me to be the executor of her Will and my younger sister be 2nd executor if I am unable to serve. My two older sisters were the executors since the Will was drawn up. They are older and live hours away. My question for someone that is knowledgeable of Texas estate planning and family law …
How do I change executors ?I have a copy of my parents Will and dad is the only person that signed it… mom probated it when he died.

Question: what is the correct procedure to change executors and POA… etc.
I do not have a Will where my mother signed, but I have the county court record of her probating his Will.


r/EstatePlanning • • 3d ago

Yes, I have included the state or country in the post Where to sell parents items

19 Upvotes

My parents recently passed away and have left a lot of things I have no knowledge of. Things like hunting gear, fishing gear, old collectibles, etc. I know it has value and I hate just tossing it out.

Does anyone know the best place I could go to in order to find someone who may have interest in the items and want to purchase it. My parents did not have a lot so it would also be helpful to have the extra money for settling the estate.

Any suggestions would be greatly appreciated.

Location: upstate, New York


r/EstatePlanning • • 3d ago

I haven't included location & understand my post may be deleted. Amendment

0 Upvotes

Does an amended trust need to be notarized?


r/EstatePlanning • • 3d ago

Yes, I have included the state or country in the post (Colorado) was it a mistake to make Edward Jones a corporate trustee?

3 Upvotes

I'm having a trust made up that designates this institution as a corporate trustee and my children's guardian (if we die) as a second trustee.

My kids are all under 5 years old.

Will they be able to get substantial HEMS or will Edward Jones keep money from them?


r/EstatePlanning • • 3d ago

Yes, I have included the state or country in the post Won several hundred million in the lottery: Is appointing an attorney as trustee a good idea if I have no one to trust, and is a trust even necessary?

0 Upvotes

Hi everyone,

Let's hypothetically, or not, say I just won a massive lottery jackpot (several hundred million dollars), and I am trying to figure out the best way to handle the claim, privacy, and management.

I have a couple of core questions and would love advice from estate planning attorneys or anyone familiar with windfalls:

1. Appointing an attorney as trustee: If you literally have no family members or close friends you trust to manage a massive sum of money, is appointing an attorney or a corporate/professional trustee a good idea? What are the pros, cons, and risks of having the lawyer who set up the trust or another attorney also act as the trustee?

2. Is a trust actually required? Do you have to use a trust to claim lottery winnings, or are there other legal ways to handle/bypass it?

3. Alternatives to a trust: What about setting up an LLC or claiming it through other structures? How do those compare to a trust regarding privacy, liability protection, and taxes?

For context, assume South Carolina rules apply.

Any guidance on the immediate first steps before signing the ticket would be deeply appreciated.

Thank you


r/EstatePlanning • • 4d ago

Yes, I have included the state or country in the post Do I really need a probate lawyer?

13 Upvotes

My location: Minnesota, USA

My dad passed away about a week ago. My mom (his wife passed away in 2020). My dad owns 2 parcels of land with his 2 sisters as "Joint tenants in common." We figured the land would also end up coming to us once he passed, and I believe that's exactly what he figured too.

He also has a bank account - however I don't have access to it and it looks like I might need to go to a Judge and become the administrator.

Other than that, his retirement was set up already to come to my brother and I, so we didn't need to do probate for that.

A lawyer we did talk to said not to pay any of his bills or anything as well.

Can I file an affidavit of collection of personal property since I know his bank accounts had less than $75k?

It feels relatively straight forward, of course I will have to do my research but it's really just the land & getting into his bank accounts I think that needs to happen. I did not envision I would lose both of my parents before I was 40 but here I am.