Executing your estate plan: Who do you like better – your attorney or your family?

That may seem like a ridiculous question, but the truth is a great number of people handle their estate in a manner that makes the question worth asking. If you automatically turn your estate over to an attorney, they will typically charge 5-10% of your total estate. As is often the case, this can easily be avoided by having a trust in place through an estate planning company. The savings to your estate will be substantial, and in turn those funds will be passed on to your family.

Moreover, if you have a will or don’t have a will, you will go through probate if your estate value is greater than a total $25,000. A free, no obligation review of your estate plan can tell you how much hassle, time and money you can save your family.

Recently, one of our clients sadly passed away, leaving more than a $2 million estate to be divided between her children. Her daughter insisted on using an attorney to settle the estate in contradiction to the process his mother had in place with our firm – until it was determined that the cost for having them simply follow procedures that are already in place would cost the inheritance more than $100,000. Once you begin to look at the options in real numbers and not simply as a ‘fee’, the logic of seeking additional options from an estate planning specialist becomes more evident. We saved the family thousands and thousands of dollars by simply executing a revocable living trust that their mother thoughtfully planned ahead of time with our assistance.

When the time comes to pass along your estate, take the time to plan your settlement around those who you care for most – your family.

Senior Estate Associates is a licensed estate planner in western Pennsylvania. All legal work is done by one of our PA licensed attorneys.

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