Quality Estate Planning at Reasonable Prices

Our Estate Planning Services:

 

Prices indicated are base prices, current as of January, 2012.  Additional fees may apply, and prices may change without notice.  Prices for Wills and Living Trusts are package prices.

 

Last Will & Testament:                              Price: Individual $550; Couple $800

Package Price: Includes Will, Financial Power of Attorney and Advance Health Care Directive for each party.

Ø      used for smaller or less complicated estates;  names beneficiaries to receive assets;

Ø      name guardians; can establish testamentary trust(s);

Ø      wills do not avoid probate.

 

Revocable “Living” Trust/ Family Trust:      Price: Individual $1350; Couple $1725

Package Price: Includes Trust, Pourover Will, Financial Power of Attorney and Advance Health Care Directive for each party (or a joint living trust for a couple).

Ø      provides incapacity planning for each party and inter vivos (valid during lifetime)guardianship arrangements for minor children in case of the parent(s) incapacity;

Ø      used for larger or more complicated estates, or where privacy and/ or disinheritance are concerns;

Ø      designates beneficiaries to receive assets;

Ø      establishes Bypass, Special Needs, Testamentary Minors’ or other “add-on” trusts;

Ø      avoids probate. 

 

Bypass Trust:                                                            Price: Couple $2275

Package Price: Includes Trust, Pourover Will, Financial Power of Attorney and Advance Health Care Directive for each party.

Ø      minimizes or eliminates federal estate tax;

Ø      allows use of both husband’s and wife’s exemptions from federal estate tax;

Ø      establishes QTIP, Special Needs, Testamentary Minors’ or other “add-on” trusts;

Ø      avoids probate; 

Ø      can provide lifetime support of the surviving spouse.

 

Testamentary Minor’s Trust:                      Add on to a package: usually no additional charge

Ø      used to hold inheritances for children/ grandchildren beyond the age allowed in Uniform Transfer To Minors Act gifts;

Ø      restrictions and distribution ages are determined by the grantor;

Ø      if beneficiary is under a certain age (usually 30 or 35), his inheritance is held in trust so that he can mature before being given a large sum of money;

Ø      allows individual with divorced children to prevent child’s ex-spouse from controlling grandchild’s inheritance.

 

Special Needs Trust:                        Add on to a package: usually no additional charge

Ø      provides support for a disabled child which continues beyond the death of the parent(s);

Ø      protects the disabled individual’s right to Medicaid or other public entitlement programs.

 

Qualified Terminable Interest (“QTIP”)Trust:          Add on to a package: usually no additional charge

Ø      used in second or subsequent marriages;

Ø      allows grantor to support a surviving spouse for his or her lifetime, without allowing the surviving spouse to determine the eventual distribution of the grantor’s estate. 

 

Irrevocable Life Insurance Trust:               Price: Alone: $950; With Other Package $800

Ø      used with estates larger than the current exemption from federal estate tax;

Ø      holds life insurance paid for by the grantor in a vehicle not includable in the grantor’s taxable estate;

Ø      allows grantor to pass funds to his heirs in excess of the unified credit amount without paying estate tax.

 

Irrevocable “Crummey” Trust:                   Price: Alone: $950; With Other Package $800

Ø      used with estates larger than the current exemption from federal estate tax;

Ø      holds assets that the grantor is ready to pass on to his heirs (with restrictions);

Ø      allows use of annual “gifting” to reduce the size of grantor’s taxable estate.

 

Prenuptial Agreement:                                Price: $950: document/ representation of one party

Ø      contract specifying division of assets, if any, between an engaged couple who wish to leave their assets to persons other than the new spouse;

Ø       allows a couple to define distribution of property in case of possible divorce or separation.


Incapacity/ Incompetency Planning:

 

Advance Health Care Directive: 

Ø       power of attorney allowing the creator to make advance decisions about treatments for possible future health problems;

Ø       allows the creator to name a trusted individual who will make medical decisions in the event that the creator can not make his or her own decisions.

 

Durable General Power of Attorney:

Ø       allows creator to choose a trusted individual to make business and financial decisions in the event that the creator is not able to make his or her own decisions.

Disposition of Remains Power of Attorney:

Ø       allows creator to choose a trusted individual to make funeral and cremation decisions in the event that there is no "next of kin" (or if the existing next of kin does not agree with the disposition decision of the creator) to do so.