Is WYSIWYG really true with Estate Planning?
Estate Planning attorneys advise that, as a rule, a client should always have a will. This is to prevent intestate succession, and the state dictating how a person's property should be distributed (or not.) Drafting a will (having a will drafted by a lawyer) should not be expensive; this is the mantra heard throughout the industry. Yet, there are folks who consider $500.00-$1,000.00, depending on whether an individual or a couple, a lot of money. Compared to the cost of probate, on the other hand, it isn't a lot, however, those persons doing the comparison, aren't concerned with the cost of probate, after they are deceased; they are concerned with how they are going to pay for the service NOW.
An individual who is married, as an example, but has a legal separation, so for purposes of estate planning, may be considered single. If he/she owns a home, and a car, has a retirement plan through their employer, and a checking account and savings account, they may be able to manage their estate plan using some alternative tools.
Stay tuned...
