I finally signed up for my work's group legal plan (ARAG), in order to get end-of-life estate planning done - I'm in my 40s, so nothing imminent hopefully, but I thought it would be a good idea to take care of.
It took me forever to get a lawyer on the list to respond to communication but now I have one.
I planned to do a will and medical directives/etc., but they're heavily suggesting I do a Revocable Trust. They said when owning a home and substantial assets, it's much better to avoid probate since it usually takes over a year in California to close and takes a significant % of the estate in fees.
Since both are covered by my plan, the only additional cost to me is hard cost filing fees for the title, etc. so I'm not so much worried about the cost as I am of introducing unnecessary complication.
I'm unmarried, no kids, and have a live-in S.O. I'm also significantly less than 8 figures in NW. It's a very easy financial picture.
I'm worried that since I'm not paying, they just want to bill my insurance for the higher cost trust work, regardless of if I need it, but they claim they recommend this for anyone with a house at all in CA.
Just wanted to get a read on this from the BH crew.. does this seem reasonable? What sort of future hassles does a Revocable Trust cause like trying to sell the house, etc.?
It took me forever to get a lawyer on the list to respond to communication but now I have one.
I planned to do a will and medical directives/etc., but they're heavily suggesting I do a Revocable Trust. They said when owning a home and substantial assets, it's much better to avoid probate since it usually takes over a year in California to close and takes a significant % of the estate in fees.
Since both are covered by my plan, the only additional cost to me is hard cost filing fees for the title, etc. so I'm not so much worried about the cost as I am of introducing unnecessary complication.
I'm unmarried, no kids, and have a live-in S.O. I'm also significantly less than 8 figures in NW. It's a very easy financial picture.
I'm worried that since I'm not paying, they just want to bill my insurance for the higher cost trust work, regardless of if I need it, but they claim they recommend this for anyone with a house at all in CA.
Just wanted to get a read on this from the BH crew.. does this seem reasonable? What sort of future hassles does a Revocable Trust cause like trying to sell the house, etc.?
Statistics: Posted by slalom — Wed Oct 23, 2024 9:43 pm — Replies 8 — Views 269