06/11/2024
AVOID PROBATE
AVOID COST OF PROBATE
AVOID DELAYS AVOID PAPERWORK
NEW SERVICE
FOR ONE PRICE, WE WILL PREPARE FOR YOU:
1. A REVOCABLE LIVING TRUST (to avoid probate), INCLUDING “General Power of Appointments”; also assistance in transferring personal property to trust, advice on TOD, Beneficiary changes and Deeds to transfer assets to trust. The trust is revocable and you remain in control of your property until you pass;
2. A medical directive (a/k/a living trust);
3. A durable power of attorney for management of your financial affairs in the event you become incompetent to do so; and
4. A pour over will in the event you failed to transfer property to your revocable living trust before your death or have failed to execute TOD documents or name beneficiaries of any financial contract, which then require probate.
All these services for one flat price of $1,000 for one person and $1,250.00 for a married couple without a trust for minor children or other third parties. A trust for the benefit of children or third parties will cost an additional $500.00. The total value of your Estate cannot exceed Ten Million dollars to qualify for this service.
I reserve the right to decline service for any reason.
I also provide assistance to trustee to handle the trust and what to do upon your passing, but additional charges will be made for that service.
MYTHS that can cost you money
1. If I have a will, I can avoid probate. This is incorrect. In fact, the surest way to have your property administered by probate court is to have a will. Probate can take at least one year and sometimes longer and you incur costs for your personal representative and/or the estate attorney plus the cost and expense of administration. In other words, probate can get expensive.
2. If I put my property in joint tenancy with my heirs, I can avoid probate. Yes, but this is very dangerous as the other Joint tenant might try to take control your property. Also, any judgments against your joint tenants will become liens on your property.
3. I can take care of everything by Take on Death (TOD). Yes but if you change your mind, you have cost in making these changes; it is cumbersome and inconvenient. With a revocable trust you only do it once or change the terms of the trust as needed.
4. Beneficiaries of a contract such as life insurance can only be changed by going through a slow cumbersome and inconvenient process. With a revocable trust you only do it once.
5. It is too expensive to do the revocable living trust. Yes, it does cost, but probate can cost a whole lot more. Fees set by probate code are as follows:
• 5 percent of the first $5,000
• 4 percent of the next $20,000
• 3 percent of the next $75,000
• 2.75 percent of the next $300,000
• 2.5 percent of the next $600,000 and
• 2 percent of everything more than a million
RSMO 473.153
Both your personal representative and the probate attorney are entitle to this fee. That’s double fees and it doesn’t include other costs such as publication, court cost, etc.
Because it is a public record, your private affairs are open to the public.
We offer free initial consultation. Payment plans are available. Call today at 573-756-7555. The office is in Farmington at 144 Walker Dr. It is just off Hwy 67 at HWY 221 (Columbia St.) Don’t delay, call today.
