Last Will and Trust (at Last!)
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FacebookIn late November, I wrote about the fact that we were finally putting together an estate plan. Well, last Friday, just before everything shut down for the Holidays, my wife and I finally put the whole “last will and testamentary trust” thing to rest… And not a moment too soon, as this was one of our New Year’s Resolutions dating back to January 1, 2006. Even though it took 11.75 months to get it done, it still counts. Right?
Published on December 29th, 2006 - 6 Comments
Filed under: Planning
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About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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Yep, it still counts.
Comment by Blaine Moore — Dec 29th 2006 @ 2:51 pmCongrats! We still have to finish ours up!
Comment by David — Dec 29th 2006 @ 9:59 pmGreat job! My husband and I are about to start the same process now that we have a 1 year old son. I was wondering, how much did the lawyer charge you, ballpark? Want to know the going rate for this type of thing.
Comment by Jessica — Jan 10th 2007 @ 4:00 pmJessica: More details here. The wills and trusts cost $450 ($225 each for my wife and I) and the power of attorney stuff was $75 apiece. Total was $600. I was quote less by some attorneys, but nobody that we trusted.
How do we decide how to set up the trust? Our sons are only 19 months apart … do we choose to split the trust equally upon our death or after the youngest son finishes college? Any advice would be appreciated!
Comment by Shannon — Feb 17th 2007 @ 8:07 pmShannon: Ask and ye shall receive…
“How Our Estate Plan is Structured”
That post explains everything — we have four boys spaced over seven years, so it was an especially tricky issue for us.