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  1. #11
    Join Date
    Dec 2013
    Posts
    810

    Default Re: What Happens if Money is Left to a Minor Child

    My employer provides pays for an estate planning attorney up to 150 dollars. I am not really sure how much time 150 dollars will get, so I want to make sure I have a small understanding prior to meeting with them so that I get the most out of that 150 dollars. I really appreciate everyone's time.

  2. #12
    Join Date
    Aug 2013
    Posts
    219

    Default Re: What Happens if Money is Left to a Minor Child

    My father had his trust prepared by the guy who did his life insurance at no cost. You get what you paid for. I took me $3,500 in attorneys fees to fix the mistakes. On the other hand, a trust based primarily on life insurance proceeds sounds a lot simpler. But do it now. And include a notarized letter of your intentions. If this goes to court, that will help, a lot. It helped my a lot that my father's trust document was 100 pages longs, and had intentions spelled out in great detail. Not just money, but HIPAA stuff, and end of live instructions and burial instructions. We had to go to court to get some mess ups resolved and the detailed instructions were considered very useful by the judge. As was no challenges to what we were trying to do. Due to a single typo, I had two valid trusts, one with instructions and no assets, and the other with assets and no instructions. Moreover everything but the house had been moved over the bank and I had already signed a bunch of bank paperwork while my father was still alive, which functionally created a third trust covering all the bank assets. So I was tight with the bank but had the house in the name of an unintended trust with no trustee.

    This is not DIY stuff no matter who tells you otherwise.

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