I spend a lot of time teaching my estate planning clients how to avoid probate and how to protect their children’s inheritance from divorce and creditor claims. In a nutshell, this is what I tell them:
If you establish a living trust and transfer your assets to the trust, your family will not have to experience the hassles and costs of probate when you and your spouse pass away. In addition, we can design your living trust so that when you both pass away, your assets can be allocated to separate lifetime protection trusts for each of your children to protect their inheritance from divorce and lawsuits.
You will not directly benefit from your estate plan. Why? Because you won’t be with us at that point.
But what if you could benefit from someone else’s estate plan? Yep. I’m talking about your parents. A surprising number of my clients tell me that their parent’s do not have an estate plan. There are many reasons for this, but usually it’s because they though estate planning was too expensive and complicated.
What if you offered to pay for your parent’s estate plan as a Christmas gift to them – knowing it’s really a Christmas gift to you? When your parent’s die, you will have the burden of administering the estate. Do you really want to go through probate? Wouldn’t you like your inheritance to avoid probate and be significantly protected from divorce and lawsuits?
Why not give your parents an estate plan for Christmas? You can pay the attorney directly, or even better, make a cash gift to your parent for the attorney fee. Just don’t ask them to disinherit your brothers and sisters and leave everything to you – that could be undue influence and get you in trouble.
As you already know, we make estate planning very easy and uncomplicated. Two attorney meetings and done in two to three weeks. Our typical fixed fees range from $1500 – $2000 for a comprehensive custom living trust estate plan, and we provide our clients unlimited access to our attorneys for questions for free.
Remember that sense of relief you felt when you signed your estate planning documents? Why not experience that again by making this month the month you help your parent’s get their estate planning done?