Why Do We Offer Such a Low Priced Estate Plan?

We offer this Estate Plan as an alternative to Legal Zoom. I was having too many families of clients come to me after their parents passed away, asking to administer the trust. Well, those that did with Legal Zoom had so many problems, that we were forced to inmate a probate in order to have the assets passed down. In order to prevent this from happening, I have created the $400 On Line Estate Plan. 

If you would like to speak with the attorney, give us a call. We are happy to discuss this service with you and assist you with the process.  (786) 463-4463

What is a Trust and how is it different from a Will?

A Trust and a Will perform the same function; they both state your intention of how you would like your assets distributed to your heirs, when you would like to occur, and in what manner. The difference is that a Revocable Living Trust (RLT) is much more flexible than a Will. The RLT will enable you to create a Trust Protector, someone to oversee the trust (other than the Trustee) to make sure that the RLT is still valid given the changing tax laws, and have the power to modify the RLT (something a Will can not do).

What If I Don’t Need the Fancy Mercedes and Honda Works? Why Not Just a Will?

The biggest advantage of a RLT over a Will is the avoidance of Probate.  A Will actually still needs to go through the Probate Court. The Will only tells the Judge what your intentions were and how to distribute the assets. It actually does not distribute them itself. Much like a car without gas is just a cool place to sit and listen to the radio, the Will only acts as a statement of your intentions.

 

Probate is both expensive and a long process. It normally takes about 12 to 24 months to go through Probate, and the costs are 3% of all of the assets-that includes the value of the home, life insurance, belongings, life insurance, retirement accounts, etc. A modest estate of $500,000 would cost $15,000.

What do I get for $400?

You will receive a Revocable Living Trust as well as a Will, a Durable Power of Attorney, Living Will (Life Support), and Healthcare Surrogate, these are known as the Advanced Directives.

 

The Durable Power of Attorney allows someone to “step into your financial shoes” and handle your finances such as your bank, retirement, real estate, and apply for government Medicare or Medicaid.

 

The Living Will states your intention if you would like life support or not when you are unable to make that decision when the time arises. The Healthcare Surrogate names someone to make healthcare decisions for you when if you are unable to make them yourself.

Are there additional costs?

There are no additional costs, period. If you choose, there are add-ons to the trust that might better suit your unique situation. Please call us and you can speak with the attorney to help you determine if you have those needs. 

What if I am married?

If you are married, then we do charge an additional $100 to cover the costs of a slightly more complex trust as well as two sets of the advanced directives (Will, Power of Attorney, Living Will, Healthcare Agent).

What if I want a "Mercedes" Trust?

Of course we can accommodate your desires. Most of our clients chose the add-ons that better suit their needs. For instance, they may want unlimited phone support for life with the attorney, Staged Distributions, or Pre Nee Guardianship.

Unlimited Phone Support

We offer unlimited phone support for our clients, for life. This means that you can pick up the phone and speak with the attorney regarding your legal matters. We normally do not offer legal advice outside of Estate and Medicaid Planning, but will provide you with competent local attorneys who practice in the area that you need help, with whom we have developed relationships.

We do not “run the clock” and limit your time with us. We believe that it is important that your questions and concerns are answered. This value is good for life. It is not a one year only option.

This is for life, not a one year “subscription” like some of our competitors. 

Pre Need Guardian

If you have minor children, it is advisable to have this option drafted into your Trust. It names a person to be the guardian of your children should something happen to both you and your spouse. This is also true with an ex-spouse situation. The children’s other parent would by default become their guardian, but if something were to happen to your ex-spouse, then the two families would potentially fight over the guardianship of the children, especially if a large life insurance policy inheritance was going along with the children. The guardian would also have control of the inheritance, presumably for the benefit of the children. 

Special Needs Trust

Some families might have a special needs child and would like to preserve that child’s ability to continue to receive government benefits. They would need the Special Needs Sub Trust (a trust within the RLT) in order to protect those benefits. The sub trust directs the RLT to create the Special Needs Trust. We include the Special Needs Trust right into our Basic Trust as part of our service, without any additional cost to the client. 

Quit Claim Deed

If you have real property, such as a home or rental unit, then it is highly recommended that you put them “into” the Trust. In order to do that, you must have a new deed drafted, signed, and recorded. There is a cost for drafting the deed. 

Funding Oversight

Funding is the most important aspect of the trust. So many of my clients fail to properly fund their trusts, and thus the assets are not passed as they had anticipated. For this reason, I do offer an opportunity to have us handle this important task. Of course, if you are diligent this could be easily done by yourself. We will provide you with a funding guideline as to what to do next. 

How do I start?

The first thing would be to download the intake and engagement forms below, complete them and send them back either by fax or scan and email them back to us. Then make the payment through the link provided below.

Online Estate Plan Fees

Revocable Living Trust with Advanced Directives (Will, Power of Attorney, Living Will & Healthcare Surrogate)

Married Couple**

Unlimited Phone Support**

Staged Distributions**

Pre-Need Guardian**

Special Needs Trust**

Funding Oversight**

Quit Claim Deed**

$100.00

$550.00

$550.00

$550.00

$0.00

$550.00

$150.00

$400.00

** These are services that are only offered as an add-on to the Revocable Living Trust. Prices are subject to change.

 

If you do not plan on creating a Revocable Living Trust but would like one of our other services, please give us a call to discuss.

Forms

Fill out both forms.

 

Once completed, submit the forms via email or fax to

online@markhoffpa.com

786-364-1219

Payments can be made HERE

Free Forms

We believe so strongly that everyone should have Advanced Directives that we provide them for free download here.

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(786) 463-4463

North Miami Beach, Florida