Estate Planning

Mr. Bond has done thousands of estate plans for his clients. Clients range from those of modest means to the very wealthy. Some clients use Will-based planning where the Will is the main estate planning document complemented with a Statutory Durable Power of Attorney, Medical Power of Attorney, and Directive to Physicians. Other clients use Trust-based planning where the main document is a Living Trust combined with a Pourover Will, Statutory Power of Attorney, Medical Power of Attorney, and Directive to Physicians. Trust planning is more expensive than Will-based planning.

A Will package (Will, Statutory Durable Power of Attorney, Medical Power of Attorney, and Directive to Physicians) for a single person will typically start at around $600. For a married, couple, the cost would start at $750. A Trust package (Living Trust, Pourover Will, Statutory Power of Attorney, Medical Power of Attorney, Directive to Physicians and funding the trust) will start at around $2,575. For a married couple, the cost would start at around $2,775.

Everyone needs to do their estate planning, but frequently we don't feel the urgency. Here are the kinds of situations that should make the need clear:

  • Parents have small children. Parents need to create trusts for those children in case the parent(s) perish. If no trusts are created, the parents will have little control of the situation, and family members will have a troublesome and expensive process to gain control of the assets for the children.
     
  • Children are not responsible with money, have credit problems, or marriage problems: Proper estate planning can protect family wealth.
     
  • Large Individual Retirement Accounts: Special IRS rules govern inherited IRAs. The estate planning needs to consider the best way to handle these assets.
     
  • Parents are elderly: As people age, estate planning enters a critical phase. Disability planning becomes a high priority. Family members need the power to help aging parents. Existing Wills and Trusts need to be reevaluated.

Mr. Bond offers a free initial consultation to discuss your estate planning. Towards the end of the consultation, he will quote you a flat fee for the preparation of your estate planning documents. Clients pay one-half of the fee when they decide to proceed; the remainder is due when the documents are competed to your satisfaction at the delivery appointment.