Legal Question in Wills and Trusts in Michigan

What is a reasonable cost to develop a trust fund in Michigan for a married couple with adult children


Asked on 1/19/12, 5:18 am

1 Answer from Attorneys

Don Rosenberg Barron, Rosenberg, Mayoras & Mayoras, P. C.

It is not about the documents it is about the planning. Any one can profess to do the documents. The estate plan should include the following documents and discussion about each one. Living Trust, Durable Power of Attorneys for Health Care (effective immediately for day to day medical decisions), Durable Power of Attorney for Financial Decisions (with extraordinary gifting powers) Appointment of Guardian, Pour Over Will. As important as the documents are the is the critical process of funding the trust, making sure all assets are retitled to the trust or directed to the trust. There is also the decision to put the home in the trust or not. Usually, we do not and use a Lady Bird Deed.

Then there are the issues of assimilating your children with the guardian's family.

As for cost prescription without diagnosis is malpractice. However, a broad ball park would be $2,000 to $2,500, provided no estate tax planning or special needs planning. If it is less I would be suspicious of what you are getting.

I know our credentials speak for themselves. We would welcome the opportunity to provide a free consult. Here is my website: thecenterforelderlaw.com and my email [email protected]. There are a ton of articles on estate planning on our web site.

Good luck.

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Answered on 1/19/12, 5:31 am


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