Choosing An Estate Plan Attorney
This article starts out kind of ho-hum, but at the end has some very good suggestions on what questions to ask to pick an attorney. I will add this to my arsenal.
Do you have anything to say to agree or contradict the advice given? I think I'm OK with mine, but did it mostly on references. I didn't do as good a job of asking the questions.
Re: Choosing An Estate Plan Attorney
I wonder if our highly respected CPA might offer recommendations based on the results of estates that he has worked with. I would assume he would recognize the difference between estate plans that worked well and those that didn't.
Indeed, protection of assets is a major factor but possibly not the only factor. I suspect that many wills are designed specifically to avoid taxes instead of facilitating the unrestricted access to assets by the heirs. As trustee for 3 family trusts, I question the value of trusts. At this point, I do not intend to follow suit.
Re: Choosing An Estate Plan Attorney
I agree with you Don, I'm not a huge fan of trusts. Seems like just a way for "planners" to get fees up front sometimes.
No question that the responsible thing to do is to have your ducks in a row. But from personal experience, I recall 20+ years ago when my Mother was getting bombarded by people telling her she had to do estate planning (i.e., she needed to pay them to do estate planning) and entered into some irreversible things such as gifting of assets.
At the time I told her that, gee whiz, you look pretty healthy to me and there may not even be an estate tax when you die, so why get carried away? As it turned out, there wasn't a federal estate tax when she died, at least not on an estate of the size she would have had had she retained all the assets. So more tax was actually paid and it had a big impact on the future of the farm.
Point being, laws change, don't get into anything you can't get out of.
Re:so what happens
we are working on a trust plan hat will leave our land as farm land forever and the profit it makes will go to buying more land --we expect it to double in size every 20 years ----a state college will administer the trust and use the land to train ag students --why wont a trust work it --i know it is complicated but the cpa and attorney we use assure us it will work and save a lot of land from useless gov programs
Re: dont jump to conclusions
the ag trust dept is a separate entity--doubt you would know much about helping young people --most obamoites dont--but my families desire is to create a trust that will take over thousands of acres farmed by [people who have no care for the future of food production and job creation--most libs are way to selfish for that and how did you know we already farm a large tract
Re: Your families desires is a great educator.
It tells meit is not your land but your parents or grandparents land and they are going to install it in a trust and let someone else manage it.
Which speaks volumes about their faith or lack thereof in you management skills. They know you would just **** it away so the need to protect their assets from you. Right? I thought so.
Re: thanks for your lie !!!
my grandparents died over 15 years ago owning 169 acres --my father died 2 years ago owing 700 acres now i own more than that and have bought it on my own with mom as partner --however that is just a drop in the bucket as to our total assets now why are you so jealous and why would you even post such a lie __CANT YOU BUY ANYTHING OWN ARE YOU AT THE GOV SLOP TROUGH--and the post was about TRUST which you dont have in the colleges and depts of theirs why not ----GOTCHA---not as CRAFTY now eh !!!
Re: hard to get over jealousy aint it
our family has had a partnership for over 80 years --since i bought in it has grown by 500%--and i am very proud to have a family that WORKS and aint on the gov slop trough---you really need to get over your JEALOUS streak --it shows as a yeller streak following you --now what have you done lately as to preserving farmland for the future --try and post a real response not one from a 3 year old --this is really fun GOTCHA--i bet you cant answer