| How much can I save with a Living
Trust? |
| PROBATE SAVINGS: Generally,
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$14,000 on a $200,000
house.
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$16,000 on a $250,000
house.
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$18,000 on a $300,000
house.
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$20,000 on a $350,000
house.
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$22,000 on a $400,000 house.
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I have a rule of thumb that
a client should save $10 for every $1 they spend on an
attorney.
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If the client spends $1000
on a trust, the client should get at least $10,000 in probate
savings.
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If you spend $1500 or more
on a complex trust, you save the probate fees and also save on Federal
Estate Taxes, which can save up to $435,000.
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With a house worth approximately
$200,000, you would save $14,000, justifying a $1400 trust
investment.
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My Legal fees are not
calculated on the basis of the value of the home or other assets.
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I believe anyone with a home
worth $200,000 or more should set up a living trust. Anyone with a home
or other real estate can avoid probate with a properly drafted living
trust.
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