Dissolve L.R.Trust that's too hard to keep re-titled?

[Rosedala]

THANK YOU ALL FOR YOUR TIME AND ADVICE! BYE.... Rosedala

 

[45th Birthday]

Thanks, I feel exactly the same way, gwraigty, problem is this is the 2nd lawyer as my good lawyer of many years retired and moved out of state. So if I go to a third one, more competent, I will have paid 3 fees!!! So though I'm enraged and do want to change this one, I feel kind of ridiculous to pay a fortune for the 3 lawyers.....

Based on this thread http://www.early-retirement.org/forums/f28/hired-the-wrong-estate-attorney-what-to-do-90901.html you are already on at least your third attorney...

 

[copyright1997reloaded]

Is it really that onerous to put in a few extra words when you open up a new account? How often do you do it? Also, if you simply keep a copy of the relevant sections handy to give to the institution (I think it's Section 1 and Section 8), it's not too onerous.

The big advantage is you avoid probate. While probate isn't the greatest challenge, you have to legally retitle every single asset when you probate something, as you go through the courts, wait on judges, etc. It could cost you several % of your estate to probate it, versus spending AT MOST, what, maybe 3 hours total for the rest of your life to retitle a few accounts?

The whole reason you go through the process of making a RLT is (primarily) to avoid probate. You are at Mile 20 of a 26 mile marathon. Don't quit now and say "I'm too tired to finish this race. I'll instead do the 100 mile marathon tomorrow."

Ultimately, it's your call - but if you would be bothered by a charity wasting several % of your estate, then why waste it in the courts through needless bureaucracy?

Just a little humor here...as someone who has run quite a few marathons, the last 6 miles is more difficult than the first 20.

 

[Rosedala]

Based on this thread http://www.early-retirement.org/forums/f28/hired-the-wrong-estate-attorney-what-to-do-90901.html you are already on at least your third attorney...

Correction my good man. I'm on a 2nd atty. The first of many years retired and moved out. So I got the present one.

May I ask what's your point here sir Goodbye.

 

[Texas Proud]

Correction my good man. I'm on a 2nd atty. The first of many years retired and moved out. So I got the present one.

May I ask what's your point here sir Goodbye.

I would not count your second as your second.... the first retired and that is expected from someone who is older... sounds like you picked well and had them for awhile...


Your 'second' seems not to be a good pick... chalk it up as a learning experience and move on... you probably now have more knowledge to ask your next potential attorney what you need to know... and hope he does not lie to you about how he does business...


Like any professional, if you have problems with them you should move on... too many out there to stay with someone who is bad... BTW, I am now on my 4th or 5th doc in the last 5 or 6 years... they seem to go in and out of insurance policies and groups and it is hard to keep one..


A couple were due to us changing policies twice and others changing what insurance they accept... two also quit and moved somewhere else...