Estate Planning - Cost?

so to give you an insight into the biggie .

my wife was married before and her step children were taken away by her deceased husbands first wife , never to be heard from again .

her deceased husbands parents owned a decent size construction company .

so grandpa put in his trust and will those children were to get nothing .

grandpa died and everything passed to my wifes husbands mom .


at one point my wifes husband died , but his mom was still alive ...

well when his mom died the documents called for my wife and son and her brother inlaw to inherit the company .


the courts were going over the tax records and making sure everything was paid before the transfer and realized there was no provision for my wifes husband dying before his mom . that is called predeceasing .


the court said the document was defective and not only may my wife not be eligible to inherit a thing , but the estranged step children may be partners instead . ....

that was because if their grandpas paper work is defective , the judge will go by their fathers will which called for treating all his kids equally .

he advised us to try to reach a settlement out of court before he rules .

so we did .

each step kid got 180k so that was 360k and legal fees were 100k .

that one missing sentence cost 500k .

ultimately we sold our share , made money on it so it was worth buying them out .



And I’m thinking all this was prepared by an attorney?
 
And I’m thinking all this was prepared by an attorney?

Yes but they didn’t. Use an estate attorney ..they used a family general practitioner who used some canned forms .

Two different lawyers in 2 different families with the both issues we ran in to
 
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