Should I change my 25% estate Lawyer???

[Rosedala]

It sounds to me like you are really over thinking this. You have a simple estate with a will and a Revocable Living Trust, and you have named your attorney as your executor and successor trustee. You have done your job, there is nothing more for you to worry about! You don't need to have any ongoing relationship with your estate attorney, and it's a bit odd to keep sending him questions and contacting him now that your estate plan is finished. He is not expecting to hear anything else from or about you until someone calls to tell him that you've died.

After you die, his job will be to wind up the estate and close the trust according to your wishes. He's not going to spend years administering a small and simple trust because he has other work he wants to get paid for (and because he wants to keep his license to practice law). He will notify the charities that you've named as your beneficiaries, and he will transfer the funds to them and then dissolve the trust.

The only thing you need to do at this point is leave a letter with his contact information in your home where someone will easily find it if you die.

Oh THANK YOU Cathy for making me see the reality of my silly attitude toward my estate lawyer by pestering not only him but also....the wonderful members of early-retirement.org who so generously gave of their time and wisdom to help me. Thanks again so much for the great lesson!!!

 

[wolf]

It sounds to me like you are really over thinking this. You have a simple estate with a will and a Revocable Living Trust, and you have named your attorney as your executor and successor trustee. You have done your job, there is nothing more for you to worry about! You don't need to have any ongoing relationship with your estate attorney, and it's a bit odd to keep sending him questions and contacting him now that your estate plan is finished. He is not expecting to hear anything else from or about you until someone calls to tell him that you've died.

After you die, his job will be to wind up the estate and close the trust according to your wishes. He's not going to spend years administering a small and simple trust because he has other work he wants to get paid for (and because he wants to keep his license to practice law). He will notify the charities that you've named as your beneficiaries, and he will transfer the funds to them and then dissolve the trust.

The only thing you need to do at this point is leave a letter with his contact information in your home where someone will easily find it if you die.

+1. Agree. OP. Relax. You are "over thinking". Causing undo "anxiety".
Seems you have everything under control.
Try thinking about other things you enjoy doing.
Avoid getting "fixated" on this subject.
A qualified "therapist", or friend may help.
Good luck.

 

[Rosedala]

+1. Agree. OP. Relax. You are "over thinking". Causing undo "anxiety".
Seems you have everything under control.
Try thinking about other things you enjoy doing.
Avoid getting "fixated" on this subject.
A qualified "therapist", or friend may help.
Good luck.

Hey Wolf are you a psychologist? If not, wouldn't you rather be YOURSELF the one to "Try thinking about other things" instead of insulting someone who comes for help, as being fixated and needing therapy While all other kind, intelligent people in this thread are sincerely helping me...you instead chose to occupy space here to insult a person who didn't hurt you. What an arrogance...

 

[Rosedala]

Further the executor will likely call an estate sale company to sell off physical belongings. Now of course one way to handle the whole issue is to hire thrust department of a bank to take care of everything.My grandparent had such a trust and the even managed to find a good assisted living place for my grandmother. Selling the house meant for my parents just removing belongings they wanted. IMHO pick a local small bank because they will have local connections a big bank wont have since there the trustee may be located a long distance away.

Hi and thank you meierlde! It'd be a good idea if I had a house or a condominium with lots of furniture and other stuff, but I live in a studio apartment rental and the furniture doesn't amount to much, lol! I'm sure my executor will think of something. But thanks again.

 

[Rosedala]

No problem. A few points in order of importance:

1. @cathy63 definitely has the clearest answer yet and is probably right on this. She is basically telling you to sit down and shut up, which may be fine but may not satisfy you. Your call.

2. Asking some guy on the internet (SGOTI) and DIY research is not really a good idea when dealing with something this important.

3. You have an attorney who has given you an estate plan that you don't understand and who blows you off when you have questions. That's two strikes in a game where my rule is: One strike and you're out.

4. I probably contributed to your confusion when I referred to multi-year trusts because that's what we have in our estate plan. I apologize. Your "LRTrust" is probably what in the trade is called a rev trust, for revocable. At death, the rev trust becomes an irrev trust (irrevocable -- you are dead) and at that point its assets are handled according to its terms. If it says that all assets are to be immediately distributed then that is what your executor (who is technically also the trustee at this point) will do. (I have verified this with my nearest certified trusts & estates expert, who was sitting on the couch next to me at the time.)

OldShooter my good friend, you have the most delicious sense of humor while at the same time saying a lot of sense! Yes, Cathy did sort out for me my issue with my estate lawyer, and yes her lesson satisfied me thoroughly. But you too, and the others in this thread tried so much to help me and I’m so grateful to all because at the same time I learned a lot from you all.

You didn’t contribute to my confusion, you made me think more and this is a good thing. With your new explanation I see everything clearly and am satisfied that nobody will be “monkeying around” with my savings when I’m gone, lol! Thanks so much for reminding me as I had forgotten to have read that a revocable trust becomes automatically irrevocable at death and that my present successor trustee lawyer becomes the executor and trustee, in my case anyway.

I promise to all I’ll never again be disturbing this thread because it has already given me the fruits I expected. THANK YOU ALL AGAIN AND AGAIN and if someone please let me know where I can post a little donation to this forum, I’ll be happy to do it and please can someone close this thread?

 

[PoorOldCountryBoy]

[Not sure if I'm in the right thread, but....]

Hello, I think I made a mistake in hiring an "estate" lawyer about 2 years ago or so since he only has 25% experience in estates. His principal subjects are immigration and another one I can't recall now. Do you all think this is sufficient experience? Although I've been reading a lot on the subject, I'm sure that, as a layperson, I need to be asked (and told) a lot of questions about my estate planning.

I've been getting dizzy debating within myself whether or not go and hire a lawyer totally dedicated to estates. I'm alone and have a very simple estate, yet I don't want to do it myself, I need an experienced lawyer despite the fact this would be the 3rd time I'm paying for the same thing. For many years I had a good estate lawyer but she retired. That's when I hired the present 25% estate lawyer.

Thanks ever so much for your opinions.

Best thing to do is read up on the subject then decide more. "Estate planning for dummies" etc books can help get you up to speed.

I'm sort of surprised that you need to do this a third time? Didn't the first lawyer handle things or is this a major life change driving things?

And there are ratings for lawyers, you can get an "A" rated lawyer...forgot the publication but it is internal to the law.

 

[Rosedala]

Best thing to do is read up on the subject then decide more. "Estate planning for dummies" etc books can help get you up to speed.

I'm sort of surprised that you need to do this a third time? Didn't the first lawyer handle things or is this a major life change driving things?

And there are ratings for lawyers, you can get an "A" rated lawyer...forgot the publication but it is internal to the law.

PoorOldCountryBoy...I guess you didn't read ALL answers and counter answers as your post repeats things already dealt with. I'm satisfied with several answers here. Thank you.