He was recently diagnosed with cancer and wanted to get his affairs in order. He wanted a will. “I don’t have much; I just need a will.” We talked. He has a house and a car, and less than $100,000 in savings. Not much, but with houses selling for over $1 million, the probate of that will could easily cost his family more than $46,000! I explained that to him, and then we put together a living trust to avoid probate.
I like probates and the statutory fees ($23,000 for a million-dollar probate), but families don’t like the time or money that a probate takes. If you want to avoid probate, give me a call.
