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EVERYBODY OVER THE AGE OF 18 NEEDS SOME ESTATE PLANNING
Everyone needs a:
Will
Durable Power of Attorney
Advance Health Care Directive
MORE COMPLEX SITUATIONS REQUIRE A TRUST
The following charts will
help you to determine 1) if you need Estate Planning, 2) if your needs are
simple or complex, and 3) what kind of estate planning is right for you.
Please answer the questions honestly and contact the Law Office of Derryl H.
Molina if you want some assistance with your Estate Planning needs.
Table 1 PLANNING
Yes _____ No _____ Do you have a will?
Yes _____ No _____ Does your spouse have a
will?
Yes _____ No _____ Do you have minor
children? Does your will name a guardian for the children?
Yes _____ No _____ Do your assets, including
house and personal property, over $100,000?
Yes _____ No _____ Do you have a Living
Trust?
Yes _____ No _____ Does the trust name three
levels of successor trustees?
Yes _____ No _____ Does the trust name three
levels of beneficiaries?
Yes _____ No _____ Do you have a document
naming someone to take care of your affairs if You become disabled?
Yes _____ No _____ Do you have a current
Advance Health Care Directive?
Yes _____ No _____ Have you considered who
you want to make health care decisions foryou if you cannot?
Yes _____ No _____ Does your will or trust
specify how death taxes will be paid?
Yes _____ No _____ Do you want to make any
gifts to charities after your death? Have you included these gifts in
your estate planning documents?
Yes _____ No _____ Do your planning documents
set forth clearly how your personal property will be distributed?
Yes _____ No _____ Do your planning documents
set forth care provisions for your pets?
Yes _____ No _____ After you signed your
planning documents, did you amend or replace them whenever you changed
your mind about any provisions?
Table 2 MAINTENANCE/REVISION
Yes _____ No _____ Has the value of your
assets changed substantially since you signed your planning documents?
Yes _____ No _____ Have you changed the kind
of assets you own since you signed your estate planning documents?
Yes _____ No _____ Has your marital status
changed since your estate planning documents were signed?
Yes _____ No _____ Have you had children
since your estate planning documents were signed?
Yes _____ No _____ Have your children had
children?
Yes _____ No _____ Have any of your children
been married, divorced or died since your planning documents were
signed?
Yes _____ No _____ Have you, your spouse, or
child become physically or mentally incapacitated since your planning
documentss were signed?
Yes _____ No _____ Have you bought, sold, or
refinanced a piece of property since your planning documents were
signed?
Yes _____ No _____ Are you contemplating
selling stock or other valuable assets with a low cost basis?
Yes _____ No _____ Have you changed your
residence to another state since your planning documents werre signed?
Yes _____ No _____ If you have a Living Trust
or a Durable Power of Attorney, does it empower the trstee to sell, buy,
or transfer property upon u
your incapacity to protect it from Medi-Cal recovery?
COMPARATIVE COSTS
ESTATE
PLANNING VS. LACK OF ESTATE PLANNING
(Disclaimer: The numbers on this chart are estimates only, and are subject to
change without notice.)
Per person
10 - 15 % +
Living Trust
No comp. -
.05%
2007-2010..55%
$500,000
$50K-75K
$485
$2500
None $2500
None
$800,000
$80 K-
120K
$635
$2500
None $4000
None None
$1,000,000
$100K-150K
$1135
$2500
None $5000
None None
$2,000,000
$200 K-300K
$2635
$2500 $5000
None $10,000
None
$5,000,000
$500K-750K
$3635+.02% of value over $3.5M
$2500 $5000
None $25,000
None
None
$1,000,000
$3635+.02% of value over $3.5M
$2500 $5000
None $50,000
None
$20,000,000
$2,000,000
$3635+.02% of value over $3.5M
$2500 $5K+$5K
None$100,000
$4,275,000 The information on this website
is for educational purposes only and should not be considered legal advice or an
attorney-client relationship. For clarification of any material of this website
or to seek help on your particular issue, feel free to contact The
Law Office of Derryl H. Molina at (408) 244-4992 or email Derryl H.
Molina at attderryl@comcast.net
ESTATE SIZE
COST OF PROBATE
FILING FEES
COST OF TRUST
COST OF TRUSTEE
ESTATE TAXES