News & Commentary There is an endless amount of information on the subject of money. From fulltime cable television stations to books and websites, there is simply far more than anyone can hope to digest. Included of course is the subject of estate planning: It’s never ending But there is something missing…what will it cost to settle my estate and will it cost less if my assets are held in trust? These are important questions that you should to ask. After all, you are the client and your attorney, CPA and personal representative or trustee work for you and your family.
If your estate plan is current, it is perfectly fine to ask your attorney for a written estimate of their estate settlement charges based on the size of your estate or trust. If you are interviewing attorneys to prepare your plan, we suggest you ask at the outset, what are your charges to prepare my estate plan and then, what are your charges to settle my estate? In most cases, your attorney will refer to the fee schedule outlined in the Florida statutes. That statute tells us what an attorney can charge by law but by no means does it mean they must charge that amount. It is absolutely fine and we encourage you to negotiate the best fee you can and do not hesitate to get it in writing. After all, you are asking the attorney for their guidance in minimizing the costs of settling your estate.
We feel strongly enough about this to make it a permanent part of our website. Investors' Security Trust Company’s role is to help you and your family minimize the total cost of estate settlement. Please see our website for Investors' Security Trust Company’s current and all inclusive fee schedule and please let us know if you have any questions.
NEXT TIME…2008 YEAR END GIFTING TO FAMILY MEMBERS AND THE ADVANTAGES OF 2009 FAMILY GIFTING IN JANUARY.
September 11, 2008
Chris A. Gair
Executive Vice President
Senior Trust Officer
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