Tuesday, December 29, 2009
HAPPY NEW YEAR
WISHING ALL OF YOU A HAPPY NEW YEAR FOR 2010.
2009 was a great year for me with the creation of my new blogs, "Trusts and Estates" and "Fideicomisos y Testamentos", and my new YouTube channel "Family Trusts and Estates".....
DWIGHT EDWARD TOMPKINS, Attorney at Law
Monday, December 21, 2009
Wednesday, December 16, 2009
WHY USE AN ATTORNEY VS. AN ONLINE SITE TO CREATE AN ESTATE PLAN
The main reason to work with an qualified estate planning attorney to create an estate plan rather than go online and download a form is ADVICE & RELATIONSHIP.
Online websites which sell living trusts offer NO advice on the development of a comprehensive estate plan. In fact, all of the websites selling legal documents state clearly that the use of the site does not include legal advice, and if you need legal advice, you need to talk to a lawyer.
There is so much more to an estate plan than taking a boiler-plate document and filling in the blanks. And good luck when you have a question later on, or you need to amend your estate plan.
Which leads me to the second part of the answer above: relationship! Having a relationship with a good estate planning attorney gives you a live person to call when you have questions, and when life circumstances change, and you need to amend the trust and estate plan, online sites just fail in that regard.
Most people who use online legal websites are just trying to avoid paying attorney's fees. But, those sites are really not very cost effective compared to the average fees charged to create an estate plan.
When you look at one of the most popular legal websites, by the time you pay the base fee, the additional fees, and then you have to take the documents to a Notary Public (in California, 5 documents X 2 people X $10 = an additional $100), you may have saved $200-$300 dollars.
I spend on average 1-2 hours with clients on the initial consultation, and an additonal 1-2 hours during the signing in which I explain the documents in detail.
You may save $200 by going online, but you don't get 2-4 hours of face-to-face advice and counseling from a qualified lawyer.
And good luck if you make a mistake online, push the wrong key, and end up with a document that doesn't work.
Remember that a computer program will not answer your calls when you have a future problem or you need to make changes to your estate plan.
More information about trusts and estates can be found on my website:
http://www.tompkins-law.com/
DWIGHT EDWARD TOMPKINS
Attorney at Law
This blog is intended for informational purposes only and does not constitute legal advice from a qualified estate planning attorney in your jurisdiction.
Saturday, December 5, 2009
WHY THE 1ST OF YEAR IS A GOOD TIME TO CREATE YOUR ESTATE PLAN
WHY THE 1ST OF THE YEAR IS A GOOD TIME TO CREATE YOUR ESTATE PLAN
One of the key parts to the creation of an estate plan is pulling together an asset list. In January, most people will receive "end of the year" statements, which are critical for preparing tax returns for the year.
These end of the year statements can easily be put into a folder and taken to the initial meeting with the estate planning attorney. The attorney at a glance can see the (1) the title ownership of the accounts, (2) the character of the account [i.e., retirement, investment, etc.], and the value of the account.
The value of the account is important for the attorney to determine the relative size of the estate when considering whether the estate will likely be subject to any federal estate tax impacts.
The 1st of the new year is a good time to meet with the estate planning attorney as a matter of finally following through with all those "New Year's Resolutions" that this is the year we set up our trust.
So don't wait another year, make 2010 the year to set up your family trust estate plan and enjoy the peace of mind of knowing your family is protected, and that your planning is complete.
For more information on family trusts, estate planning, wills, powers of attorney, retirement and other topics please visit my website:
http://www.tompkins-law.com
If you reside anywhere in California, and in particular, the quad-county area [Los Angeles, Orange, Riverside, San Bernardino], my office is freeway close, and I would enjoy the opportunity to help you protect your family with a Family Trust.
DWIGHT EDWARD TOMPKINS, Attorney at Law
This blog is intended for information purposes only and is not intended as a substitute for legal advice from a qualified estate planning attorney in your jurisdiction.
One of the key parts to the creation of an estate plan is pulling together an asset list. In January, most people will receive "end of the year" statements, which are critical for preparing tax returns for the year.
These end of the year statements can easily be put into a folder and taken to the initial meeting with the estate planning attorney. The attorney at a glance can see the (1) the title ownership of the accounts, (2) the character of the account [i.e., retirement, investment, etc.], and the value of the account.
The value of the account is important for the attorney to determine the relative size of the estate when considering whether the estate will likely be subject to any federal estate tax impacts.
The 1st of the new year is a good time to meet with the estate planning attorney as a matter of finally following through with all those "New Year's Resolutions" that this is the year we set up our trust.
So don't wait another year, make 2010 the year to set up your family trust estate plan and enjoy the peace of mind of knowing your family is protected, and that your planning is complete.
For more information on family trusts, estate planning, wills, powers of attorney, retirement and other topics please visit my website:
http://www.tompkins-law.com
If you reside anywhere in California, and in particular, the quad-county area [Los Angeles, Orange, Riverside, San Bernardino], my office is freeway close, and I would enjoy the opportunity to help you protect your family with a Family Trust.
DWIGHT EDWARD TOMPKINS, Attorney at Law
This blog is intended for information purposes only and is not intended as a substitute for legal advice from a qualified estate planning attorney in your jurisdiction.
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