The second step in Estate Planning is to make sure that when you pass away that your estate will avoid probate completely. Probating your Estate could cost your heirs thousands of dollars. We will guide you through a simple process that will allow you to directly name beneficiaries of your home, land, bank accounts, brokerage accounts, life insurance, and IRA’s.
Having answers in the affirmative to the following questions is essential to a well executed estate plan.
Do you have a beneficiary deed for your Real Property?
Are your bank accounts set-up "Payable on Death"?
Do your brokerage accounts have "Transfer on Death" provisions?
ave you named both Primary and Contingent Beneficiaries on your IRA/401k’s and Life Insurances?
We will show you exactly how to perform these vital Estate Planning steps, and avoid the nightmares of probate.
Consider these statistics:
8% of every dollar is lost to probate expenses.
33% of every dollar is lost to taxes.
59% of every dollar will go to your heirs if they are lucky.
$123,000 is lost to probate and taxes on a $300,000 Estate.
$205,000 is lost to probate and taxes on a $500,000 Estate.
$410,000 is lost to probate and taxes on a $1,000,000 Estate.
$2,000,000 is the Estate Tax exemption for 2007 and 2008.
$3,500,000 is the Estate Tax exemption for 2009.
$3500 is the average cost for an Attorney to setup a Revocable Living Trust.
$1200 is the average cost for us to set-up Revocable Living Trust.
$900 is the average cost for us to set-up your Estate correctly.
There is a 10% chance you need a Revocable Living Trust.
There is a 20% chance you have done Proper Estate Planning.
There is a 100% chance you will die.
$11 is the cost to file a Beneficiary Deed.
There is "0" cost to setup Financial Accounts with Beneficiaries.
