Draft a will with legalzoom or other online legal help

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Re: Draft a will with legalzoom or other online legal help

Post by bsteiner » Fri Aug 10, 2018 11:25 am

Amy2017 wrote:
Fri Aug 10, 2018 10:19 am
I went to the group workshop given by another attorney yesterday. ...

One of the topics she emphasized a lot is Medicaid Planning for nursing home payment. ... She also mentioned the importance of LTC insurance, which we don’t carry at this time and are not sure whether we should buy one. ... At the end of workshop, we were given an evaluation paper. One of the questions is how much is your net worth? I am surprised that the highest bracket you could choose is $900K. So I assume this attorney has more experience with smaller assets. The attorney only lists the price of her estate planning maintenance program....
Her focus on Medicaid probably made sense if she deals with people of modest means. They're usually more concerned about Medicaid than estate planning.

I'm not aware of any long-term care insurance. Most of what's called long-term care insurance is short-term care insurance, covering the first few years. I think a policy that covers expenses for life, but not for the first few years, would make more sense.

I don't like the idea of estate maintenance programs. Most people don't need to review their planning every year. Those who do are worth far more than $900,000.

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Re: Draft a will with legalzoom or other online legal help

Post by Dulocracy » Mon Aug 13, 2018 1:15 pm

Yankuba wrote:
Sun Nov 12, 2017 5:10 pm
. I was only charged $1500 for the the real estate closings which I imagine require more hours of labor than plugging a few names into a document
This great misconception shows exactly why in your situation it would be best to get an attorney to draft the documents. Not to be critical, but this shows a great lack of understanding of the bredth of work encompassed in estate planning. Unfortunately, that means you will likely not understand the issues well enough to know which issues need addressing or even that there are issues there.
I'm not a financial professional. Post is info only & not legal advice. No attorney-client relationship exists with reader. Scrutinize my ideas as if you spoke with a guy at a bar. I may be wrong.

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