Fraud by Omission.
It’s NOT your fault, your attorney or current Financial Advisor didn’t make this crystal clear to you and your attorney engaged in fraud by omission.
If you do not understand the Last Will & Testament that you bought from your attorney or LegalZoom.com for $69 will end up costing your adult children heirs about $7,000, (average $200,000 Estate), in Probate Attorney Fees and Court costs, then you simply don’t understand the document you signed.
Dirty little attorney secret: It’s once the individual or both spouses are deceased that triggers the expensive Probate Court System and ties up the home and other assets needlessly in the legal system.
Let me explain how your home and other assets get tied up in the Probate Court System.
When you bought your home the title company or attorney deeded the property as:
Mr. Homeowner and Mrs. Homeowner, his wife.
That’s “Tenants by the Entirety” very common with Husband and Wife.
What happens with the house when, let’s say, the Husband dies?
Nothing. His joint tenancy died with him and now, Mrs. Homeowner, owns the house in her own individual name.
What happens when Mrs. Homeowner dies? The second spouse to die. A new legal theory entity known as “The Estate of Mrs. Homeowner” owns the home. Now the home HAS to take a complicated and expensive trip through the Probate Court System before the adult children heirs get title to the home.
Please understand this fact: Once an individual dies with titled assets in their own name, (real property, bank accounts, stocks, bonds, mutual funds) those assets HAVE to take a complicated and expensive trip through the Probate Court System.
If you don’t understand that a Last Will and Testament guarantees your Estate will go through Probate, then you simply don’t understand the legal use of that document.
One spouse will absolutely predecease the other and once both spouses are deceased, BINGO, welcome to the Probate Court System.
There are simple methods to avoid this but the methods must be implemented BEFORE the crisis happens.
Please understand it is your adult children heirs who will have to suffer through and pay the attorney fees and court costs to probate your Estate.
What does our flat rate Estate Planning fee include?
1) Revocable Trust,
2) Pour Over Last Will and Testament,
3) Durable Power of Attorney,
4) Healthcare Surrogate,
5) Living Will,
6) Complete Trust Funding,
7) One (1) Trustee Deed,
8) Fixed or Indexed Annuity, if applicable,
9) Life Insurance, if applicable.
10) Two (2) advisors for the price of one (1)
a. Florida attorney;
b. Financial Consultant.