We are considering estate planning and planning to meet & interview attorney. Early 50s and still under estate-tax limit for now. It seems, with conservative growth estimate, that we have the potential of exceeding the estate-tax limit well within our lifetime. Coupled with upcoming sunset provision of resetting estate tax limit, it makes us wonder how to consider planning/executing estate planning aspects.
Our 2 children, while reasonably young(HS and Univ), seem responsible and grounded financially. We would like to make them as beneficiary for such an individual estate trust.
1. What is the general cost of of such a thing?
2. What are the general parameters of planning aspects to consider?
3. We are very frugal and have no inclination to expand our lifestyle. Even 1/2 of the estate tax limit worth of NW is probably more than enough.
4. We wish to have a plain-vanilla estate planning trusts(or something typical - if that's a thing) - no fancy needs or bells or whistles.
Our 2 children, while reasonably young(HS and Univ), seem responsible and grounded financially. We would like to make them as beneficiary for such an individual estate trust.
1. What is the general cost of of such a thing?
2. What are the general parameters of planning aspects to consider?
3. We are very frugal and have no inclination to expand our lifestyle. Even 1/2 of the estate tax limit worth of NW is probably more than enough.
4. We wish to have a plain-vanilla estate planning trusts(or something typical - if that's a thing) - no fancy needs or bells or whistles.
Statistics: Posted by greekvacay — Sun Sep 01, 2024 1:27 pm — Replies 1 — Views 84