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Has anyone created a Trust using Rocket Lawyer?

1,448 Views | 11 Replies | Last: 3 mo ago by Kansas Kid
infinity ag
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Here's the website.
https://www.rocketlawyer.com/

My friend has used it. Cheaper than hiring a lawyer at $260/hr.

Don't know much else, hoping for opinions.
TexAg1822
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AG
I think it depends on how complex the trust is. If it's pretty straightforward I'd bet it would suffice but I'm not sure how accessible an actual person is to ask questions with (or if you have to pay more to talk to a random attorney online). From what I've seen these sites just have the basic template and it can be difficult to understand the intricacies if there is no one to ask.

Some firms are expensive but if it's a complex trust I prefer the route of speaking with an actual individual in person who has knowledge of TX law versus a random online service.

Not sure where you're located but some firms offer a total price for an estate planning package so maybe do a little more digging if you'd prefer that route and it could be cheaper vs an hourly fee
MAS444
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AG
I'd strongly advise against it. You get what you pay for. It's a simple trust, it shouldn't cost much to have a lawyer do it. If it's more complex...all the more reason to consult with an experienced, qualified lawyer.
Jabin
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Two broad questions always exist re trusts:

1. Is a trust best for what you're trying to do or is there a better, simpler, or less expensive solution?
2. If a trust is best, what kind of trust and what components does it need? Trusts can get very, very complicated very quickly.

I'm a lawyer and wouldn't even consider drafting my own trusts unless it is clear that it is necessary and that the needed trust is only the most basic, simple trust.

My guess is that most lawyers who specialize in trusts (estate planning or perhaps tax lawyers) would probably do it for a flat fee. Also, their initial discussion with you shouldn't cost anything. My strong recommendation is to reach out to a lawyer who specializes in trusts.
ac04
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not something i would recommend at all
Red Pear Realty
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Sponsor
AG
It's ok to hire real life professionals for their expertise.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
CC09LawAg
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What do you do for a living?

Then ask yourself what level of confidence you would have if services were advertised to offer your same service at 10% of the price on the internet.
SW AG80
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AG
Jabin said:

Two broad questions always exist re trusts:

1. Is a trust best for what you're trying to do or is there a better, simpler, or less expensive solution?
2. If a trust is best, what kind of trust and what components does it need? Trusts can get very, very complicated very quickly.

I'm a lawyer and wouldn't even consider drafting my own trusts unless it is clear that it is necessary and that the needed trust is only the most basic, simple trust.

My guess is that most lawyers who specialize in trusts (estate planning or perhaps tax lawyers) would probably do it for a flat fee. Also, their initial discussion with you shouldn't cost anything. My strong recommendation is to reach out to a lawyer who specializes in trusts.
This X a 1000.

I am a lawyer also and would never try to create a trust, even for myself. Too many different legal considerations (depending on the kind of trust) and tax implications. OP could have a relatively simple situation that could be made much more problematic by creating a trust (when one is not needed) or, if needed, could create the wrong kind of trust that would greatly complicate matters down the road.
one safe place
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A lot of good advice already, particularly:

1.. Be sure a trust is the best solution to what you are trying to accomplish
2. Hire a lawyer. You can inquire about fees from the initial call or office conference (some won't even charge you for the initial meeting).

I am not a lawyer but some big mistakes can happen when trying to do things without their input.
MAS444
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AG
Not an expert by any means but I also feel like lots of people want trusts when not really needed. The above advice is very good to make sure you really need one and understand the plus and minuses.
OldArmyCT
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AG
First you need to determine why you want a trust then what type of trust then what assets do you want included in the trust and after all of that decide if it's really going to help your situation. Trusts can be life altering, don't F it up.
As they teach prospective lawyers in law school, you can give yourself a haircut too
Kansas Kid
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If the trust is for you and it is screwed up, at least you won't have to deal with the consequences (unless it is accidentally set up as an irrevocable trust instead of a grantor trust). Your family will thank you profusely for saving a few bucks while you were aliveā€¦..

If you have an estate that needs a trust, I would use a professional. I am not a lawyer but I have had to be the trustee settling up 4 estates and the quality of the upfront work made a massive difference in the issues I had to deal with.
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