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Estate Planning Attorney

2,202 Views | 19 Replies | Last: 2 mo ago by OldArmyCT
HoustonAg926
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Howdy,

I am looking for an attorney that can draft a simple will for my family. I am relatively young with small assets but they are growing. However, I am married, one kid and one on the way so I figure it is time to paper some things up. I've reached out to a few but they are wanting to charge multiple thousand dollar retainers. I don't think I will require much planning currently. I have mortgage, investment assets, 2 vehicles and life policies that will handle future expenses. I'm not sure that I need a trust or anything. Maybe I do? Essentially, I want a plan that handles my unexpected passing, my wife's unexpected passing and both.

Since, my situation is not complex; is this something I can do online myself or should I consult with an attorney.


Thanks
mosdefn14
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A couple thousand is what I typically see a basic couples package costing these days. If you can add a legal plan through your work benefits (dollars per month) those will typically cover a basic estate planning package.
Milwaukees Best Light
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You in Houston, or that just a clever handle?
donkeykick90
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HoustonAg926 said:

Howdy,

I am looking for an attorney that can draft a simple will for my family. I am relatively young with small assets but they are growing. However, I am married, one kid and one on the way so I figure it is time to paper some things up. I've reached out to a few but they are wanting to charge multiple thousand dollar retainers. I don't think I will require much planning currently. I have mortgage, investment assets, 2 vehicles and life policies that will handle future expenses. I'm not sure that I need a trust or anything. Maybe I do? Essentially, I want a plan that handles my unexpected passing, my wife's unexpected passing and both.

Since, my situation is not complex; is this something I can do online myself or should I consult with an attorney.


Thanks
I'd recommend. He's an ag, he recently did our trust set up. Very thorough and takes time to explain all the legalese

joshua@duneganlawfirm.com
Clear Eyes. Full Heart. Might Lose
sushi94
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If you are in Houston we used Tonya Knauth in the Heights.
12thMan9
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HoustonAg926 said:

Howdy,

I am looking for an attorney that can draft a simple will for my family. I am relatively young with small assets but they are growing. However, I am married, one kid and one on the way so I figure it is time to paper some things up. I've reached out to a few but they are wanting to charge multiple thousand dollar retainers. I don't think I will require much planning currently. I have mortgage, investment assets, 2 vehicles and life policies that will handle future expenses. I'm not sure that I need a trust or anything. Maybe I do? Essentially, I want a plan that handles my unexpected passing, my wife's unexpected passing and both.

Since, my situation is not complex; is this something I can do online myself or should I consult with an attorney.


Thanks
Term life for you & wife. Write your will out on a piece of paper, date it, sign it, put in safe. Give copy to who you would want to help your wife if you go 1st.
Ronnie '88
SW AG80
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12thMan9 said:

HoustonAg926 said:

Howdy,

I am looking for an attorney that can draft a simple will for my family. I am relatively young with small assets but they are growing. However, I am married, one kid and one on the way so I figure it is time to paper some things up. I've reached out to a few but they are wanting to charge multiple thousand dollar retainers. I don't think I will require much planning currently. I have mortgage, investment assets, 2 vehicles and life policies that will handle future expenses. I'm not sure that I need a trust or anything. Maybe I do? Essentially, I want a plan that handles my unexpected passing, my wife's unexpected passing and both.

Since, my situation is not complex; is this something I can do online myself or should I consult with an attorney.


Thanks
Term life for you & wife. Write your will out on a piece of paper, date it, sign it, put in safe. Give copy to who you would want to help your wife if you go 1st.
Bad advice.

Once you have kid(s) things get more complicated. If you and your wife die at the same time, who will raise your children. If this occurs your assets should be put in a trust so they can be used to raise and, maybe, educate your children. Does the couple who will raise your children have a big enough house to take in your children while also raise their own growing family? May need to allot some of your assets to be used by the guardians of your children to get a bigger house so your kids don't sleep in a living for the net 18 years.

Things like this you need to resolve with the people who will take care of your children if you and your wife both die. Then go see an attorney.

I have been retired for several years but I would not think what I am suggesting is very expensive. Maybe around $1,000 or so. Maybe less if you are in rural Texas.
pocketrockets06
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Wright Abshire in Houston was really good for us
12thMan9
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SW AG80 said:

12thMan9 said:

HoustonAg926 said:

Howdy,

I am looking for an attorney that can draft a simple will for my family. I am relatively young with small assets but they are growing. However, I am married, one kid and one on the way so I figure it is time to paper some things up. I've reached out to a few but they are wanting to charge multiple thousand dollar retainers. I don't think I will require much planning currently. I have mortgage, investment assets, 2 vehicles and life policies that will handle future expenses. I'm not sure that I need a trust or anything. Maybe I do? Essentially, I want a plan that handles my unexpected passing, my wife's unexpected passing and both.

Since, my situation is not complex; is this something I can do online myself or should I consult with an attorney.


Thanks
Term life for you & wife. Write your will out on a piece of paper, date it, sign it, put in safe. Give copy to who you would want to help your wife if you go 1st.
Bad advice.

Once you have kid(s) things get more complicated. If you and your wife die at the same time, who will raise your children. If this occurs your assets should be put in a trust so they can be used to raise and, maybe, educate your children. Does the couple who will raise your children have a big enough house to take in your children while also raise their own growing family? May need to allot some of your assets to be used by the guardians of your children to get a bigger house so your kids don't sleep in a living for the net 18 years.

Things like this you need to resolve with the people who will take care of your children if you and your wife both die. Then go see an attorney.


Economically sound advice. Everything you mentioned is in the will & clear.

My dad's best friend did my parents will & told me to do it the same way. Everyone knows how it goes.
Ronnie '88
Stive
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12thMan9 said:

HoustonAg926 said:

Howdy,

I am looking for an attorney that can draft a simple will for my family. I am relatively young with small assets but they are growing. However, I am married, one kid and one on the way so I figure it is time to paper some things up. I've reached out to a few but they are wanting to charge multiple thousand dollar retainers. I don't think I will require much planning currently. I have mortgage, investment assets, 2 vehicles and life policies that will handle future expenses. I'm not sure that I need a trust or anything. Maybe I do? Essentially, I want a plan that handles my unexpected passing, my wife's unexpected passing and both.

Since, my situation is not complex; is this something I can do online myself or should I consult with an attorney.


Thanks
Term life for you & wife. Write your will out on a piece of paper, date it, sign it, put in safe. Give copy to who you would want to help your wife if you go 1st.

What year is this? 1891?
ThenamesAg
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I'm going through a similar process right now (married, one kid). I've spoken to two estate attorneys in the Austin area and going rates seems to be between $5500-$6500 for trust, pour-over will and end-of-life/power of attorney type docs.
SW AG80
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Sounds really high to me. Check with some attorneys in College Station. Drive could save you couple of thousand dollars.
RK
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sushi94 said:

If you are in Houston we used Tonya Knauth in the Heights.
she is currently drawing up our docs. came recommended by several folks. painless so far.
AgsMyDude
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Piggybacking as my wife and I need to set one up

Any recommendations in the San Antonio area?
SW AG80
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Try James Woo. It is board certified which means he will cost more and that might not be needed if your is simple.
HoustonAg926
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Thank you all. I found an attorney locally in my neighborhood who charges $1,200 for couples will and trusts for children.
gougler08
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HoustonAg926 said:

Thank you all. I found an attorney locally in my neighborhood who charges $1,200 for couples will and trusts for children.
Do you have that contact info (assuming you've been happy)? This is something my wife and I have been kicking around and I'd like to get it done this year
TamuLou
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I have had good luck with Cole at https://www.texasfamilywills.com/

I had a somewhat interesting situation having a disabled kiddo so he talked through the different options and the pros and cons of each. Overall - great interaction and I thought his fees were very reasonable.

Bonus - I call him a converted Aggie. He did his undergrad at that school in Austin, but then saw the way that of his mistakes and went to Texas A&M law School.
Aggie09Derek
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Amy Koontz did ours - an Aggie and did everything via Zoom/email

https://www.mnjslaw.com/our-team/amy-r-koontz/

akoontz@mnjslaw.com

OldArmyCT
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I honestly cannot think of a single reason someone in your situation would need a trust. Draft a will with the help of an estate attorney and ensure your accounts, all of them, have beneficiaries and successor beneficiaries. Right now unless I'm missing something should you both go tomorrow the biggest asset for your kids is your insurance. If you don't trust them to use that money correctly you need new people. You can even structure your will to have your kids insurance settlements placed into 529 Plans.
Family wills should top out at $2000. Most trusts will start at that price.
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