Many thanks to both of you for volunteering. The plan/schedule sounds quite workable to me.
Mr. Prairie and I have had a trying day. My In-laws have put off estate planning to practically any degree, here they are in their 80’s without even a will. They thought some papers they’d signed throughout the years were sufficient. They aren’t.
We’ve been to the lawyers office with them and found out $800 will be the fee to fix up even a simple trust for their small (very small actually) estate. And that amount is huge to their monthly fixed income with living expenses rising all the time.
Estate planning is never easy but this has been extra hard today on us. The lawyer might as well have been speaking Russian to my Father in law. M-I-L does understand the reasons to try to avoid probate.
sigh...
Hi prairie - regarding your in=laws estate planning - if you’ve been to a lawyer you probably already know this, but our financial planner pointed out to us within the past year that there is a new provision to the law that allows you to add beneficiaries to your IRA’s (in our case our sons) that avoids probate and estate taxes for them upon your death.
(doing my part to get this thread to 100 today)