Thursday, October 16, 2008

Our living trust

It looks like a nice, padded 3-ring binder, the kind that you'd pay $5 for at your local Office Depot but it's a lot more than that.


Open it up and you see that it is a complete package containing our brand new living trust (which is a restatement of one we did exactly 8 years ago), a new will, a durable power of attorney and advance health care directive, and a durable power of attorney for financial management for each of us. Everything is neatly organized behind the proper tab and there are even instruction about what to do and when - such as extra copies of our advance health care directive so that our physicians and hospital can have them on file as well as those we've chosen to "look over" our care. Of course the law firm of Drobny Law Office, Inc. always stands ready to help.

In fact, we don't even have the original documents so we lose nothing if the house burns down or some zealous lawyer steals our binder. The original is in a fireproof safe in the attorney's office. The attorney also promised to send a letter each year asking us if certain things have happened that would affect the trust. If we call him, he'll make the changes necessary - free. If we don't call him, he'll call us. And the changes will still be free. Heck of a deal!

It was interesting to see that our previous living trust was signed on October 13 exactly the same day that we signed this one. Maybe we get anxious about such things every 8 years or so much has happened to us these past 8 years that we just had to do it. But this time was handled so much better than the experience 8 years ago. It was like night and day. I think we got the one 8 years ago in a charity auction and the guy treated us like he couldn't wait to get us out of his office. This time we got the feeling like he would spend as much time as we needed but we didn't take any more time than the last time.

4 comments:

  1. If he was charging you lawyer's rates by the hour then I'm not surprised he offered you as much time as you needed. If it was a fixed total rate, then I'm quite impressed.

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  2. He has a flat rate which he cut in half because we already had a living trust in place. Our previous lawyer was also working on a flat rate and he made it obvious that he was short on time.

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  3. Did you change who the Executor the backup are? Or are they still the same?

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  4. Since you are so pleased, may I consider this a recommendation? Randy and I have talked about getting a living trust for years, but....

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