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Home >> Three Tips For Reducing After-Death Legal Fees

Three Tips For Reducing After-Death Legal Fees

December 31, 2010 by Robert Kulas. Leave a Comment

Even in death, it’s hard to escape certain expenses. For example, there are final bills and debts, funeral and burial costs, and maybe even taxes – and then there’s the cost of settling your estate. Believe it or not, there are steps you can take now that will help reduce the legal fees that come with finalizing your affairs after you’re gone. Here are three tips:

1. Attack Debt: We all know that debt can plague us during our lifetimes. But, it can also make things more complicated – not to mention expensive – for your loved ones after you’ve passed away. Of course, the best way to avoid the hassles associated with debt is to pay it all off as soon as possible, and pass away not owing a dime. For many people, though, this just isn’t realistic. So, what’s the next best thing? Have a plan for reducing debt as much as possible now, but also make a plan to simplify the process for dealing with your remaining debt when you pass away. For example, work with your attorney to ensure that there’s enough liquidity in your estate to take care of your final bills.

2. Plan Carefully: The most important thing you can do to reduce the costs associated with settling your estate is to establish an estate plan, and make sure that it’s effective. Without a plan, your family is likely to spend extra money on probate, taxes, and even litigation over your estate.

Well-drafted and properly signed documents are the first step in making an effective plan, but you also need to make sure your estate plan is kept up-to-date. Establishing a relationship with an experienced estate planning attorney can help make sure you have a plan that works when the time comes.

3. Consider a Living Trust: A well-drafted and properly funded living trust can help avoid probate, which is often a costly process. And, properly worded, it can even minimize estate taxes. Whether or not this is the appropriate option for you depends on a number of factors, but often, the cost of establishing and maintaining a living trust is far outweighed by the savings provided to your loved ones after your death.

Filed Under: Estate Planning, Probate Tagged With: Estate Planning

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Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family.

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"Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family."

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Janice M
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

default image
Krissy L.
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

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Leo C.
Client Review
August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

default image
Mildred W.
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

default image
Joan C.
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

default image
L.G.K.
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