It might be for the simplest estates without many assets. Unfortunately, even a simple will is still subject to the expense and delays of probate. It’s not the complexity of the document itself that causes the time and expense, it’s the probate process itself. For this reason, most of my clients choose to create a living trust instead of a will, which is designed for simplicity and to avoid the probate process completely.

However, as part of an overall, comprehensive estate plan, a special “pour-over” will is used to appoint guardians for any minor children alive at your death.

Probate is the legal process through which a deceased person's estate is administered and settled.

If you die without a will, your estate must go through probate before all your money can be distributed to your heirs. And if you die WITH a will…your estate still has to go through probate! The only way to avoid probate is with a revocable living trust.

What’s so bad about probate? While it provides a structured way to settle an estate, it can also be time-consuming and costly. Even a simple probate can take years to complete and eats up as much as 3-7% of the estate assets in the meantime. It’s also a public proceeding that makes your will available to anybody who wants to look at it.

Although a will is subject to the probate process, a living trust is designed to bypass it completely.

A revocable living trust allows you to manage your assets during your lifetime while retaining the flexibility to change or dissolve it at any time. One key benefit is that, upon your death, assets in the trust can pass directly to your beneficiaries without going through probate, saving time and costs. Additionally, it provides a plan for managing your affairs if you become incapacitated. It’s a versatile tool for effective estate planning.

You have two options with your estate planning: a will-based plan, or a living trust-based plan. The vast majority of my clients choose a living trust. With a living trust, you appoint a chosen individual to manage your assets should you become incapacitated and distribute them to your family at your death. It is almost always preferable to a will because it is designed to avoid the time, expense, and publicity of probate, which a will cannot avoid.

It comes as a surprise to many of my clients that wills do not avoid probate court…they guarantee it!

I go over the difference between a will and a living trust in depth during our Planning Session. The most common question I get at the end of this session is, “Why would anybody ever do a will?!” Ultimately, however, the decision is yours.

Having an estate plan is important no matter how ‘simple’ you think your circumstances are. It allows you to outline your preferences for healthcare decisions, designate guardians for any dependents, and specify how your assets should be handled.

If you don’t currently have a will or trust, you may think you don’t have an estate plan….but you do. It’s just that the state has written it for you! All states have a default plan for your family and assets in the event of your incapacity or death. That’s the plan you have now. Estate planning is “opting out” of the default plan and putting your own wishes in place.

You can. Keep in mind that online platforms like Legal Zoom and law firms are two different things. They provide two different services. This is why the cost is different. Legal Zoom offers form documents you fill out and execute yourself. It is not a law firm and does not give legal advice. Attorneys, on the other hand, counsel you and give you legal advice based on your specific circumstances. They will customize your documents, ensure they are signed with the proper formalities, and pick up the phone when you call with questions. If these things are important to you, you should work with an attorney. If they are not, DIY may be a better option.

It depends! Estate planning is not one size fits all, so it’s hard to give you a quote without knowing more about you. Even if you believe your situation is relatively simple, there are likely nuances you are not considering. I discuss my transparent flat fees and process at length in our Planning Session, after I’ve counseled you on your options to meet your goals. I will only recommend planning with me if the amount you would save by doing an estate plan is greater than my fee.

I understand that cost is an important factor in choosing an attorney, and that estate planning is a significant investment for many. It is my goal to be as transparent and fair as possible. For that reason, I offer flat fees as opposed to billing by the hour, so you know exactly what your investment will be. I also offer a 100% satisfaction guarantee.

Let me start by saying what we do NOT need! We do NOT need account statements, social security numbers, or tax returns. We DO need information on what kind of assets you own (house, retirement account, life insurance, etc.), their relative value, and how they are titled (jointly, individually, etc.) Beyond that, we simply need answers to questions about your personal estate planning preferences, including:

* Who you would want raising your minor children if something happened to you and your spouse or partner

* Who you want to be in charge of your children’s money until they are old enough to mange it themselves

* Who you want making medical and financial decisions for you in the event of your incapacity

Don’t worry if you don’t have the answers to these questions right away. You’ll have plenty of time to think things over throughout the process.

I have an easy, 3 step process designed to have your will or trust and other estate planning documents created and signed in 6-8 weeks:

1. The first step is to attend your Planning Session. You’ll fill out a secure online questionnaire (“Family Profile”) before we meet so we can make the best use of our time together. At this session (in my office or via Zoom), you’ll learn about your options and my flat fees. When you are ready to move forward, I’ll email you an engagement letter and invoice, both of which can be executed online.

2. Next is your Estate Plan Design Meeting. We’ll roll up our sleeves and design your will or trust and other estate planning documents, working off the information you provided in your Family Profile. After this session, I’ll draft your documents, and send a copy for your review about two weeks later. We’ll then make any changes or updates you’d like to make. When everything is good to go, we’ll coordinate an in-person Signing Ceremony.

3. Your Signing Ceremony is where you’ll sign your documents with the proper legal formalities, in front of two witnesses and a notary. We can have this session at my office or your home. Following execution of the documents, I am available for free, unlimited lifetime consultations regarding your estate plan.

The Law Office of Elizabeth Roache is a boutique, woman-owned law firm based in Wilton, Connecticut. We prepare comprehensive estate plans for residents of Connecticut and New York.