The cost of not planning is much higher than the cost of planning.
Don’t take my word for it, let the numbers do the talking…
The average cost for having just a Last Will and Testament or no Will is around $30,000.
Below are listed the costs and the source of how much it costs.
No Will or Only a Will
| NO WILL OR ONLY A WILL | ||
| Gross Worth | $ 250,000.00 | Home – $140,000, savings, cars, etc. |
| Executors Fee (3.1%) | $ (7,750.00) | State Statute |
| Legal Fees (2.9%) | $ (7,250.00) | State Statute |
| Funeral | $ (9,000.00) | Sisco Funeral Chapel |
| Misc. Costs | $ (1,000.00) | |
| Guardianship – Uncontested | $ (2,000.00) | |
| Annual Reports | $ (1,250.00) | |
| Filing Fee | $ (165.00) | State Statute |
| Misc. Court Trips | $ (2,000.00) | For other issues arising in guardianship |
| Loss of Financial Control | ??? | |
| Loss of Healthcare Control | ??? | |
| Emotional Cost | ??? | |
| TOTAL COSTS | $ (30,415.00) | |
This “plan” will take 6 months to years to finish before anybody sees any money.
It is possible to
- Lose control of your wealth
- Lose control of your healthcare
With a Plan
| Gross Worth | $ 250,000.00 | Home – $140,000, savings, cars, etc. |
| Estate Planning Cost | $ (3,000.00) | |
| Funeral | $ (9,000.00) | Sisco Funeral Chapel |
| Misc. Costs | $ (1,000.00) | |
| TOTAL COSTS | $ (13,000.00) |
Weeks to a few months to finish.
You keep control of wealth.
You keep control of healthcare.
The Difference
$17,415!!!!
from Estate Planning Bentonville, Springdale, Fayetteville AR http://ift.tt/29HuoJO
from DeWitt Law Firm, PLLC
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