On 2008-04-03 13:51:41 -0700, Tad Borek <borekfm@[EMAIL PROTECTED]
> said:
> Anthony, I'd strongly suggest speaking with an estate planning attorney
> who is familiar with your type of case, it's a specialized area of law.
> A big issue here is the effect of any inheritance on disability
> benefits and other sup****t that your son might currently qualify for.
> You may have looked into this already, but there is an estate-planning
> method called a "Special Needs Trust" that is used in this context. The
> purpose of an SNT is to pass assets to a disabled beneficiary without
> disqualifying them from their disability benefits. As part of that you
> can include planning to address the estate administration - as someone
> posted that's something to consider also, the probate of a FL estate,
> given that your son is in MA.
Yes, that is a very good idea. Anthony, I would suggest you research
these issues on your own, as best you can, before you consult a lawyer.
Then, you will be in better position to understand what the lawyer
tells you.
I have one reservation. Be wary of any offer on the part of a lawyer to
take over the whole process and serve as executor, especially if it is
done for a percentage of the value of the estate, such as 2%, 5%, or
whatever. That is a danger signal. Not only lawyers, but also banks and
other financial institutions, can take advantage of bereaved heirs who
are lacking in knowledge of how the probate process works.
Get legal advice and other professional advice when it is needed, for
specific issues that may arise. Pay the lawyer his or her usual hourly
rate for consultation about particular matters. The same goes for
accountants, real estate people, etc. Avoid any professional person
who wants to do something you do not understand for a suspiciously high
fee or for a percentage of the value of the estate.
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