Q: I am not wealthy.  Why do I need a testamentary plan?

A:  Everyone can benefit from putting their legal affairs in order.  However, the need to do so is of critical importance to families with minor children.  Wills and Trusts are not just for rich people, those of us with children must provide for their care in the event that we are not here to do so ourselves and these documents do just that.

Q:  I have heard that a Trust may be a good way to protect my children's assets.  Do I have to transfer assets to the Trust now?

A:  Trusts are very useful and can accomplish many goals not the least of which is to secure  the assets of minor children.  While it is true that to get tax protection you should transfer assets, or fund a trust, during your life a Testamentary Trust is an excellent tool to protect minor children and provide detailed instructions for their continued care and it does not need to be funded until after the Trust creator's death.   These types of Trusts are simply incorporated into your will and will remain asset free during your lifetime. 

Q:  My wife and I have decided to select my brother to be the guardian for our children.  We are concerned about how other family members will react when they find out they were not chosen.

A:  This concern is one of the most common reasons that my clients have raised when explaining why they delayed their estate plan.  The important thing to remember here is that you do not have to notify anyone of your selection of a Guardian for your children.  These documents are confidential and if you did not choose your sister there is no reason that you ever need to tell her.   It is important that you do not allow concern for the feelings of others to interfere with the larger interest of selecting a trusted Guardian for your children.                                                                                                                                                                                                        

Q:  How long does it take to establish my estate plan?

A:  Because I understand how important these matters are to a family's peace of mind I strive to provide every client with a complete testamentary plan, fully customized to their individual needs, wants and values within 3 weeks of our initial consultation.   The process begins with an initial interview where we determine the scope of the Testamentary plan, then we meet again in a Plan review where we review the elements of the plan and decide which changes need to be made, and lastly we proceed to our Plan signing where your Plan will be witnessed, notarized and packaged together for easy document storage. 

Q:  We are on a tight budget.  How much will our Testamentary Plan cost us?

A:  A typical Testamentary Plan includes 8 documents, 4 for each spouse and I charge $500 for the service including the initial consultation, the review and the Plan signing.  While this fee is significantly less than most attorneys charge I am committed to providing families with a fully customized Plan at a fee they can afford.  In keeping with my commitment I offer night and weekend meetings because I know how hard it is for families to find the time in a busy work week to take care of important matters such as implementing an Estate Plan.

To submit a question to Jennifer please
email Jennifer@CathcartLegal.com

Jennifer Cathcart, P.A.
Attorney at Law
27251 State Road 54 Suite B-14, Welsey Chapel Florida 33544
(813) 857-6109
FAX (813) 364-1748
Jennifer@CathcartLegal.com