I’ve written about this before, but I’m going to explore it a bit now. My dad’s death increased the impetus for us to get our wills done and create our own trust, which we have been remiss in doing. Additionally, I have some questions on the family trust for which I’m now the sole trustee… meaning, we need to find a family lawyer. So, I’ve spent the last two weeks investigating. Here’s what I’ve got so far:
- An college friend of mine, who is now a Sr. Atty for a utility out here, gave me a referral to a friend of hers in Irvine. This friend is email accessible. She quoted me (in email) $275/hr, with no package rate mentioned in the email for the wills/trust (she might have one; she didn’t mention it).
- A financial advisor referred me to an attorney in Downtown LA. I’ve spoken to this attorney on the phone; he doesn’t have email. He seemed personable. He quoted $250/hr, with a rate of $1500 for the wills/trust.
- An insurance agent referred me to an attorney in West LA. This attorney has email; he called me in response to my email and we chatted for a bit. He charges $275/hr, with a rate of $2200-2700 for a married couple establishing wills/trusts. He seemed to emphasize that doing detailed document reviews by the client typically costs him more time due to questions, and thus costs the client more money (and he indicated that lawyers, bankers, and engineers asked more questions). He seemed personable, is a M.O.T. (Member of the Tribe), and does know people that I know.
I’m also going to be getting a referral to a place that does solely wills/trusts. They will likely be cheaper, but might not be able to handle complicated stuff, surely won’t answer questions as well, and may not review the trust questions I have.
I’d like to make the decision in the next week. I won’t say “money is no object”, but I would like to find the right balance between cost and benefits. Translation: I’m, ummmmm, frugal. How to choose. What intangibles should I look at, beyond price? I feel it is between #2 and #3. The key drawback to #2 is lack of email, but I could likely get over that. Of course, if someone reading this has a recommendation for someone in Southern California, I’d welcome it. Specifics, please.
[Lastly, I’ll note that the music my computer is playing right now is very ironic]
