Will, trust

[Chas]

Looking for someone to write up a will and explore if I would benefit from having a trust. NOT looking to do anything online. Just a real lawyer who can draw up the docs I need for HI. Thanks in advance for suggestions.

['elepaio]

dude, no

peace be with you.
' e

[randomq]

Just FYI I think federal and state taxes on estates kick in well above 5 million dollars. So unless you have a complicated situation a trust may not be necessary.

[Chas]

Thanks. No, I won't have to worry about that! I too am thinking that just a will is sufficient. Just one of those things I never got around to.

[kalianna]

I've checked this out a little bit. My understanding is that the will says what will go to whom. Any accounts that don't list a beneficiary or that are contested go into probate and will take much longer to disperse than having a living trust.

[ChunksterK]

OK, the OP is looking for " a real lawyer who can draw up the docs." I need one, too, and I already know the difference between a trust and will. Anyone know a good estate planning attorney?

[terracore]

Thanks. No, I won't have to worry about that! I too am thinking that just a will is sufficient. Just one of those things I never got around to.

It is my understanding that even with a will, there is no way to avoid probate in Hawaii unless a trust is established during life.  I think the minimum the courts and attorneys will skim off the top is 6% in probate.  And it will add many months and untold stress before people get their inheritance.  

And without a will or trust, the probate court will decide who gets what.

[MyManao]

A will is a document that dictates the distribution of an estate, after the principle has passed. It is overseen by the courts, the state, it takes time and there’s taxes involved. A trust oversees, administers, the assets of a principle while they live, and outlives them in the event of their death. As such, there is nothing for the state to oversee, meddle in. For instance, if you have property and wish to leave it to your kids, it’d be best to transfer the title to a trust in which both you and your kids are a part. Then when you pass they already own, and can just carry on without any involvement with the state.

By far the best trust attorney in Hilo for these types of concerns in Paul Booth. Whether he still has a forward facing practice, ie is taking on new clients etc., I have no idea.

[Iju]

I have my trust set up 11 years ago by a lawyer in Hilo named Stuart Oda.  His office is on Ululani st.  I think the fee was around $1,000 at that time.  Probably costs more now.

[kalakoa]

A trust can also be used to obfuscate ownership.