Hi, I am planning to setup a living trust through MetLife Legal plan and they are charging me $400 for registration and other charges outside of their legal services. 1. Is this $400 fees expected? 2. Any suggestions and recommendations are welcome Location - Bay Area Living trust to include - house - stock portfolio #trust #mortgage #housing #sanfrancisco #estateplanning #estate-planning
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I was reached out by them about doing this, can someone explain what's the advantage of doing this?
The no complicated answer: it's similar but more powerful then a will. Non complicated answer Google or talked to professional
Story from last year: apparently this desi couple in Arizona decided to check out a frozen lake by walking on top of it. Two kids got orphaned. Since no Trust was set up, child protection took custody of children and won’t release to grandparents or anyone else. They will end up in foster homes. Had they had a trust set up, they could have designated somebody else to be the “in-charge” and that guy would have legal custody and could have sent the kids back to India to be with their family. Therefore it’s a good idea to set up the trust. Sort of like insurance.
Is MetLife legal plan a scam? I never know if worth signing up each year. What do people use it for?
I think it is a hit and miss
Sign up for the year when you think you might need it. Most use it to set up a Trust. It could be a useful thing if you’re into lots of real estate, rentals, accidents etc
I got it done last month for 300 at Indus counsel. They did a good job. It’s for filing/notary fees. I also went through MetLife legal
I have Met Life legal as well and plan on doing a trust this year. I spoke with a SJ law firm that's covered under the plan and they are some OOP fees. More if you have investment properties or business assets as only personal assets are covered under the plan. And yes, if you own real estate and/or significant assets in CA you really need a trust to avoid probate. If you're working with a financial planner, it's also good idea to have them take a look at the trust as well before it's finalized.
I am doing trust/wills in Seattle area and I got quoted $700. I have legal enhanced
Just curious, what all are you planning to include as part of trust?
Is it joint trust with your partner ?