Problem:
Client pays $4,000 to $6,000 for a Revocable Trust, Pour-Over Will, Health Directives and Powers of Attorney. Attorney provides a letter of instructions outlining what should be done. Package goes into the office drawer, safe deposit box or becomes a paperweight.
At the triggering date, the attorney sadly informs the grieving client that a probate proceeding must be opened or some legal maneuvering must be completed have assets transferred. More money, more aggravation, bad timing.
Solutions:
Client should overcome procrastination
Follow up by CPA and/or Attorney
Communication
Create a checklist of assets for title changes – not just real estate