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28 Jun, 2014 by Spencer
Mr Moravec knows his stuff, especially helpful for planning - planning for marriage, for divorce, & for death. Who knew that the proceeds of an life insurance policy should be in a trust? I had no idea that certain wills (if done by hand with handwriting but also with typed words) could be invalid in California. I now know the difference betw a power of attorney and a medical power of atty. I can now sleep more soundly. Thank you Mr. Moravec. Money well spent for such attention to detail and such personal attention.
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24 Sep, 2017 by Anonymous
Hugh outright verbally lied to me before I hired him. We were the only 2 people in our only face-to-face meeting. I came to him with a trust instrument I had managed to get via a previous lawyer from the 2 trustees (with a history of being untrustworthy to me) of a standard abc trust created by my parents in 1989. My father, pretty much the sole breadwinner, died in 1992. I had heard the trust included some individual family money my father had inherited in 1989. The trust instrument didn’t include schedules, and the trustees chose not to send a record of assignments or disbursements, even though requested.
Hugh told me verbally that the law was “black and white” in this area, that the trustees HAD to provide the financial accounting of what was assigned, what was left, and more-or-less what was disbursed. He said we would have to resend the first letter sent 1.5 years before, and that, if the trustees still refused to cooperate, we would petition the court to order the information and then move to ask for their removal as trustees (assuming further lack of accounting). Then I would be named trustee and we would subpoena the missing documents. He said it was possible there was little money left, but that I would at least know the true financial info. I paid $5G. He asked me to research additional addresses online and to provide the emails 1 trustee had written outlining various loans/gifts made to the 2nd trustee and non-beneficiaries. (I had found online that making loans to trustees is generally considered to be trust mismanagement.) I sent the addresses/emails. He never commented on those emails, despite me writing him asking whether this was proof of trust mismanagement. Emails filled with lies from the trustees (one disproved by another email I sent to Hugh) followed. There were time extensions requested too, and the number of them was something Hugh contradicted himself about verbally via phone vs email. He phoned I should grant every requested extension, based on what he knew the judge would say once we petitioned the court (which never happened).
Near the end, a lawyer for the trustees wrote that I was NOT entitled to any accounting. Hugh responded there was case-law. She asked for the cases and he refused to provide them.
Finally a trustee-homemade accounting, one that didn’t seem believable considering past spending, came. I emailed Hugh about when were we going to petition the court to get the real info? Hugh refused to directly answer any of my questions. Finally, I googled from another lawyer site that I was NOT entitled to an accounting as a remainder beneficiary for a trust made before 2007! Wow!
We then had a 2nd phone call (after hiring). He said that maybe the money my father inherited hadn’t been put in the trust. Maybe he died “intestate,” which meant my mother and offspring would divide it equally. (Talk about out of “left-field!”) He asked if I had been notified of any probate- no. He said he would do a deed search on the marital home- no, wait, the other lawyer did that. Hugh never explained what purpose that had. He kept repeating himself, moving away from the speaker, and interrupting my questions. Afterward I thought- wait, isn’t that pretty much the POINT of trusts-to AVOID probate and estate taxes, which my father hated? Hugh wanted $1500 more to do a probate/will search. I was feeling misgiving, but after even MORE googling and remembering the word “executor” having once been used, I thought maybe I could get SOME idea of what went into that trust, perhaps through a “pour-over” will. A month later Hugh had emailed nothing about the house deed, nor probate nor will. I asked for an update and said he never directly answered any of my questions. I got a rude email saying I looked for him to confirm a personal diatribe against a trustee and he wasn’t going to represent me anymore- like that was even an issue anymore! LOL Net result: $6500 poorer due to Hugh, and I have none of the promised info!
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23 Oct, 2011 by Anonymous
He was more concerned with making money for himself and his firm than he was in taking care of us.
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FAQs
Questions? We have answers
What a Trusts Lawyer Can Do for You
A trusts lawyer specializes in creating and managing trusts, which are legal entities that allow individuals to transfer assets to beneficiaries while maintaining control over how and when those assets are distributed. Trusts are used for estate planning, asset protection, tax planning, and ensuring the financial security of loved ones. Trusts lawyers help clients choose the right type of trust for their needs, draft trust documents, and advise on the administration and management of trusts.
Whether you're planning to pass on your assets to your heirs, protect your wealth from creditors, or provide for a disabled family member, a trusts lawyer can help you establish a trust that meets your financial and personal goals.
When Should I Hire a Trusts Lawyer?
You should consider hiring a trusts lawyer in various situations, particularly when you're planning for the future distribution of your assets or protecting your wealth. Common reasons to hire a trusts lawyer include:
- Estate planning: If you want to ensure that your assets are distributed according to your wishes, a lawyer can help you create a revocable or irrevocable trust to avoid probate and provide for your heirs.
- Asset protection: If you want to protect your assets from creditors, lawsuits, or potential future liabilities, a lawyer can help you establish a trust to shield your wealth.
- Special needs planning: If you have a disabled family member, a lawyer can create a special needs trust to provide for their care without affecting their eligibility for government benefits.
- Tax planning: If you're looking to minimize estate taxes or manage tax liabilities, a lawyer can help you create tax-advantageous trusts, such as a credit shelter trust or charitable remainder trust.
- Charitable giving: If you want to leave a legacy through charitable donations, a lawyer can help you set up a charitable trust to ensure your donations are managed according to your wishes.
- Business succession planning: If you own a business and want to ensure a smooth transition of ownership, a lawyer can help you establish a trust to pass the business on to your heirs or chosen successors.
Hiring a trusts lawyer early in the estate planning process ensures that your assets are protected and your wishes are clearly documented, reducing the chances of disputes after your death.
What Does a Trusts Lawyer Do?
A trusts lawyer provides a variety of legal services to help individuals create, manage, and administer trusts. Their responsibilities often include:
- Drafting trust documents: Preparing the legal documents needed to create the trust, ensuring it is tailored to your specific goals and complies with state and federal laws.
- Choosing the right type of trust: Assisting clients in selecting the most appropriate type of trust for their needs, whether it's a revocable trust, irrevocable trust, living trust, or special needs trust.
- Trust administration: Guiding trustees through their legal responsibilities, including managing assets, making distributions to beneficiaries, and filing tax returns.
- Modifying or terminating trusts: Helping modify or terminate trusts if circumstances change, such as changes in tax laws, family situations, or personal preferences.
- Protecting beneficiaries' interests: Structuring trusts to protect the interests of beneficiaries, especially if there are concerns about financial management, disability, or dependency issues.
- Minimizing estate taxes: Assisting clients in structuring their trusts to minimize or avoid estate taxes, ensuring more of the estate passes to beneficiaries.
- Handling disputes: Mediating or representing clients in court if disputes arise among beneficiaries or between trustees and beneficiaries.
How Are Trusts Lawyers Paid?
Trusts lawyers typically charge for their services based on the complexity of the trust and the type of legal work involved. Common payment methods include:
- Flat fee: For drafting basic trusts, such as revocable living trusts or special needs trusts, many lawyers charge a flat fee. This can range from $1,000 to $5,000 or more, depending on the complexity of the trust.
- Hourly rate: For more complex trust planning, ongoing trust administration, or resolving disputes, some lawyers charge by the hour. Hourly rates typically range from $150 to $500 or more, depending on the lawyer’s experience and location.
- Retainer: For long-term trust administration or complex estate planning cases, some lawyers may require a retainer, an upfront payment that covers ongoing services.
- Contingency fee (rare): In rare cases, particularly in disputes involving the administration of a trust, lawyers may work on a contingency fee basis, getting paid only if they successfully recover funds or resolve a legal dispute in your favor.
Always discuss the fee structure with your lawyer during the initial consultation to understand the total cost of services.
How Much Does a Trusts Lawyer Cost?
The cost of hiring a trusts lawyer depends on the complexity of the trust, the lawyer’s experience, and the fee structure. General cost estimates include:
- Basic trust creation: For simple trusts, such as revocable living trusts, fees may range from $1,000 to $3,000.
- Complex trust creation: For sophisticated estate plans involving multiple trusts, tax planning strategies, or special needs considerations, legal fees may range from $5,000 to $10,000 or more.
- Trust administration: If you are serving as a trustee and need ongoing legal advice, hourly rates for trust administration can range from $150 to $500 or more.
- Dispute resolution: Costs for litigation or mediation in trust disputes may range from $5,000 to $50,000 or more, depending on the complexity of the case.
Be sure to get a detailed cost estimate from your lawyer during the consultation to ensure the services fit within your budget.
Top Questions to Ask a Trusts Lawyer
Before hiring a trusts lawyer, consider asking the following questions:
-
What experience do you have with creating trusts?
Ensure the lawyer has experience drafting trusts and managing trust administration for clients with similar goals or asset structures. -
What types of trusts do you recommend for my situation?
Ask the lawyer to explain the different types of trusts available and which ones best suit your needs. -
How do you charge for your services?
Clarify the fee structure and request an estimate of the total cost. -
What are the tax implications of the trust?
Ensure the lawyer can explain how the trust will affect your taxes and strategies to minimize tax liability. -
How long will it take to set up the trust?
Ask for a timeline for creating and finalizing the trust documents. -
Will you handle the trust administration?
If ongoing management is required, inquire whether the lawyer will assist with trust administration or if you'll need a separate trustee. -
Can you help resolve disputes if they arise?
Ask about the lawyer's experience in resolving trust disputes.
How to Check the Credibility of a Trusts Lawyer
To ensure you are hiring a reputable trusts lawyer, take the following steps:
- Verify their bar status: Check with your state bar association to confirm the lawyer is licensed and has no disciplinary actions.
- Look for trust law experience: Review their website or professional profile to ensure they specialize in estate planning and trusts.
- Read client reviews and testimonials: Look for feedback on platforms like Avvo, Martindale-Hubbell, or Google.
- Ask for references: Request references from past clients who can speak to their experience with the lawyer.
- Check for certifications: Look for certifications such as Certified Estate Planning Law Specialist (EPLS) or memberships in organizations like the American Academy of Estate Planning Attorneys (AAEPA).
What Should I Prepare for My First Consultation?
To make the most of your first consultation with a trusts lawyer, bring the following:
- List of assets: Prepare a list of all your assets, including real estate, bank accounts, investments, retirement accounts, and personal property.
- List of beneficiaries: Provide names and contact information of individuals or organizations you want to name as beneficiaries.
- Existing estate planning documents: Bring copies of any existing wills, trusts, or other estate planning documents.
- Financial information: Bring financial statements, tax returns, and other relevant financial documentation.
- Questions for the lawyer: Prepare a list of questions about the trust creation process, fees, and how the trust will protect your assets and beneficiaries.
- Goals for the trust: Clearly outline your objectives, such as asset protection, tax minimization, or provisions for beneficiaries, so the lawyer can tailor the trust to your needs.
By preparing thoroughly for your consultation, you can help the lawyer assess your situation effectively and receive the best possible legal advice for creating and managing your trust.
