Posts

What Is A ‘Revocable Living Trust” And Why You Need One

/0 Comments/in , , , , , , , , , , , /by
Revocable trust on a wooden desk.

 

Just south of ‘Sawmill Creek…..
Hi Attorney Kevin Pritchett here

    I conclude this Basic Estate Planning Series with an explanation of the centerpiece of a proper Estate plan…The Revocable Living Trust

“What Is A Revocable Living Trust?”
     A Revocable Living Trust (RLT)  is a document you sign that provides for the transfer of all the assets in your Estate upon your death.

    Most people believe that its the WILL that transfers your assets..  A Will CAN transfer your assets upon your death if a Will is all you have.

    Remember, if you have a Will, your heirs are REQUIRED to file that will with the Probate Court of the County where you died and the Probate Legal Process takes over…..a costly and time consuming legal court process where your entire estate is made public and  anyone with a possible claim can file a petition with the court and adjudicate that claim.

    On the other hand, with a RLT all your estate assets are listed and you provide for any gifts and transfers you wish to make right in the Trust.

    The big differences are:
==the RLT is completely private…no court filing
required
==the RLT names a Trustee to handle the affairs  of the
RLT…not a court who names an administrator.
==you save time and court expenses

You Can Make Changes To Your RLT
    As long as you are alive and mentally competent you can make any changes you want to your RLT.However, once you become mentally incompetent(as determined by provisions of the RLT itself…no court determination required) or die, the RLT provisions become locked in and no changes can be made by the Trustee.

“Ok..But Why Do I Need Revocable Living Trust?”
    Glad you asked!!      Let’s say you own your personal home and maybe a vacation home.  The title to each of these parcels of real estate is you and your spouse in joint tenancy or tenancy by the entirety (which means if one of you dies the surviving spouse has automatic title to the real estate).

     The problem with this type of title is…..what if BOTH you and your spouse pass away at the same time..???  

Answer:  the real estate has no living title owner and the heirs must GO TO PROBATE COURT to sort it out….not good.  Expense, delays and possibility of disputes with potential creditors.

       ALL of your real estate should be titled in your Revocable Living Trust.  The RLT states that both spouses are GRANTORS of the RLT and also provides a Trustee to take over administration of Trust after the last of the two Grantors dies.      

     Without this RLT in the same situation above, your family would have to file an expensive and time consuming petition with Probate Court for someone to be named administrator or guardian so as to transact your business.   

     Besides the expense of hiring a Probate Attorney
($2500 to $5,000 minimum Retainer plus ongoing
hourly legal fees), the case could take 12-18 months
to resolve.  Add THAT potential cost up at $375/hour or more per hour!!!

Eliminates The Expense And Delay of Probate

Without this RLT
in the same situation above, your family would have to file an expensive and time consuming petition with Probate Court for someone to be named administrator or guardian so as to transact your business.   

     Besides the expense of hiring me as a Probate Attorney ($2500 to $5,000 minimum Retainer plus ongoing hourly legal fees), the case could take 12-18 months to resolve.  Add THAT potential cost up at $375/hour or more!!!

Reach Out To Me If You Have Questions.  
If you have comments or questions about any of this…

CLICK HERE  to schedule your FREE CONSULTATION

OR

send me an email : ironkop@gmailcom or

if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
“Things Don’t Get Better With Neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
www.KevinPLaw.com
ironkop@gmail.com
312-505-1957

Attention Real Estate Investors: The Biggest Mistake You’re Probably Making That WILL Cost You EVERYTHING!!!

/0 Comments/in , /by

 

 

 

 

 

 

Attention Real Estate Investors: The Biggest Mistake You’rE Probably Making That WILL Cost You EVERYTHING…

Just south of ‘Sawmill Creek…..
Hi Attorney Kevin Pritchett here
No Estate Plan
  The number one mistake I
see ALMOST EVERY SINGLE
REAL ESTATE INVESTOR MAKE…
Owing real estate and NOT integrating
your real estate into a properly constructed
Estate Plan…
Here’s the typical scenario
==You own 3-5-10 or more properties
==Properties may even be owned in
    your own name (BIG MISTAKE 1 right there..)
== If you even have your properties in an
     entity,you have the wrong type of entity
    (different entities are required for
    different types of investing….)(BIG MISTAKE 2)
==None of your properties are integrated
    into a properly formatted Estate Plan
    so that when you die, your estate is
    required to open a Probate Legal Case
   ($30,000+ to resolve…) to distribute the
    assets….assets get split up, taxed away…
EVERYTHING YOU WORKED FOR IS LOST…
The Simple Solution
  The tragedy of the scenario above (that
I see and have to fix all too often ) is
to
Step 1   Have ALL real estate in proper entities
Step 2:  Have a PROPERLY designed
             Estate Plan.
Step 3:  Designate a successor for
              your real estate assets.
Step 4   Integrate real estate entities
             and Estate Plan
              such that upon your
             death or disability the person of
             your choosing seamlessly takes
             over the operation and ownership
            of your properties with NO INTERRUPTION
            AND ABSOLUTELY NO TAX CONSEQUENCE
Your Real Estate Assets Are Not Properly Structured
  I would bet all MY assets that if you’re a real estate
investor…..
     YOU DON’T HAVE YOUR REAL ESTATE PROPERLY
       SITUATION AS DESCRIBED ABOVE!!!!

Reach Out To Me If You Have Questions.

   If you have comments or questions about
any of this…you only get ONE shot at this
and there’s a TON of stuff you need to know
to get it right!!!
  OR
\
…send me an email :ironkop@gmailcom
or if reading on my blog or Facebook page
leave your questions or comments below.

Remember…..

“Things Don’t Get Better With Neglect…..”
Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
312-505-1957
ironkop@gmail.com

Can You Afford To Lose 20-30% Of Your Retirement Savings?

/2 Comments/in , , , , , /by

Can You Afford to Lose 29-30% Of Your Retirement Savings?
Just south of ‘Sawmill Creek…..
Hi  Kevin Pritchett here
    Look…I  don’t have a crystal ball and I can’t predict the future.

    But here’s what I DO Know…..
==NOTHING including the stock market rises forever

==What goes up goes down…eventually

= Stock market losses are THE most devastating factor   
on your Retirement Savings….

==It IS Possible To Lock In Stock Market Gains    While
Avoiding ALL Stock Market Losses!!

   For the last several weeks I’ve explained among other things  the importance of having:

==Guaranteed Income For Your Retirement Income
     where you can lock in all gains and NEVER suffer
     stock market losses…EVER!!!

==a proper Estate Plan (Pour Over Will, Revocable     Living Trust, Power of Attorney For Healthcare and     Power of Attorney For Property;

==proper insurance coverage for Final Expense,    Mortgage Protection and Tax Free Income

I Know You Need A Swift ‘Kick In The Arse’
   From over 30 years experience working with clients I KNOW there are times when you need an ‘incentive’ to get off your arse and get things done….
my how you LOVE to procrastinate!!!

‘Black Friday’ Estate Planning/Retirement Income Promotion  
So Every year I hold my own ‘Black Friday’ promotion.  I’m giving you ‘An Offer You Can’t Refuse’..…

  Until Sunday 5 pm I’m offering you $3755 of Estate Planning Insurance Planning and Retirement Income Planning Services for only $585…a GIGANTIC 85% Savings!!

Here’s what you get for this limited time promotion

=Retirement Income Analysis
Regular Cost  $1,000   Black Friday Cost    INCLUDED

==Final Wishes Guide
Regular Cost:   $585          Black Friday Cost:  INCLUDED

==Life Insurance Review
  Regular Cost    $585         Black Friday Cost   INCLUDED
 == IRA/401K      Beneficiary Review
   Regular Cost:   $585       Black Friday Cost     INCLUDED

==Complete Basic Estate Plan:
     Pour Over will
    Revocable Living Trust
   Power of Attorney For Healthcare
  Power of Attorney For Property
  Transfer Title of 1 Personal Home To Trust 
Regular Cost:  $1085        Black Friday Cost:  $585

Total Regular Cost:  $3755     Black Friday Cost:   $585

CLICK HERE TO LOCK IN YOUR APPOINTMENT

Here’s the Catch(ES)
Great deal right???!!!   But there’s a catch..several actually

==CATCH #1
     There are ONLY 20  15 APPOINTMENTS AVAILABLE     (THIS OFFER IS GOING OUT TO OVER 3,000 PEOPLE. SPOTS GONE EVEN BEFORE EMAIL WENT OUT)

==CATCH #2     OFFER ENDS 5 PM SUNDAY APRIL
14..NO EXCEPTIONS.


To secure your appointment you:

Step 1: CLICK HERE TO LOCK IN YOUR SPOT

Step 2:  email me at ironkop@gmail.com and put      
‘I Purchased Black Friday Offer’
in subject line

After your payment is made and I receive your email my staff will contact you to schedule your appointment  (appointments either in person or by phone..easy peesie right???)

CLICK HERE TO LOCK IN YOUR APPOINTMENT

 $3755 of services you KNOW you want and need for only $585…..THIS IS A NO BRAINER!!! 

You Miss This…You Lose!!!!
 Promotion Ends Midnight Sunday April 14th..NO EXCEPTIONS!!. After the expiration..no whining, no begging…YOU’LL PAY FULL PRICE OR GO WITHOUT!!!  

 CLICK HERE TO LOCK IN YOUR APPOINTMENT

Remember…..
“Things Don’t Get Better With Neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
ironkop@gmail.com
312-505-1957


P.S.  $3755 OF Estate Planning, Insurance Planning
         and Guaranteed Income Planning For Only
  $585!!!    ONLY 20   15 Appointments
  Available…
        OFFER EXPIRES FRIDAY APRIL 14 5 PM..NO
  EXCEPTIONS
          CLICK HERE TO LOCK IN YOUR APPOINTMENT

What Is A ‘Revocable Living Trust” And Why You Need One

/1 Comment/in , , , , , , , , , , , /by
Revocable trust on a wooden desk.

 

Just south of ‘Sawmill Creek…..
Hi Attorney Kevin Pritchett here

    I conclude this Basic Estate Planning Series with an explanation of the centerpiece of a proper Estate plan…The Revocable Living Trust

“What Is A Revocable Living Trust?”
     A Revocable Living Trust (RLT)  is a document you sign that provides for the transfer of all the assets in your Estate upon your death.

    Most people believe that its the WILL that transfers your assets..  A Will CAN transfer your assets upon your death if a Will is all you have.

    Remember, if you have a Will, your heirs are REQUIRED to file that will with the Probate Court of the County where you died and the Probate Legal Process takes over…..a costly and time consuming legal court process where your entire estate is made public and  anyone with a possible claim can file a petition with the court and adjudicate that claim.

    On the other hand, with a RLT all your estate assets are listed and you provide for any gifts and transfers you wish to make right in the Trust.

    The big differences are:
==the RLT is completely private…no court filing
required
==the RLT names a Trustee to handle the affairs  of the
RLT…not a court who names an administrator.
==you save time and court expenses

You Can Make Changes To Your RLT
    As long as you are alive and mentally competent you can make any changes you want to your RLT.However, once you become mentally incompetent(as determined by provisions of the RLT itself…no court determination required) or die, the RLT provisions become locked in and no changes can be made by the Trustee.

“Ok..But Why Do I Need Revocable Living Trust?”
    Glad you asked!!      Let’s say you own your personal home and maybe a vacation home.  The title to each of these parcels of real estate is you and your spouse in joint tenancy or tenancy by the entirety (which means if one of you dies the surviving spouse has automatic title to the real estate).

     The problem with this type of title is…..what if BOTH you and your spouse pass away at the same time..???  

Answer:  the real estate has no living title owner and the heirs must GO TO PROBATE COURT to sort it out….not good.  Expense, delays and possibility of disputes with potential creditors.

       ALL of your real estate should be titled in your Revocable Living Trust.  The RLT states that both spouses are GRANTORS of the RLT and also provides a Trustee to take over administration of Trust after the last of the two Grantors dies.      

     Without this RLT in the same situation above, your family would have to file an expensive and time consuming petition with Probate Court for someone to be named administrator or guardian so as to transact your business.   

     Besides the expense of hiring a Probate Attorney
($2500 to $5,000 minimum Retainer plus ongoing
hourly legal fees), the case could take 12-18 months
to resolve.  Add THAT potential cost up at $375/hour or more per hour!!!

Eliminates The Expense And Delay of Probate

Without this RLT
in the same situation above, your family would have to file an expensive and time consuming petition with Probate Court for someone to be named administrator or guardian so as to transact your business.   

     Besides the expense of hiring me as a Probate Attorney ($2500 to $5,000 minimum Retainer plus ongoing hourly legal fees), the case could take 12-18 months to resolve.  Add THAT potential cost up at $375/hour or more!!!

Reach Out To Me If You Have Questions.  
If you have comments or questions about any of this…

CLICK HERE  to schedule your FREE CONSULTATION

OR

send me an email : ironkop@gmailcom or

if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
“Things Don’t Get Better With Neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
www.KevinPLaw.com
ironkop@gmail.com
312-505-1957

What Is A ‘Power of Attorney For Property’ And Why You Need One

/3 Comments/in , , , , , , , , , , , /by

Just south of ‘Sawmill Creek…..
Hi Attorney Kevin Pritchett here

“What Is A Power of Attorney For Property?”   
  A Power of Attorney For Property is a document you sign that gives the person you designate the power to handle business matters for you in the event you are unable to make decisions for yourself.

     A Power of Attorney For Property is only applicable while you are incapacitated and alive. Once you become able to handle your affairs, the person named is no longer entitled to handle your affairs.  Alternatively if you die, the document is no longer valid.

“Ok..But Why Do I Need A Power of Attorney For Property?”
    Glad you asked!!      Let’s assume you have dementia and are no longer possessed of a mental state considered necessary to knowingly handle your business affairs.  In other words, in this example, you do not have the mental capacity to transact your business affairs. 

       With a valid Power of Attorney For Property
the person you name in that document to handle your business affairs can carry on for your benefit without your heirs having to file a petition in Probate Court to be named as a guardian.

Eliminates The Expense And Delay of Probate
     Without this Power of Attorney For Property in the same situation above, your family would have to file an expensive and time consuming petition with Probate Court for someone to be named administrator or guardian so as to transact your business. 

Besides the expense of hiring a Probate Attorney ($2500 to $5,000 minimum Retainer plus ongoing hourly legal fees), the case could take 12-18 months to resolve.   Add THAT potential cost up at $375/hour!!!

Reach Out To Me If You Have Questions.  
If you have comments or questions about any of this…send me an email :
ironkop@gmailcom
or if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
“Things Don’t Get Better With Neglect…..”  

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc
ironkop@gmail.com
www.KevinPLaw.com
312-505-1957

What Is A ‘Power of Attorney For Health Care’ And Why You Need One?

/2 Comments/in , , , , , , , , , , /by

Just south of ‘Sawmill Creek…..
Hi Attorney Kevin Pritchett here:

“What Is A Power of Attorney For Health Care?”  
   A Power of Attorney For Heath Care is a document you sign that gives the person you designate the power to make medical decisions for you in the event you are unable to make decisions for yourself.

     A Power of Attorney For Health Care is”Durable” if it stays in effect even after you become incapacitated.

“Ok..But Why Do I Need A Power of Attorney For Heath Care?”
    Glad you asked!! 
   
Let’s assume you suffer a stroke or massive heart attack and you are incapacitated.  You’re on life support, a machine to help you breath and your medical prognosis is uncertain.

    What should your family do? 
==Keep you on all life support indefinitely?

==Take you off life support?  If so, when?

I Personally Had To Live This Nightmare
    I can tell you from personal experience(having had to make this agonizing decision for my mother, my father and my sister,its a living Hell not knowing.

     With a Power of Attorney For Heath Care you literally tell your designated representative what YOU want them to do.    Typically the form you complete states YOUR wishes and desires.  

Eliminates The Agony of Not Knowing What To Do
       A properly drafted Power of Attorney For Health Care gives your designated person your EXACT wishes and eliminates the agonizing guess work a family member would otherwise have to go through trying to decide what to do.

Reach Out To Me If You Have Questions.  
If you have comments or questions about any of this…send me an email :ironkop@gmailcom or if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
“Things Don’t Get Better With Neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
ironkop@gmail.com
www.KevinPLaw.com
312-505-1957

What Is A Will And Why Should You Have One

/1 Comment/in , , , , , , , , , , /by

Just south of ‘Sawmill Creek…..
Hi Attorney Kevin Pritchett here

Estate Plan Series:    
‘What Is A Will And Why Should You Have One’  
In previous newsletters I’ve shared that a proper Estate Plan has 5 components:  1. Last Will;
2. Power of Attorney For Healthcare; 3. Power of Attorney For Property and5. Revocable Living Trust.

   Today I’ll explain EXACTLY what a Willis and isn’t.

A Will Is A Roadmap Through The Probate
A ‘Last Will and Testament’ is a written declaration of how you wish your estate assets to be distributed.

    To start the estate distribution process, your heirs file your will with a Probate Court.
   Probate Court is the official, legal and binding court process that reviews your Will and declares that it is valid and that your assets may be distributed according to the provisions of the Will.

   A Will in effect, is the ‘roadmap’ a Probate Judge will use to determine how your estate will be distributed.

Heirs And Creditors Can Challenge
    Every possible heir gets a copy and notice of the Probate Court filing and has the opportunity to challenge any provision of the Will.
     Possible creditors (people you may owe money to) also get notice of the Probate filing through a required notice that gets posted in a local newspaper.  Any creditor who believes you owe them money can file a petition with the Probate court.
     As you can see, the entire Probate process can be quite lengthy and as a result can become enormously expensive if there are numerous challenges from heirs and creditors.

Objective Is To AVOID Probate With A Trust
    As a result of these possible delays and expense involved the planning objective is almost always to AVOID PROBATE.

   The simple and effective way to avoid Probate is to create A Revocable Living Trust and use it in conjunction with a ‘Pour Over Will. ‘

    A Trust is simply a legal entity that can own and distribute assets.  A Trust avoids probate  because:

==A Trust is a private document that    does NOT require filing.    All provisions made in a trust    remain absolutely private.

==Since there are no court filings    there are no delays and extensive    legal fees like those associated with    a Probate proceeding which is in essence  a trial if there are legal challenges.

 A ‘Pour Over Will’
     So if a Trust is the preferable way to transfer Estate assets why have a Will at all…?

    The problem with not having a will is if for some reason your heirs or creditors challenge or there is some other challenge that must be resolved in court.

     Without a Will, the Probate Judge will be required to apply the Law of ‘Intestate Succession’ ( the priority of persons who receive your assets ) with all the
delays and expense of Probate.As a result of this law,  your assets will be divided according to that
arbitrary law rather than by your wishes.

     So the solution is to create a special Will called a ‘Pour Over’ Will that states that your intention is that all your assets are distributed through your Revocable Living Trust and not the Will.

     As a result, if for some reason your estate is brought into court, a valid Pour Over Will must be upheld and honored by a Court and your Estate will be divided according to your Trust and not through Intestate Succession or by any heirs or creditors contrary desires.

   Stay tuned for upcoming installments of this Estate Plan Series where I’ll explain the components of a Trust in more detail. 

Reach Out To Me If You Have Questions.
   If you have comments or questions about any of this…send me an email :ironkop@gmailcom or if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
“Things Don’t Get Better With Neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
312-505-1957
ironkop@gmail.com
www.KevinPLaw.com

The 5 Steps To Creating An Estate Plan The ‘Right Way’

/0 Comments/in , , , , , , , , , , /by

Just south of ‘Sawmill Creek…..

Hi Attorney Kevin Pritchett here

Why You Need An  Estate Plan
So you know you need an estate plan….To die without handling your affairs creates CHAOS and expense for your loved ones.

   So even though you KNOW you need it for all the usual excuses you never seem to get around to it….NOW’S THE TIME!!

 There’s A TON Of Misinformation
       About Estate Planning      
The other problem is that there’s a TON of misinformation about what constitutes a proper Estate Plan (most of it from people like your ‘Uncle Melvin’ or ‘the guy down the block ‘who always seem to have advice to give…..

     So to cut through all the noise…here are the 5 steps to creating an estate plan:

The 5 Steps To Creating An Estate Plan
Step 1:Decide Your Final Wishes
      Before you do ANYTHING you MUST sit down and WRITE OUT what your final wishes are.I use a FINAL WISHES PLANNER for my clients…
   Then after you’ve decided on what you want you complete these 5 steps:

Step 2:  Create Powers of Attorney For Healthcare
             and Property  
Powers of Attorney are documents you create that allow others to act on your behalf…in this case to handle your Healthcare decisions and your business affairs.   
Powers of Attorney are ONLY effective when you are still alive.  Once you pass, other documents takeover.    In Illinois, a Power of Attorney For Healthcare is used instead of a ‘Living Will.’..they both do the same thing…state your Healthcare wishes in the event you cannot.

Step 3:  Create A ‘Pour Over’ Will
    This is where people ‘mess up.’ I will is just one instrument of your Estate Plan. A will is NOT an estate plan in and of itself nor does it  avoid probate.A will is in fact the guide a probate judge will use to distribute your estate. 

      You use a will basically to state that all your assets will be distributed by your Trust (more on Trusts in a moment).     

  If ALL you have is a will your heirs will
still have to go through the expense and delay of Probate

Step 4: Create A Revocable Living Trust  
Ideally you want your Trust to be the document
that distributes your estate assets…not your Will.

     Why?  Your Trust WILL NOT go through Probate, is private and does not have delays and expense of Probate Court.

      There are many types of Trusts but the one used in most simple Estate Plans is a Revocable Living Trust…which means you can change it any time in your life.

Step 5: Update Estate Plan Regularly
      Once you create your Estate Plan make sure you review it at least once every 3 year sor so.  Life changes and your Estate Plan must adapt accordingly.

Reach Out To Me If You Have Questions. .
If you have comments or questions about any of this…send me an email :ironkop@gmailcomor if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
‘Things don’t get better with neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
ironkop@gmail.com
312-505-1957
www.KevinPLaw.com

Think You’ll Live Forever Don’t You….YOU ARE SO WRONG!!

/0 Comments/in , , , , , , , , , /by

Just north of Saw Mill Creek…

Hi Attorney Kevin Pritchett here
   
Look Very Closely At This Picture  
Look very very closely at this picture.  Its a photograph of a group of guys I play music with. 2 Guitar players, Bass, Drums, We’re all about the same age, same stage in life.

One of the gentlemen in the picture just dropped dead.…
 
    Each of us was stunned…we were all just playing in a gig together just the week before!!.

Of course there’s a back story and medical shenanigans and Lord knows what else.

    But for the purposes of my message to you and from YOUR point of view  it really doesn’t matter which person in this picture is gone…

Look At The Picture Even Closer
    It’s human  nature…you’re wondering which one died, how, why,….
                    NOT IMPORTANT AT ALL
  When you look deeply at this picture what you’re REALLY seeing is…..
            YOU or YOUR LOVED ONE GONE! 
Listen to me very very carefully now…..

You think you’ll live forever …..YOU ARE SO WRONG!!! 

Sooner Or Later The Missing One Will Be YOU!!  
Now you MUST get this. Sooner or later…… 

YOU WILL BE THE MISSING ONE IN THE PICTURE 

And just like I’ll be doing later today, you’ll have friend sand family arriving at a memorial and at your house and sending flowers and cards and leaving casseroles and cakes and all the rest…..

  Just think of the horror show you’d inflict on your family WHEN you DIE (and you will you know!!!)AND YOU HAVEN’T MADE PLANS:…
==for your final expenses
==for income continuation for your family==no estate plan and your estate is in a shambles


AND THE VERY WORSE..  

  Your family has no money with you gone and all those people are throwing money in a hat to help pay for your funeral expenses……..and everything goes to hell and the sad truth is….it will be your fault!!!

Fix It Now While You Still Can
  You know what…No apologies. I’m purposefully trying
to get you to squirm and to feel what it would be like
for your family if you died unprepared……

CLICK HERE TO GET YOUR PLANS IN PLACE AND SEE HOW MUCH YOU QUALIFY FOR

Look at that picture one last time my friend……

Remember….
“Things don’t get better with neglect”…..well you know!!

Kevin Pritchett, Esq
Law Office of Kevin Pritchett
312-505-1957
ironkop@gmail.com
*licensed attorney; licensed life insurance agent
www.KevinPLaw.com
P.S.  Will you lose your home if you lose your job, become disabled or die?        

CLICK HERE TO GET PLANS IN PLACE RIGHT NOW BEFORE ITS TOO LATE
                        or
call to schedule your appointment
            312-505-1957

A Will Is NOT An Estate Plan!!

/0 Comments/in , , , , , , , , , , /by


Hey Attorney Kevin Pritchett here:

Probate Nightmare
True story…..
In a recent appointment, a client wanted my help with a Probate nightmare he had. Long, long story short, his mother left he and his sister a home..free and clear.

The brother, my client, was living in the home and paying all the expenses. And the brother and sister were in a dispute over all manner of issues.

The case was drowning in the bowels of Probate court and NEITHER brother or sister was going to get what they wanted in court….


Further, because of the way the house was titled (or more correctly IMPROPERLY TITLED..IN OTHER WORDS NO PROPER ESTATE PLAN AND THE HOUSE WAS LEFT TO BE DEALT WITH IN PROBATE COURT…) it was quite possible the legal title might be messed up from generation to generation!!! WHAT AN INCREDIBLE WASTE!!

A Will Does NOT Avoid Probate
Let’s just cut to the chase…a will DOES NOT…repeat…DOES NOT avoid probate!!


   A will is actually the roadmap that a probate court uses to distribute an estate.  With only a will your heirs are still required to suffer the
=delays
=costs
==public scrutiny and possible challenge
of Probate.

You CAN provide for your FINAL WISHES Smoothly and Privately
Don’t procrastinate on this….Things don’t get better with neglect…they get worse.
Talk soon


The Solution To Avoiding Probate  

The simple and effective way to avoid probate is to have a proper Estate Plan which consists of:
==a pour over Will
==Revocable Living Trust
==Power of Attorney For Health Care
==Power of Attorney For Property
==Quit Claim Deed of your Family Home Into Your Trus
==All Investment Properties In Entities or Land Trusts
(NOT   YOUR REVOCABLE TRUST!!!)

   With this Estate Plan your heirs can receive nearly all Estate Assets WITHOUT having to subject the estate to the delays, expense and scrutiny of Probate…SIMPLE AND EFFECTIVE.

   Yet WAY TOO MANY people mistakenly believe a Will alone will achieve the above…WRONG, WRONG, WRONG.
   Stop listening to ‘Uncle Melvin…or ” the guy next door’…..they’re dead wrong!!

Don’t procrastinate on this……

“Things don’t get better with neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.
312-505-1957 phone
ironkop@gmail.com