Four years ago a couple sat in the consultation, heard the number, and decided a trust was too expensive. Last year the wife came back alone. Her husband had developed dementia, quickly. What she needed then was a conservatorship, in court, which costs considerably more than the plan she declined.
Transcript
What I said in this clip, lightly edited for readability.
Remember, we are covering you as well, to avoid conservatorship, to make sure that there's somebody by your side, by your bed, able to make decisions for you if you become incapacitated. If not, then there's conservatorship.
I have a story to tell. I had a conservatorship in probate. A couple came to my office four years ago asking for a trust. We went through the consultation, and they decided not to proceed because it's too expensive.
Last year, only the wife came to my office, because her husband suddenly fell ill. He developed a sudden dementia, quick, like several months. There was nobody to talk to. And she, as a wife, a legal spouse, couldn't talk to doctors. She couldn't talk to insurance. She couldn't talk to facilities where he should be placed. And she came to me, and we had to file for conservatorship. And that is $10,000.
More on this topic: Conservatorships
More From the Seminar
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- An Unfunded Trust Is an Expensive Piece of Paper
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