Estate planning billing, at Lauren Jackson Law

Estate planning billing, at Lauren Jackson Law

When clients come to me for Estate Planning, one of their biggest concerns is what is it going to cost? Most attorneys will be very vague about their billing processes and one of the more popular complaints from clients is when they get their bill and they are shocked by the total amount due. Here, we are committed to providing our clients with excellent service and benefits. One of our benefits that distinguish us from other law firms in the area, is our base rate billing. After we meet and have our initial consultation, I will tell you the total cost of what your estate plan will cost to be completed.  My clients love that there will be no surprises when the monthly bill comes. For the last two years since I have started this policy, my clients have loved this practice. When it comes to billing, nobody likes surprises. What goes into the price quote? Two meetings One initial consultation One meeting for explanation of all documents and document signing A third party witness and notary will be provided All telephone calls All email communications Any research needed All original signed copies of documents Plus all documents will be emailed to you in electronic PDF form Along with time involved and materials, you have to think about the real value value that you are getting from a properly executed Illinois estate plan. There is no point to pay money and draft an estate plan if it is not properly executed with the right witnesses, notarized signatures, and all necessary forms. I have seen and fixed many errors over...
Top Five Provisions to check before signing a Real Estate Contract!!!

Top Five Provisions to check before signing a Real Estate Contract!!!

When the time comes for you to sell your home it may seem like a very daunting process. If you are using a realtor, he or she should have the contract properly filled out before you sign anything (if you are not using a realtor, I can make sure the contract is filled out correctly for you). However, the contract is a 13 page document that you have never seen before and with which you are not familiar. What should you check before signing it? Below are the top five provisions you should review before signing your real estate contract: FIVE PROVISIONS TO CHECK BEFORE SIGNING A CONTRACT Purchase price Personal property to be transferred Real estate tax proration Plat of survey inspections Closing cost credits, if any If you review those five specific provisions and all five of them seem correct, you are safe to go ahead and sign the contract. If the seller accepts it by signing it, forward the fully signed contract to your real estate attorney as quickly as possible. There is a short time period during which your attorney can propose changes to any of the provisions that may be incorrect in the contract. This is called the attorney review period. Don’t worry if you feel this is too daunting a process to handle yourself, let us become the law firm that you know, like, and trust by handling it for you. Your time is just as important as mine, that is why all meetings are by appointment only at either one of my convenient office locations: 200 West Main Street, St. Charles, Illinois...
What does a Donald Trump presidency mean for Estate Planning?

What does a Donald Trump presidency mean for Estate Planning?

Following the election of Republican candidate Donald Trump as well as the GOP’s retainment of a Congressional majority, significant tax reform has a distinctly higher probability of occurring now than it had under previous administrations. This is largely due to Donald Trump’s tax plan being substantially in agreement with the Tax Reform Tax Force Blueprint proposed by Republicans; both intend to have the alternate minimum tax eliminated, repeal the current estate tax, reduce & simplify income tax brackets, and lower taxes on businesses. Alternatively, Republicans could propose a budget reconciliation bill as a more stable solution, but since it necessitates an approved budget that is unlikely due to its inefficiency. Trump’s administration is also anticipated to affect a small number of regulatory initiatives, the two most prominent being the regulations regarding consistent basis reporting and the proposed regulations under Section 2704 of the Internal Revenue Code. The first of these regulations was announced by the IRS on March 4, 2016; this regulation would be administered in order to guarantee “a recipient’s basis in certain property acquired from a decedent be consistent with the value of the property as finally determined for Federal estate tax purposes.” The second was published by the Treasury Department on August 4, 2016, which proposed intricate regulations on valuation discounts for family-owned businesses under 2704; these regulations were deemed by the vast majority to be beyond the Treasury’s authoritative reach, as well as potential threat to family-owned businesses. These proposed regulations are intertwined with the federal estate tax; in the event that the estate tax is repealed, these regulations will no longer be applicable. With...