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How much is a reasonable fee to pay for setting up basic asset protection?

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  • How much is a reasonable fee to pay for setting up basic asset protection?

    I am shopping for a basic asset protection plan customized for our situation with the help of a lawyer with expertise in this area. Just want to do some basics, like make sure our brokerage account, home, 2nd home, private medical practice, are protected as much as possible, nothing extensive or fancy. How much should this cost? Thanks WCI!!!

  • #2
    I would like to know this as well. RhinoSurgeon where did you go to find your lawyer? I need to get some of this stuff going soon.


    • #3
      The new WCI book is pretty cheap


      • #4
        I’m on my third go-round for basic irrevocable trusts , wills, powers of attorney, etc.I’ve paid $3000-3500 25-30 years ago, $2800 done just last year by a Sarasota attorney specializing only in trusts. I think billing is directly related to the weight of the paper and bindings. My original was much thicker


        • #5
          Start with my book. Then decide what you want. In my view "basic" asset protection is practically free. It's malpractice and personal liability insurance, titling your home and possibly investment accounts as tenants by the entirety if your state allows, learning your state asset protection laws, maxing out your retirement accounts, and putting your rental properties into LLCs. If you want more than that (i.e. trusts etc) then you start paying real money.

          Estate planning is related but separate.
          Helping those who wear the white coat get a fair shake on Wall Street since 2011


          • #6
            I think we paid $2-3k for trusts, will, poa, ect.


            • #7
              Thank you for the very helpful advice!