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Wills & Trusts

 
tropicgirl
(@tropicgirl)
Active Member

Can you create Wills & Trusts without using a lawyer? I am on STT , and was quoted $4,000. Does anyone have any input or experience with doing this?

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Topic starter Posted : April 10, 2013 5:24 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

I've created my own trust before... here's a service for you:

www.legalzoom.com/living-trusts/living-trusts-overview.html

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Posted : April 10, 2013 5:26 pm
tropicgirl
(@tropicgirl)
Active Member

Legal Zoom does not have VI in the pull down menu.

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Topic starter Posted : April 10, 2013 5:47 pm
Jim Dandy
(@jim_dandy)
Trusted Member

When I had a trust created for use down here we used Michigan law to be the controlling jurisdiction. They have some of the more progressive laws covering trusts and probate according to my attorney.

I am a full time resident in the VI and haven't resided in Michigan since 1969.

In the past you did not want your probate to be handled in the VI as it could take ten years or more for a final settlement.

I don't know if they ever changed the law in the USVI. They were talking about it.

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Posted : April 10, 2013 6:23 pm
Alana33
(@alana33)
Expert

If you have a trust in the VI you do not have to go thru probate which is why a trust is a good thing to have.
In the past probate could take an extraordinarily long time (talking years and years, up to 8- 10 in some cases.)
They changed to laws recently, to fast track probates on wills but don't know if it still takes an extraordinary amount of time.

I would not trust a website and myself to draw up such an important doc. tho my atty. only chaged me 1/2 what you quoted.
That was a few years ago so prices may have gone up but call around. PM me and I'll send you my attorney's name and contact.
I am very happy with him.

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Posted : April 10, 2013 7:34 pm
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