Way to many variables to answer that one. In our area there are a group of Lawyers and life insurance pros that have grouped together to do just this kind of estate planning. Ou8r personal situation did not require additional purchase of life insurance but did require a change in how our land was titled and a very specific will with trust provisions. Our cost as I remember was about $700 for the total. We learned a lot by going to an estate planner specialist who knew the state and federal estate provisions. Don't waste your money with a general practitioner lawyer. See estate lawyer.
As far as the life insurance it is appropriate in cases where parents want to divide an estate equally among heirs but, don't want to see the farm sold out from any heirs that have an interest in holding on to it.
Our situation today makes me think that I should drop my life insurance and put the money towards disability insurance. wife does not need the extra life ins. but, i could forsee that their is a lot of risk if I were to be disabled for 3 or 4 months.
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Today's Featured Article - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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