"However, it took me 18 months and 900 hours to complete, which is an average amount of time for a simple estate. Having a trust or a will is only one part of the puzzle Most people don't have wills. And it's not based on socioeconomic status; people just forget to do it. Even if you have a well-formed trust, many people don't update it."
"Estate settlement is as important as estate planning Most people don't even know the phrase "estate settlement." People's minds go directly to planning. Many people are unaware that we're authoring the first Wikipedia entry about it. Most people don't know how time-consuming a settlement is or how expensive. It takes an average family $30,000 to settle an estate. I think that's surprising because everyone talk"
A neighbor named Carol welcomed the family when they moved to Minnesota, and her daughter Katie remains a lifelong friend. Carol died, leaving a freezer-door to-do list of estate settlement tasks that a friend offered to complete. Completing those tasks required 900 hours over 18 months, an average amount of time for a simple estate. Many people lack wills or fail to update trusts, and trusts require active follow-through. Estate settlement is time-consuming and costly, averaging about $30,000 for a family, leading to the creation of a company, Alix, to help with settlement tasks.
Read at Business Insider
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