Law Office of Eric Holk

Certified Specialist in Estate Planning, Trust & Probate Law
The State Bar of California Board of Legal Specialization

2801 Monterey-Salinas Highway, Suite K
Monterey, CA 93940
Phone: 831-622-8808
Fax: 831-655-3660

With over 25 years of experience and well over a thousand satisfied clients, Eric has established himself as a premier estate planning attorney in the Monterey peninsula area. Below, you will find brief information about the services we perform. If you are unclear on what each service is, we provide links to more information regarding each topic. Please note that, while we have found the outside linked pages to be helpful and informative, we cannot guarantee their accuracy. Also, all pricing information is subject to change without notice or update.

Estate Planning Services

Trust

What is it?
Generally speaking, a trust is a legal entity that is set up in order to manage assets or affairs for some person or persons. There are many different types and setups of trusts. Eric is experienced at working with his clients to determine the best form of trust to meet their needs, both now and in the future.

Why would I want it?
The primary use of a trust in Eric Holk's practice is to avoid probate on the death of one or more grantor. See "Probate" in the Estate Administration column to the right for more information about probate.

How much will it cost?
Eric generally assembles trusts at a flat price, which depends on each situation. Standard prices range from $1400 to $3200.

Click here for more information on trusts.

Will

What is it?
A will is a legal document in which an individual dictates how she or he desires for an estate to be disposed.

Why would I want it?
For a person with a small estate or who has little concern about the exact details of how his or her estate is distributed, a standalone will might be appropriate. Also, a "pourover will" is a standard part of a individual or couple's trust package; in this case the will covers any remainder of the estate not included in the trust.

How much will it cost?
If a will is included with a trust package, then there is no additional cost. If a standalone will is created, then the price will be $595 for a single person or $895 for a couple. These prices include DPAs and AHCDs (see below for info). 

Click here for more information on wills.

Durable Power of Attorney

What is it?
Durable power of attorney (or, more generally, power of attorney) is a documented instance of one person granting the power of representation to another in some designated circumstance. Eric's practice commonly involves two types of DPAs: one for health care, and another for financial decisions.

Why would I want it?
DPAs provide you the opportunity to designate certain people who will act in your best interest in the event that you are incapacitated, as well as alternates to those first choices. 

How much will it cost?
If done as part of a trust or will package, a DPA is no extra cost. If done separately, the creation of a DPA will be charged at an hourly rate of $300.

Click here for more information on DPAs.

Advance Health Care Directive

What is it?
An advance health care directive (AHCD) allows an individual to articulate his or her desires regarding specific health decisions and post-mortem disposition.

Why would I want it?
An AHCD is essential for any person who desires assurance that her or his health care (or post-mortem) decisions will be made according to her or his wishes in the event of incapacity.

How much will it cost?
If done as part of a trust or will package, an AHCD is no extra cost. If done separately, the creation of an AHCD will be charged at an hourly rate of $300.

Click here for more information on AHCDs.

Estate Administration Services

Probate

What is it?
Probate can happen in a variety of situations, but most often occurs when a person dies with more than $150,000 (cash or otherwise) in his or her estate and no trust. Keep in mind that the dollar amount for probate is determined before any debts are repaid, so, for instance, the value of a home is not reduced by the mortgage on it for the purposes of probate.

Why would I want it?
Actually, this is a service that Eric provides that you don't want to use. Probate is a messy, prolonged process that can go on for years and take away upwards of 10% of the value of the estate. Eric prefers to set up a trust for his clients to avoid probate, but our office is equipped to probate estates as needed.

How much will it cost?
Probate fees are set by statute according to the size of the estate, but they can be higher than the statutory limits due to extraordinary circumstances, or they can be lower by the discretion of the executor and the attorney.

Trustee Services

What is it?
A trustee is a person who administers a trust. If a trust is set up to distribute all the assets within itself upon the death of the person who set it up, then the trustee will use the assets to pay estate taxes, clear up remaining debts, and distribute the remainder to the heirs.

Why would I want it?
Like any legal process, settling an estate as a trustee requires a certain body of knowledge that is not readily available to a layperson. We can help advise and consult your trustee in the process so that you have the combination of a close, trusted person in your trustee and expert legal advice in us.

How much will it cost?
Consultation for trustees falls under our standard billing rate of $300 per hour, but certain situations may be handled differently.

2801 Monterey-Salinas Highway, Suite K
Monterey, CA 93940
ph: 831-622-8808
fax: 831-655-3660
office@trusts-etc.com

Information is copyrighted by Eric N. Holk, 2017.

No information on this website shall be construed as legal counsel.
If you need legal advice, please contact Mr. Holk or another qualified attorney.
See full disclaimer here.