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Article #497

INTERNET DIY LEGAL DOCUMENTS....ANY GOOD?

#497
From: lester
Date: Tue, 15 Nov 2005 21:44
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I just got through having Williamson County strip away my Homestead
Exemption and asses five years of back taxes because ten years ago I
paid a lawyer $5 grand to set up an entity to hold my assets (at my
death) for my daughter. He set up a Limited Partnership. Let's don't
debate whether or not a partnership can have a homestead exemption.
The tax hearing board is only interested in generating tax revenue,
not fairness. A Trust is OK for a HS exemption, a Partnership is not.

I already paid five thousand dollars for a Ltd. Partnership that costs
me way too much in annual costs (property taxes and an IRS return) and
is only of benefit when I'm dead. I'm ready to bury the Partnership,
but I already was fleeced once by a lawyer. And he wasn't the first
shoddy legal service I've paid for. I think it's the rule rather than
the exception.

When my Ltd. Partnership was set up, the lawyer just used a software
program with the pre-written document waiting for the appropriate
blanks to be filled in. He also knew the forms/filings for asset
transfer, pour-over will, power of attorney, etc., that went along
with the Partnership.

It seems to me like an internet legal document service could easily
provide the same boilerplate documents and guidance that I paid an
exorbitant fee for ten years ago. I want to set up a Living Trust,
transfer assets from the Partnership, and get my HS exemption back
without paying $$thousands more to another lawyer.

Are there any good do it yourself legal kits available on the
internet? I need one that provides details about transferring assets,
and other actions besides simply filling in the blanks on a document.

Thanks.
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From: lester@flatt.com
Newsgroups: austin.talk
Subject: INTERNET DIY LEGAL DOCUMENTS....ANY GOOD?
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