Gentreo is an online estate planning tool that allows you to create wills and other estate planning documents without the help of a lawyer. Gentreo’s $100 fee plus his $50 subscription fee is far less than what lawyers charge. Still, in addition to last wills and wills, we can prepare documents establishing revocable living trusts, powers of attorney, medical powers of attorney, and additional documents to provide and protect your pet. If you have any further questions about estate planning, her financial advisors can help.
Gentreo is a do-it-yourself estate planning tool that allows you to create legally valid documents used in estate planning without hiring a lawyer. Anyone can provide for the distribution of assets, care for beneficiaries, or other wishes for far less than a qualified attorney would charge. Get the job done in minutes without leaving your home.
To use the software, you answer a series of questions presented in an interview format. Name, amount and other information will be entered and transferred to the template. The resulting document is personalized and aligned with the local laws of each state.
Users can download and print the completed document. The software provides instructions on how to sign, notarize and submit them to make them official. Documents are also stored in your Digital Vault in the cloud, so they’re safe and easy to share with others.
Gentreo is sold as a subscription. The first year is $100. After that, you will be charged an annual subscription fee of $50.
If you are ready to be matched with a local advisor to help you reach your financial goals, get started now.
Gentreo users have access to all basic estate planning documents and some additional features. Below is a list of documents that Gentreo can help you prepare.
intention: The Gentreo template allows you to nominate property executors, gift specific property or cash to beneficiaries, and nominate guardians for minor children.
revocable living trust: This document allows assets to be transferred to beneficiaries while avoiding the time-consuming and costly process of probate.
Financial Power of Attorney: Use this to specify the name of the person who can make financial decisions on your behalf if you are unable to make them.
healthcare proxy: Called a medical power of attorney in some states, you use this document to designate someone to make medical decisions for you if you become incapacitated.
living will: A Living allows you to specify the type of medical care and care you will receive if you become terminally ill.
pet trust: Trusts can also be used to provide for pets after you pass away.
pet power of attorney: This designates someone who will make decisions for your pet after you are gone.
Gentreo’s built-in documentation is suitable for most estate planning and similar to those included in other do-it-yourself estate planning tools. You don’t need to use this tool or any other tool. Some of these documents, such as last wills and last wills, can be drawn up with no expense or equipment other than pen and paper. People also use free downloadable fill-in-the-blank templates to prepare their estate planning documents.
Many properties do not require all these documents. However, Genreo does not sell them separately. But one of the benefits of this approach is that the company keeps track of changes in state laws and requirements and keeps its forms up to date.
Features of Gentleo
Gentreo’s user interface is simple, clean and easy to use. The question and answer format is clearly presented and uncomplicated. It can be used on a small screen, but there is no smartphone app. A user is likely to be able to create a will in 30 minutes or less, and other documents can be created just as quickly. The company offers clear instructions and a resource center with details about the property planning process.
As a standardized tool, Gentreo’s limited number of options means it’s not as flexible as working with a lawyer. However, it can accommodate most real estate planning situations that are likely to arise. For example, users can name guardians as well as specify backups for those guardians in case the first choice is not available.
For users who require human assistance, Gentreo offers a limited amount of chat support with coaches as part of the subscription. Users can also get support by phone or email. Also, if someone wants to consult a licensed attorney, the company will refer them to affiliated attorneys who charge a discounted rate.
Online storage makes it easy to share documents with others while providing protection against loss. Planners can also access uploaded documents and update or change them at any time. Users can also download and print documents as soon as they are completed, so they can prepare for signatures and keep a copy at home.
Gentreo costs are similar to other real estate planning consumer tools. He can claim a full refund within 7 days of purchase. After that, the annual fee will be charged after one year unless you cancel. Canceling deletes the document in your Digital Vault.
Gentreo is a good option for those planning a real estate as complex as most. It is less suitable for those with special needs or who have a large enough estate to incur estate taxes. Additional features include an online vault for storing and sharing documents and special support for pet-related property planning tasks.
real estate planning tips
With the help of a financial advisor, planning your real estate can go smoother and faster. SmartAsset free tools will match you with up to 3 vetted financial advisors who serve your area. You can interview Advisor Matching for free to determine which advisor is right for you.Ready to find an advisor who can help you reach your financial goals?get started now.
Federal estate taxes are levied only on properties valued at more than $12.92 million. It is revised upward each year to reflect inflation. Tax applies only to the portion of the property beyond this floor. The tax rate depends on the amount taxed and ranges from 18% to 40%.
Photo credit: ©iStock.com/shapecharge, ©iStock.com/Georgeijevic, ©iStock.com/Tina Zupancic
The Gentreo Review post was first published on the SmartAsset blog.