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NOTARY NEWSLETTER, AUGUST, 2017 vol. 2, no. 8

 

 

WHAT'S NEW THIS MONTH CHECK OUT OUR TWO 2018 AUDIO SEMINARS FOR NOTARIES. CALL US AT THE NUMBER GIVEN

 

 

WHAT'S NEW THIS MONTH

 

CHECK OUT OUR TWO 2018 AUDIO SEMINARS FOR NOTARIES. CALL US AT THE NUMBER GIVEN BELOW,


You can still order the 2017 and the 2018 Recent Developments in the Law For Notaries seminars for $100. OR, IF YOU PREFER, we are offering ANY two seminars which are listed on our website for $100. TODAY IS THE LAST DAY AT THAT PRICE.

 

HAVE YOU THOUGHT ABOUT THE ETHICAL CONSIDERATIONS THAT INFLUENCE THE FEES WE CHARGE AS NOTARIES?

 

Perhaps the most common question that all notaries ask me, even those who have been practicing for a number of years, is "How do I know what to charge a customer for the notary work I did?"


Years ago, there were published schedules that notaries were obliged to follow in charging for their work. Those schedules were repealed so many years ago that they are no longer instructive as to pricing. The general rule which you may remember from notary school was simply "whatever is reasonable under the circumstances." Even that is quite amorphous, so here is a list of what most jurisdictions follow in determining the reasonableness of a notary fee.

 

What is the notary's relationship to the client, taking into consideration both the nature of the relationship and the length of time that it has existed?

 

  • Did the notary have to turn down other work because of the time consuming nature of this engagement?

  • Was there a novel issue involved which required research or increased risk to the notary?

  • What was the total amount of time involved in completing the task?

  • What amount of money is typically charged by other notaries in the same community for similar work?

  • Did the job involve a particular skill set which the notary possesses?

  • Does the notary have expertise in a particular field that he/she practices in?

  • What was the amount of money involved? An act which involves more money often means greater risk to the notary.

  • What were the results achieved by the notary?

  • Is the notary being paid contemporaneously with the work, or does he/she have to wait to be paid?

  • Obviously, not every one of the above are involved in each case we take on. In the end, when you consider the relevant inquiries above, do you feel that the fee is reasonable? I hope this helps.

 

QUIZ

Suppose you are setting up a business corporation for a client. The articles of incorporation do not have to be in authentic form. They may be done by private act duly acknowledged. Are there any restrictions placed on who may sign the acknowledgement.

1. If the articles were witnessed, either witness may sign before the notary to acknowledge.
2. Either a witness, or an incorporator may sign the acknowledgement.
3. All incorporators, if there is more than one, must sign the acknowledgement in person.
4. An incorporator, or her/his agent under a valid mandate, must sign the acknowledgement.
**SEE BELOW FOR THE ANSWER

 

DO YOU WORK IN THE AREA OF ESTABLISHING INTER VIVOS TRUSTS?

One of the most forgotten issues that confront notaries who work with clients to set up an inter vivos trust is insurance. As you probably know, a common reason for setting up a trust is to avoid probate. To that end, the settlor of a trust often wants to title real estate into the hands of the trustee after the trust is established.
If you are doing so, don't forget to make sure that the homeowner's insurance on the property will still cover losses. There are some insurers who refuse to cover the property if placed in trust, but most will do so. It is not automatic, however. It may be that the insurer will name the trust (really the trustee in that capacity) as an additional insured, and the problem is solved. It may also be possible that a new policy of insurance is required. Not all insurers insure property held in trust. Failure of the notary to be certain that the real property remains insured can be catastophic to both the homeowner and the notary.

 

YOU MAY BE IN THE MARKET FOR A TRUST OR TESTAMENT FOR YOURSELF OR A FAMILY MEMBER. PERHAPS YOU HAVE A CLIENT WHO NEEDS THESE SERVICES BUT YOU DO NOT PROVIDE THEM.

I work with numerous people who need some assistance with estate planning. For a limited time, the following services are being offered at the costs listed below. If you or someone you know would like to discuss the need for any of these things, call me at any time at the number below. Thank you.

 

  • Revocable Inter Vivos Trust ( a Living Trust) $600.00

  • Testament (a Will) $200.00

  • Testament containing a Trust (Testamentary Trust) $400.00

  • Durable Power of Attorney $100.00 ( no cost if done with any type of trust)

  • Health Care Power of Attorney $100.00 (no cost if done with any type of trust)

  • Living Will ("Pull the Plug" directive) no charge

  • Pour over will (when done in connection with a living trust) no charge

 

There's no cost to you for a consultation on whether a will or trust may be the right thing for you. Perhaps you already have a will or trust, but its been a while since it was reviewed by a lawyer. We can make arrangements to see or speak with you the same day you call. I think you will be amazed at how fast and inexpensively you can gain the peace of mind that your loved ones will be protected if you die or become incapacitated. We work long after 5pm, so you don't have to take time away from your work to talk to us.

 

It is not necessary to travel to Baton Rouge to complete your documents if you live out of town.

The above costs do not include recordation at the courthouse, if that is necessary.

 

We hope you have enjoyed this month's newsletter. Call or email with any comments or questions. dan@statewidenotaryedu.com, 225-761-1354

 

 

THE ANSWER TO THE QUIZ ABOVE IS 4.

 

CONTACT US

 

Dan D. Schaneville
Statewide Notary Education, LLC
dan@statewidenotaryedu.com
2842 Valcour Aime Ave.
Baton Rouge, LA 70820
225-761-1354 (Office)

Quality Education to:
* Develop Skills
* Improve Your Service
* Expand Your Practice

 

Kind regards,
Your Team at Statewide Notary Education, LLC

©2017 Statewide Notary Education, LLC | 2842 Valcour Aime Ave., Baton Rouge, LA 70820

 

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