FAQs
An overview of frequently asked questions regarding our practice areas and client engagement.
Below are answers to some of the most frequently asked questions at Grace Law PLLC.
These FAQs are intended to provide general guidance about our legal services, processes, and fees.
However, if your question is not addressed here or you require additional information, please contact our office. Our team will be pleased to assist you with any questions or concerns.
Securities Law FAQs
The cost of a Rule 144 or Section 4(a)(1) opinion letter depends on the complexity of the transaction.
- Starting price: $195 (for an amendment-available only if I wrote the first one, and even then, only if specific criteria are met)
- Typical cost: $295 for a standard relatively simple, single-transaction 144 letter stemming from a project with no assignments, conversions, or splits where the documentation demonstrates clear ownership and consistent names, amounts, and dates and where stock was issued by a reporting company that has three 10-Qs and a 10-K on file with the SEC. Prices do go up from there.
Final pricing may vary based on:
- Number of transactions involved
- Whether the issuing company is reporting or non-reporting
- Any assignments, conversions, or splits
- Volume and clarity of documents provided
- Whether dates, numbers, and facts align
- Presence of complex legal or factual issues
- Whether a prior letter was prepared for the same shares or documents
- Whether the shareholder is an affiliate or not
- If the letter is a Rule 144 letter or a Section 4(a)(1) letter, and if 4(a)(1), facts regarding issuer, dealer, underwriter, and distribution status, and the holding period.
To provide an accurate quote or estimate, all relevant documentation must be reviewed in advance.
Required documentation depends on how the shares were acquired, but most cases require documents from the following three categories:
1. Account statement or stock certificate
Transfer agent account statement showing:
Issuer name
Shareholder
Stock transfer
- Agent name
2. Transaction agreement(s)
Examples include:
Subscription agreement (direct purchase from issuer)
Stock purchase agreement (third-party purchase)
Convertible promissory note and notice of conversion
Employment or independent contractor agreement
Share exchange or company buyout agreement
3. Proof of consideration (payment or services)
This is critical because it usually determines when the holding period begins:
Proof of payment for purchased shares
Dates and description of services performed
Loan date for converted notes
Effective date of a company buyout
Additional documents may be used if necessary, including but not limited to board consent, issuant resolutions, company reports, affidavits, or other internal corporate records.
Standard turnaround: 3–5 business days
Timing may depend on:
- Completeness and organization of documentation
- Complexity of the securities transaction
- Volume of projects already in progress
- Scheduling constraints
- Your availability to respond to follow-up questions
Expedited services are available:
- 24-hour turnaround: Triple the normal rate
- 48-hour turnaround: Double the normal rate
The required holding period depends on the issuing company’s reporting status, the number type and date(s) of reports the company filed; the shareholder's status (if affiliate, issuer, dealer, underwriter); and if the transaction at issue was a distribution). Under the best of circumstances, the holding period is six (6) months to a year. There are also circumstances where a two (2) year hold is required. And sometimes it does not matter how long the holding period is or was.
Estate Planning FAQs
The cost of an estate plan varies based on your specific needs and typically ranges from $500 to $5,000.
Pricing may depend on:
Whether your plan includes a will or a trust
Type and number of trusts, if applicable
Whether you have minor children
Need for specialized deeds, such as a quitclaim deed or enhanced life estate deed
If the primary document is a will, a standard estate plan generally includes:
Last Will and Testament
Durable Power of Attorney
Designation of Health Care Surrogate
Living Will
Alzheimer’s or Dementia directive
Pre-Need Guardian designation
HIPAA authorization
Final disposition instructions
Personal property distribution worksheet
If minor children are involved, additional documents may include:
Stand-alone guardianship document
Power of Attorney for minor children
Health care surrogate designation for minor children
If the primary document is a trust, the estate plan includes all of the above plus one or more trusts, based on your goals.
Fastest possible: About 1 week (rare and highly situational)
Typical timeline: 1–2 months
A standard estate planning process includes:
Completing the Estate Planning Worksheet
Scheduling and holding the Planning Session
Drafting the estate planning documents
Signing documents with a notary and witnesses
Final delivery of the completed estate plan
Each step typically takes one to two weeks.
Technically, you don't need a will or a trust; however, your beneficiaries will greatly benefit from your having one.
Every adult should have:
A Durable Power of Attorney
A Designation of Health Care Surrogate
A Living Will
Whether a will or trust is best depends on:
The type and value of your assets
The age and needs of your beneficiaries
These options can be reviewed during your planning session to determine the best structure for your family.
A completed Estate Planning Worksheet
At least three available dates and times to schedule your Planning Session