Is a living trust expensive?
When compared with the cost of probate and potential federal estate taxes, it is very inexpensive. The cost will depend upon the complexity of your estate, the amount of your assets, and whether or not you need estate tax planning. For single individuals, a Living Trust estate plan can range from approximately $1,500.00 to $2,000.00 for a comprehensive plan. For married couples, the comprehensive plan can range $2,000.00 to $3,500.00. There is no fee charged for an initial consultation and an estimate of the fee for your estate plan will be given to you at this meeting.
The cost of a Living Trust will vary, just as the cost of anything else varies. However, when compared to the costs of probate the expense of a Living Trust is extremely reasonable and even economical. Who should write my Living Trust? Anyone can write a Living Trust. However, we highly recommend an attorney who is experienced in estate planning write a Living Trust. An experienced estate planning attorney can provide valuable guidance for your individual situation. A trust is a legal document, and you will want expert advice to ensure that the document is appropriate for your situation, and conforms to current law. Avoid “do-it- yourself” kits and form books. I have a Living Trust, do I still need a Will? A Living Trust is only one part of a complete estate plan. You should have a pour-over Will, which “catches” any property you might have overlooked in funding your trust, and places the property in your trust at your death. This ensures that your plan of distribution is followed, eve
Not when compared to the costs of probate (probate cost chart). How much you pay will depend on how complicated your plan is, type and amount of your assets, if you need additional tax planning, etc. We work with you to determine your specific needs and advise you in advance of all fees associated with your estate planning.
No! Especially when compared to the costs of probate. How much you pay will depend on how complicated your plan is; the type and amount of your assets; and if you need additional tax planning, etc. Be sure to ask for an estimate in advance. Once your trust document is complete we will be happy to review it with you at no cost.
