Last words from our Executive Trustee, Scott Conkel
Here is your chance to purchase your trust and begin you journey towards financial security and freedom.
When it comes to setting up a trust, the cost can vary widely based on a number of factors, including the complexity of your estate, the type of trust you want to set up (such as a revocable living trust, an irrevocable trust, a special needs trust, etc.), your geographic location, and the rates of the attorney or professional you hire to assist in setting up the trust.
Typically, you might expect to pay anywhere from a few hundred dollars for a simple trust to several thousand dollars for more complex estate planning involving multiple types of trusts and estate planning measures. Some key costs include:
- Attorney fees for drafting and executing the trust
- Notary fees
- Fees for re-titling assets to fund the trust, if necessary
- Possible ongoing management fees if you appoint a financial institution or trust company as the trustee.
- Costs associated with maintaining the trust, which can include tax preparation fees, investment management fees, and administrative expenses.
For a specific and accurate cost estimate, consult with a local estate planning attorney or a financial advisor who can provide guidance based on your individual situation.