How Much Should A Revocable Living Trust Cost?

Thinking about setting up a revocable living trust? You’re not alone. Many people consider this estate planning tool to protect their assets and simplify the inheritance process for their loved ones. But one question often comes to mind: how much should it cost?

The price of creating a revocable living trust can vary widely depending on several factors. There are websites that will help you do it yourself for around $100. A legal document service like Laguna Legal will handle your living trust creation for $950 for a single person or $1,500 for a married couple, plus $600 per property transferred into your trust. A living trust attorney will typically cost anywhere from $3,000 to $10,000.

It’s worth noting that while this might seem like a significant investment, it can potentially save your heirs thousands in probate costs and legal fees down the line. Plus, the peace of mind of knowing your assets are protected and your wishes will be carried out is truly priceless. We’ll explore the factors that influence the cost and why it might be a worthwhile investment for your future.

Factors Influencing Trust Cost

The cost of a revocable living trust can vary widely based on several key factors. These include the complexity of your wishes, the fees charged by legal professionals, and various additional expenses that may arise during the process.

Complexity of Your Wishes

The intricacy of your wishes can play a significant role in determining trust costs. A simple estate with few assets might result in a basic trust costing $950 to $2,150 with Laguna Legal, or maybe $10,000 with an attorney. 

Professional Fees

Attorney fees often make up a substantial portion of trust costs. The average fee for creating a revocable living trust ranges from $1,500 to $3,000 nationwide, although it is usually much higher in California where costs can escalate to $5,000 to $10,000 or more. 

These fees often reflect the lawyer’s experience and expertise. Some attorneys charge flat fees, while others bill hourly. To avoid high attorney fees, our team at Laguna Legal would of course love to help you!

Additional Costs

Beyond attorney fees, several other expenses can impact the total cost of your trust. These may include:

• Notary and Witness fees
• Recording fees for property transfers
• Appraisal costs for valuable assets
• Fees for updating beneficiary designations

Reducing Trust Costs

Creating a revocable living trust doesn’t have to break the bank. There are several strategies to keep costs down while still establishing a solid estate plan. Let’s explore some cost-effective options for setting up your trust.

Do-It-Yourself Options

We do not recommend this option.  However, if you choose the DIY route, we highly recommend thoroughly researching and understanding trust laws and the ramifications of property tax reassessment before going this route. Mistakes can be very costly to fix later.  

Work With A Revocable Trust Attorney

While pricier upfront, hiring an attorney can save money long-term. Lawyers ensure your trust is legally sound and tailored to your specific situation. Shop around for competitive rates. Many attorneys offer free initial consultations. Ask about flat fees vs. hourly rates. Make sure the attorney you work with is familiar with how to avoid property tax reassessment when transferring your property(ies) into the trust.

Work With Laguna Legal

At Laguna Legal, we strive to provide high-quality trust services at reasonable rates. Our team of experienced legal document service providers specializes in estate planning.

We offer transparent pricing and flexible payment options. Our packages start at $950 for single people and $1,500 for married couples, plus $600 per property transferred.   Our prices include Notization and Witnessing of all documents in our office.

Unlike DIY options, we provide personalized guidance and ongoing support. We’ll help you avoid costly mistakes and ensure your trust meets all legal requirements.  We also specialize in making sure your property taxes don’t get reassessed as a result of the real estate transfers, which is very important to anyone who has owned their property for many years.

Unlike attorneys, we have set fees that are a lot lower than what most attorneys charge. We handle trust creation on a regular basis and our team are experts at handling them.

Contact us today to get started creating your trust!