How Much Does A Trust Cost (With and Without an Attorney)

If you are considering whether to include a Living Trust in your estate plan, you are probably wondering how much does a trust cost? In real terms, a Trust can be quite complex and the cost of a Trust varies widely. Creating a Trust doesn’t have to be expensive. There are some very affordable options.

To learn more about Trusts generally, click the button below.

A Trust us is generally more expensive than a Will, but less expensive in the long run if you factor in the cost of a probate. You don’t always get what you pay for when it comes to the cost of a Trust, so choose your source carefully.

How much does a lawyer charge for a trust?

A lawyer’s charge for a Trust will usually be more expensive than the cost of an Online Trust. This is because attorney fees are usually a function of attorney time. Just a few hours of attorney time can get quite expensive.

You shouldn’t need an attorney unless you have advanced estate planning needs. If you elect to hire an attorney, just make sure to select an attorney who specializes in Trust planning.

An experienced estate planning attorney will usually charge several thousand dollars for a Trust. At that price point, you should expect a very comprehensive and well-tailored document. A simple Trust from an attorney may be cheaper, but you don’t need an attorney for a basic Trust with GeauxPlans.

How much does a Trust cost online?

GeauxPlans offers a hybrid approach to basic estate planning. You get the best of both worlds because every GeauxPlans user is entitled to a complimentary consultation with an estate planning attorney to ensure each GeauxPlan serves its purpose for basic estate planning needs.

The cost of an Online Trust can be quite affordable. An Online Trust from the right platform should be more than sufficient for basic estate planning needs. The cost of a living trust from GeauxPlans starts at $399.00, which includes a LOT more than just a living trust.

The cost of a Living Trust may vary with the size of your estate

Larger estates tend to be more complex than smaller ones. A large estate that exceeds the current threshold for Federal estate taxes ($12.06 Million per person in 2022) will require advanced estate planning techniques. Trusts are useful tools for Federal estate tax planning. The cost of a Living Trust utilized for Advanced Estate Planning needs for larger estates will usually approach several thousand dollars.

The number of beneficiaries may affect the price of a Trust

The price of a Trust may be higher for someone planning to pass down assets to many beneficiaries. Multiple beneficiaries can add complexity to an estate plan, so they are often not as straightforward compared to an estate plan where a person names only one beneficiary.

This is especially true if separate share trusts are to be created for beneficiaries, rather than outright distributions. An outright distribution to a beneficiary would be owned directly by the beneficiary free of Trust. Distributions to a beneficiary to be further held in Trust will generally increase the living trust cost if it requires special drafting and the creation of additional trusts.

You can create separate share trusts for beneficiaries with GeauxPlans for no additional cost.

The lawyer charge for a trust will depend on the type of trust

Trusts are like ice cream. There are a million different flavors. If you think about it, a Trust is just a combination of words, so as many different combinations of words as there can be in any given language, that’s how many kinds of Trusts that may exist.

In a much broader sense, there are really only two kinds of trust: (1) Testamentary; and (2) Living. There are two kinds of Living Trusts: (1) Revocable; and (2) Irrevocable. Underneath these broad categories, there are an infinite number of variables. To learn more about Trusts, click the button below.

The bottom line is that Trusts can be relatively simple, or complex. A simple Trust is generally less expensive than a more complex Trust for special needs or circumstances. Before you choose a trust, start with the end. Consider what you are trying to accomplish. Then pick the right tool for the right job.

The cost of a trust will increase if you have a complex estate plan

Not every situation is simple. Advanced estate planning needs may require the help of an attorney to assess needs and customize your estate planning documents.

GeauxPlans offers a unique approach to Advanced Estate Planning needs with the Legal Edge Plan. With our hybrid approach to estate planning, start with a basic estate plan, then assess your needs with a complimentary consultation with an estate planning attorney. If it turns out that you have Advanced Estate Planning needs, GeauxPlans provides a 100% credit of your GeauxPlans fee towards a more advanced estate plan with an affiliated estate planning attorney. So there is zero risk.

If you have advanced estate planning needs, GeauxPlans has your back!

A living trust cost should match the benefits

A Trust is like a car. The purpose of a car is to get you from one place to another. A luxury car will get you there in style, but a basic vehicle will still accomplish the task.

Estate planning is not about style. It’s about functionality.

A basic living trust may be all that you need. The living trust cost should match the benefits to you. If you don’t need more than a basic Trust-Based Estate Plan from GeauxPlans, then don’t pay more than necessary for a Trust-Based Estate Plan.

If you have any questions about the cost of a Trust, or what you can do to mitigate the price of a Trust, reach out to our support team who stand ready to assist you.