What is the cost of setting up a trust?

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Bob Maloney, MSFS, AEP, MSFS, AEP

@napfabob • 06/07/16 This answer was first published on 06/07/16. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The cost can be all over the lot and will depend to a great extent on whether you're in an expensive metropolitan area or in a suburban area like myself. I've seen individual revocable trusts cost as little as $1,200 apiece up to $3,000 (one for each spouse). I was a quote in San Francisco for $15,000 for a single revocable trust. Believe me with another lawyer. One thing I would like to recommend is that the trust is typically somewhat complicated and you truly need a professional estate planning attorney to assist you. Don't draw down revocable trust of the Internet for $99. As enticing as this sounds, it could be a terrible mistake and an investment in a qualified attorney is worth its weight in gold. I hope this helps and good luck.

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