Living Trust Cost: Average Fees Explained

A revocable living trust is a legal arrangement you create while alive. You keep control of the assets inside it, you can change or cancel it, and a successor trustee takes over when you die or become unable to manage your affairs. People often choose one to keep assets out of probate, which is the court process that settles a will.

The document itself is only part of the work. A trust does nothing for an asset until the asset is retitled in the trust's name, so the full price usually includes some follow-up paperwork. This page lists published prices; consult a licensed attorney in your state about whether a trust suits you.

The two main routes differ by a wide margin, and the gap reflects what you get for the money.

An online or DIY trust runs $400 – $1,000. An attorney-prepared plan costs $1,500 – $4,000, and that price often bundles a pour-over will, powers of attorney, and a health care directive. Online services generally supply forms and instructions, while an attorney also advises on how the trust should be structured for your family.

LegalZoom publishes fixed prices for individuals and couples. Couples pay a little more because the trust covers two people.

For one person, the Basic Trust is $399 and the Premium Trust is $549. For a couple, the Basic Trust is $499 and the Premium Trust is $649. Package contents change over time, so read the current feature list before you buy.

Creating the trust is step one. Funding it means moving ownership of assets such as a house, bank accounts, or investments into the trust's name. A trust that is signed but never funded may leave those assets subject to probate anyway.

Recording a deed to move real estate into the trust is listed at $100 – $200 by SmartAsset. Local recording fees vary by county, and some places add transfer forms. Bank and brokerage accounts usually have their own retitling forms, which are normally free to request.

A will costs less but works differently. Here is how the two compare.

Revocable living trust

• Higher upfront cost and more paperwork to set up
• Can avoid probate for assets properly placed in the trust
• Gives a successor trustee authority if you become incapacitated
• Generally stays private, while a probated will becomes a public record

Will

• Lower cost and simple to prepare
• Assets pass through probate, which can take time and carry court costs
• Does nothing while you are alive
• Can still name guardians for minor children

Probate rules and costs differ by state, so the trade-off depends on where you live and what you own. A licensed estate attorney in your state can tell you whether a trust is worth the extra spending for your situation.

• Preparer. Software or a flat-fee service costs less than custom attorney drafting.
• Couple or individual. A joint trust usually costs more than a single one.
• Types of assets. Real estate, a business, or property in more than one state adds work.
• Special provisions. Trusts for minor children, a beneficiary with disabilities, or tax planning raise the price.
• Location. Attorney rates differ by city and state.
• Follow-up help. Some firms charge extra for deed preparation or funding assistance.

Sources publish different figures because they measure different things. One may count only the legal document, while another includes the attorney's full estate plan. Some include funding costs and others leave them out.

LegalZoom reports $400 – $4,000, a spread that covers both online and attorney routes. SmartAsset reports $1,000 – $4,000. Treat both as ranges, and get written quotes for your own case.

A revocable trust is meant to last, so think beyond the first invoice. Life changes such as a marriage, a new grandchild, or the purchase of another property may call for an amendment. Some attorneys include a short review period in their package, while others bill amendments separately. Ask about this before you sign, since the cheapest upfront option is not always the cheapest over twenty years.

• Is the fee flat, and does it include a pour-over will and powers of attorney?
• Does the price cover funding the trust, or only the document?
• Who pays the deed recording fee?
• What does it cost to amend the trust later?
• Does the service meet my state's rules for signing and notarizing?