Cost of Setting Up Trust Fund
"The Cost of Establishing a Trust"
If you are considering setting up a trust, you may be wondering how much it will cost. The answer is that it depends on a number of factors, including the type of trust you want to create, the assets you want to place in the trust, and the complexity of your financial situation.
In general, the cost of setting up a trust can range from a few hundred dollars to several thousand dollars. There are several factors that can impact the cost of establishing a trust, including:
Type of trust: The type of trust you want to create will affect the cost. For example, a simple revocable living trust may cost less to set up than a complex irrevocable trust.
Assets: The more assets you want to place in the trust, the more it will cost to set up. This is because the process of transferring assets into the trust can be time-consuming and may require the help of professionals such as appraisers or accountants.
Complexity: If you have a complex financial situation, it may cost more to set up a trust. This is because it may take more time and effort to sort through your assets and determine the best way to transfer them into the trust.
Professional fees: The cost of establishing a trust will also include professional fees for the attorney or other professional who helps you set up the trust. These fees can vary greatly, so it's important to shop around and get quotes from multiple professionals before deciding on one.
If you are considering setting up a trust, it's important to work with an experienced estate planning attorney who can help you navigate the process and ensure that your trust is set up correctly. At Doucet Co., LPA, our attorneys have extensive experience helping clients with all aspects of estate planning, including trust creation. To learn more or to schedule a consultation, call us today at (888) 200-9824.