Thinking about setting up a living trust but not sure what it’ll cost?
You’re not alone. Most people have heard that trusts are more expensive than wills, but the numbers can feel like a mystery until you dig in.
The truth is, the cost depends on how you set it up and how complicated your situation is.
In this guide, we’ll go over how much it costs for a living trust, extra fees, and the main factors that can push the price up or down. By the end, you’ll have a clear picture of what to expect.
How Much Does A Living Trust Cost?
A living trust can cost anywhere between $300 to $5000+ depending on how you set it up and how complex your estate is.
If you’re going the DIY path, online legal platforms can help you build a basic living trust for around $300 – $500. These are usually best for simple estates like one house, a couple of accounts, and straightforward beneficiaries.
But if you want an attorney to draft it, you’ll pay more.
On average, a lawyer-prepared trust runs $1,200 – $3,000.
For people with more complicated situations like multiple properties, blended families, or business interests, the cost can jump higher, sometimes hitting $5,000+.
Here’s a quick breakdown:
- DIY online services: $300 – $500
- Attorney-prepared trusts: $1,200 – $3,000
- Complex estates: $3,000 – $5,000+
That upfront price may sound steep, but keep in mind that a well-drafted trust can save your family thousands in probate fees and months of stress down the road.
Also Read: How Much Does It Cost To Set Up A Trust In Virginia?
Extra Costs You Should Expect
Even after you decide on the type of living trust, there are additional costs that most people don’t think about at first.
These are smaller fees, but they can add up and affect your overall budget.
For example, if you’re transferring real estate into your trust, you’ll need to update the deed. That usually costs a recording fee, which can run anywhere from $50 to a few hundred dollars depending on your county and state.
Here are a few more things like that:
- Updating property deeds when transferring real estate into the trust
- Notary fees for signing documents
- Future updates or amendments to the trust as your life changes
- Additional attorney time if special instructions or complex assets are added
Planning for them ahead of time helps you avoid surprises.
What Affects The Cost Of A Living Trust?
Not every trust is prepared in the same way. Some take a lot of drafting and fine-tuning, while others are quick and straightforward.
Here are the main things that push the cost of a living trust up or down:
#1 Size Of The Estate
A bigger estate usually means more work.
A small estate is straightforward like maybe a single home, a checking account, and a retirement account. Drafting the trust is simple and quick.
Also Read: At What Net Worth Do I Need A Trust?
But once you start adding multiple homes, investment portfolios, vacation properties, or other assets, the trust becomes more involved. The attorney needs to account for all these assets, make sure they’re transferred properly, and create clear instructions for each one.
More assets mean more drafting, more paperwork, and higher costs.
#2 Number And Type Of Assets
Different assets take different levels of effort, and that affects the cost of living trusts too.
Cash accounts are easy because they can usually be retitled in the name of the trust quickly.
Real estate requires updating deeds and sometimes additional paperwork for mortgages. Out-of-state properties might also require separate documents to ensure the trust works in other jurisdictions.
Business ownership can be even more complicated, especially if you’re a partner or own multiple businesses.
So each unique asset adds more steps, which increases cost.
#3 Blended Families Or Special Provisions
Families can get complicated.
If you’ve been married before, have children from different relationships, or want to include special instructions, your trust needs to be drafted carefully to avoid disputes later.
For example, if a child has special needs, the trust may need language to protect government benefits while still providing support. Or you might want to leave certain assets to stepchildren differently from your biological children.
Each of these provisions requires time and legal expertise, which adds to the overall cost.
Also Read: How Much Does Estate Planning Cost In Virginia?
#4 Your Location
Believe it or not, legal fees vary widely by region too.
Attorneys in major cities often charge more than those in smaller towns. Even local filing or recording fees for deeds differ from county to county.
Two people with nearly identical estates in different parts of the country might pay very different amounts just because of location!
In high-cost areas, budget a little extra to cover these regional differences.
Is A Living Trust Worth The Cost?
This is the big question most people have after hearing the numbers.
The truth is, for many families, the answer is yes.
The main reason is probate. Without a trust, your estate usually has to go through probate court before your heirs get anything. Probate can take months, sometimes more than a year, and easily costs thousands in attorney and court fees.
A living trust helps skip that whole process. Assets transfer smoothly, often within weeks. It’s private, too unlike probate, which is a public court process.
That means your finances stay out of the spotlight.
Sure, a will is cheaper to draft, but the savings are usually short-term.
Bottom Line
A living trust costs anywhere from $300 to $5000+, depending on your approach, your assets, and your family’s situation. DIY options are the cheapest, but attorney-prepared trusts provide more protection and customization.
You’ll also want to budget for extras like deed transfers, notary fees, and occasional updates.
Those aren’t massive costs, but they’re part of the bigger picture.
If you’re not sure what’s right for you, a quick consultation with an estate planning attorney can help you weigh your options.
Disclaimer: This material is intended for general information purposes only and does not constitute legal advice. Responses to inquiries, whether by email, telephone, or other means, do not constitute legal advice, nor do they create or imply the existence of an attorney-client relationship.