The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools

URL:  http://boards.fool.com/it-would-cost-2500-3000-to-set-up-a-trust-the-30434297.aspx

Subject:  Re: Trusts & IRAs Date:  12/15/2012  5:09 PM
Author:  Follydolly Number:  18130 of 19378

It would cost $2500-3000 to set up a Trust. The attorney's office would handle all the paper work to properly title assets. Expensive yes but less expensive that Probate and inusing attorney expenses.

Whoa! I had my revocable trust/will/health power thing set up by an attorney that specializes in this field. $700 fee for the whole thing. He did everything and it is quite involved. I live in Ohio and a revocable trust is necessary.

BTW, My IRA is NOT in the trust. Since I am widowed, my beneficiaries are my children and GKs. My house, car, bank account, taxable brokerage account, (not sure about life insurance) all are in the trust. I also have a living will to hand out to docs and hospital. My daughter is named as Power of Attorney for my health. No one is named to handle my money.

I have read that it can cost a lot for an attorney to make up a trust...glad mine was not one of those. I do have to say, it was some time ago that I made this up....I should be going back for a "free" review.

Birgit
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us