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Author: RoachFool Old School Fool Motley Fool One Everlasting Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Living Trust Date: 2/21/2000 6:05 PM
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I'm considering setting up a living trust and have met with an attorney. I have a couple of questions to which I'm hoping to receive some Foolish advice.

I have been quoted a rate of between $1100 and $1700 to set up the trust (depending on how complicated we want to get). I have seen rates advertised of $300 to $500 for both attorneys and companies to set up a living trust.

Once a trust is set up, are there any further fees. Will there be large fees if my wife or I die, or if both of us dies? Are the only future fees going to come when we update the trust?

Why should I not use a cheaper company or attorney? Do they get their money back by charging fees later? Do they advertise $300 and then when you come in, they say that in your case it will need to be more complicated and will cost $1500? If they charge such low fees should their comptency be in question? If I use a company will I have to pay more (than I would if I had used an attorney) to perform updates every few years?

Any advice will be greatly appreciated.

To TMF Taxes, will there be an article on Living Trusts in the FAQ anytime soon (or did I miss it)?

Thanks
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