Message Font: Serif | Sans-Serif
No. of Recommendations: 2
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.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.