How much does a living trust cost?
How much does a living trust cost?
$1,000 – $7,000 total average cost (with an attorney)
$100 – $800 total average cost (DIY)
Average living trust cost
The cost of a living trust depends on who drafts the document, your location, and estate complexity. Most individuals pay $1,000 to $3,000 for attorney-drafted trusts. DIY kits and online services can bring prices down to $100 to $800, though they may not fit complex estates. A revocable living trust costs slightly less on average than an irrevocable trust.
| Service type | Average cost | What's included |
|---|---|---|
| Attorney (basic) | $1,000 – $3,000 | Custom trust document, estate analysis, guidance, notarization, and follow-up consultations |
| Attorney (complex) | $3,000 – $7,000 | Advanced drafting for large or blended families, business ownership, or unique assets |
| Online platform | $200 – $800 | Standard trust, step-by-step guides, electronic delivery, and optional attorney review |
| DIY trust kit | $100 – $300 | Template forms and instructions with no legal advice or customization |
With an attorney
Most attorneys charge between $1,000 to $3,000 to create a basic living trust, or $3,000 to $7,000 for complex estates. The hourly rate of a lawyer is $150 to $400, depending on their reputation and experience level.
Very experienced attorneys charge $300 to $400 per hour. Junior associates charge $150 to $250 per hour but may take longer. Ask your lawyer how long they think it will take or if they have flat fee options if you're uneasy about hourly rates.
DIY or online program
Creating a trust with a kit or online program costs $100 to $800, depending on whether you're creating an individual one or a joint trust with a spouse. These DIY programs cost less than hiring an attorney, and some include access to a lawyer if you need help. However, they're not suitable for large or complex estates.
Living trusts can be pricey, but they save money in the long run by preventing your property from passing through probate court when you pass away. Most families end up spending 3% to 5% of the estate's worth in attorney and probate fees, or $15,000 to $25,000 for a $500,000 estate.
What is a living trust?
A living trust, or inter vivos trust, is created during your lifetime and holds assets you transfer into it, helping you avoid probate. The key difference lies in its revocability: a revocable living trust allows you to change or dissolve it while alive.
An irrevocable trust is a permanent, often unchangeable agreement that relinquishes control over assets. Both are established and funded while the grantor (the trust creator) is alive. A testamentary or non-living trust is a trust created by the grantor's will after their death.
Cost of living trust by type
A living trust comes in two types: revocable and irrevocable. You're able to modify revocable trusts after creating them, but irrevocable trusts are extremely hard to change. The following table shows the average cost to set up a trust by type:
| Trust type | Average total cost* |
|---|---|
| Revocable | $1,500 – $7,000 |
| Irrevocable | $1,000 – $6,000 |
*With a lawyer
Revocable living trust cost
A revocable living trust is the most common type and usually falls in the $1,500 to $7,000 range with an attorney. Revocable trusts allow changes any time during your lifetime, making them popular for flexibility and long-term planning.
However, revocable trusts don't shield your assets from creditors, estate taxes, or lawsuits as irrevocable trusts do.
Irrevocable living trust cost
An irrevocable living trust costs $1,000 to $6,000, but the terms are set in stone after you sign the paperwork and are hard if not possible to change afterwards. However, this type of trust carries tax benefits (since beneficiaries will not pay estate taxes) and protects assets from creditors and lawsuits.
What impacts the cost of a living trust?
Several factors affect the cost of a living trust:
Estate complexity: More assets, blended families, or businesses will end up increasing time and lawyer fees.
Geographic location: Urban and high-cost regions often have higher attorney rates.
Level of customization: The need for special provisions or additional documents in your trust raises costs.
Professional experience: Highly experienced estate attorneys typically charge more.
Additional fees
Consider these potential extra costs when budgeting for a living trust price:
| Additional service | Average cost |
|---|---|
| Property deed transfers | $150 – $500 |
| Estate or tax planning add-ons | $500 – $2,500 |
| Will preparation bundle | $200 – $1,500 |
| Additional consultations | $150 – $400 |
Trusts vs. wills
Writing a will costs $300 to $1,000+ with a lawyer's help. A will describes how you want to distribute your assets after death. A trust is more complex and sometimes covers assets as well as a power of attorney. Wills also provide guardianship clauses for minor children, but trusts do not.
Unless your estate falls below a threshold of value ($50,000 in many states), it will be subject to probate court. If you have an estate larger than this minimum, you may want to create a trust or both.
| Factor | Trust | Will |
|---|---|---|
| Cost | $1,000 – $7,000* | $300 – $1,000* |
| Best for | People who want to manage assets before they die, reduce taxes, or avoid probate | People with dependents or specific end-of-life wishes |
| Process | Complex with more paperwork | Simple and straightforward |
| Taxes | Irrevocable trusts protect against taxes and creditors | Don’t avoid taxes |
| Privacy | More private and less likely to be contested | Public probate can be contested |
*With an attorney
Living trust FAQs
What is a revocable living trust?
A revocable living trust allows you to make changes or dissolve the trust at any time. It helps with asset management and simplifies estate distribution after death.
How does a living trust work?
You (the grantor) transfer ownership of your assets into the trust. You appoint a trustee to manage them according to your instructions, for your benefit, and then for your beneficiaries when you pass away.
Is a living trust revocable or irrevocable?
There are both revocable and irrevocable living trusts. Revocable trusts offer flexibility, while irrevocable trusts cannot be changed easily and provide potential tax or minority asset protection benefits.
Is a living trust better than a will?
A living trust generally helps avoid probate, offers privacy, and provides smoother asset transfer. However, a will may be more suitable for simple estates or those with minor children needing guardianship arrangements.
Getting estimates from attorneys
When looking for a living trust company or estate attorney near you, follow these steps:
Search for board-certified estate planning specialists in your state.
Read client reviews on Lawful and Google and compare ratings on reputable directories.
Ask about their living trust experience, credentials, and services offered.
Confirm their fees up front and what's included.
Request details on their process and expected timeline.
Questions to ask an attorney
Before you hire an estate attorney for your living trust, ask:
What is your experience with living trusts and estate planning?
How much does it cost for a living trust in my situation?
Do you offer flat fees, or is pricing hourly?
What's included in your fee, and are there any extra charges?
Will you help fund the trust by retitling deeds or accounts?
Can I make future changes to my trust easily?
Do you bundle will drafting with trust creation?
How do you handle blended families or complex assets?
What is the timeline from consultation to completion?
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