Living Trust Cost Calculator

About the Living Trust Cost Calculator

A revocable living trust is an estate-planning document that can hold assets during your lifetime and direct how they pass at death. The upfront cost often includes drafting, funding the trust, and any future amendments, but the actual quote depends on the attorney, online service, or DIY package you use.

This calculator estimates the paperwork side of a revocable living trust. It is a budgeting worksheet, not a quote, and it does not tell you whether a trust is the right structure for your estate.

When This Page Helps

A living trust can be a useful estate-planning option, but the paperwork cost is only one part of the decision. This worksheet helps separate drafting cost from funding and amendment cost so you can compare scenarios more realistically.

How to Use the Inputs

1. Enter attorney fees for trust drafting.
2. Add the cost of funding the trust (retitling assets).
3. Include pour-over will cost (typically included with trust).
4. Add any amendment costs for updates.
5. Compare total trust cost to estimated probate costs.

Example Calculation

Tips & Best Practices

• A living trust should include a pour-over will as a safety net for unfunded assets.
• Funding the trust (retitling assets) is as important as creating it — unfunded trusts don't avoid probate.
• Review and update your trust every 3–5 years or after major life events.
• Joint trusts for married couples cost 25-50% more than individual trusts.
• Online trust services may be adequate for simple estates but miss state-specific nuances.
• Some attorneys offer flat-fee packages including trust, will, powers of attorney, and healthcare directives.

Living Trust vs. Will Comparison

A will costs $300–$1,200 but subjects the estate to probate ($15,000–$35,000 for a $500K estate). A living trust costs $1,500–$5,000 but avoids probate entirely. For estates over $200K, the trust typically saves money over the long term.

Types of Trust Provisions

Common provisions include: successor trustee designation, distribution schedules (outright or staggered), special needs trusts for disabled beneficiaries, spendthrift clauses for beneficiary protection, and tax planning provisions for larger estates.

When to Update Your Trust

Update your trust after marriage, divorce, birth of children, death of a beneficiary, significant asset changes, moving to a different state, changes in tax law, or when your selected trustees or beneficiaries no longer fit your wishes.

Frequently Asked Questions

• How much does a living trust cost?

  A simple individual living trust costs $1,000–$2,500 through an attorney. Joint trusts for couples run $1,500–$4,000. Complex trusts with tax planning provisions, special needs trusts, or business interests can cost $3,000–$7,000+.

• Is a living trust worth the cost?

  For estates over $100,000–$200,000, a living trust often pays for itself by avoiding probate costs (3–7% of estate). It also provides privacy, faster distribution, and incapacity planning. For very small estates, a will may suffice.

• What is trust funding?

  Trust funding means retitling assets in the name of the trust. This includes recording new deeds for real property, changing account titles for bank and investment accounts, and assigning titles for vehicles and other property. Unfunded trusts don't avoid probate.

• Can I create a living trust myself?

  Online services and DIY kits ($200–$800) can create basic trusts. However, they may not address state-specific requirements, complex tax situations, or unusual family dynamics. Attorney review of any self-prepared trust is recommended.

• How long does it take to set up a trust?

  The trust document itself can be drafted in 1–3 weeks. Funding (retitling assets) may take 2–8 weeks depending on the number and types of assets. The entire process typically takes 1–3 months from start to finish.

• What is the difference between a living trust and a will?

  A will goes through probate, is public record, and only takes effect at death. A living trust avoids probate, remains private, takes effect immediately, and provides for incapacity management. Both can direct asset distribution.