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How much does a living trust cost in Georgia?
In this article, you’ll learn about:
Let’s dig in.
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Here is how much a living trust costs based on the complexity of your living trust:
If you opt for a do-it-yourself (DIY) living trust, you might only spend between $50 and $350.
If you decide to hire a trust lawyer in Georgia, the cost can range from $1,000 to $3,000 for a single person’s trust.
This fee typically includes:
Let’s say your estate is complex, requiring unique provisions or tax planning.
Setting up a living trust like this costs can go up to $5,000 or more.
Remember, additional costs might occur, such as funding your trust or amending it in the future.
Also, the administration of the trust after your death can incur separate expenses.
Read More: Do I Need A Trust To Avoid Probate
The cost of a living trust varies based on several factors:
Read More: How To Put A House In A Trust
The average cost of setting up a living trust varies widely.
For a simple trust, costs typically range from $1,000 to $1,500.
This cost includes:
But more complex trusts:
Complex living trusts cost anywhere from $3,000 to $5,000 or more.
It depends on the:
Keep in mind, these living trust costs are not set in stone.
Several factors can affect the final cost of a living trust.
These factors include:
Moreover, the trust’s ongoing administration may also incur additional costs over time.
These costs could be related to:
Note that while an attorney-prepared trust may cost more, it can potentially save you money in the long run.
Properly crafted trusts help:
Let’s compare how much a living trust costs between:
A DIY living trust is a legal document that you create yourself.
This is done typically using online tools or software, without the assistance of a trust attorney.
It’s a way to manage your assets during your lifetime and distribute them after your death.
The cost of a DIY living trust largely depends on the software or online service you choose.
On average, a DIY living trust cost ranges from $50 to $500.
This is considerably cheaper than hiring a trust attorney, making it an appealing option for some.
However, creating a DIY trust has potential pitfalls, including:
While a DIY living trust costs less upfront, it may have limitations and risks.
It’s crucial to understand these before deciding on a DIY trust.
Read More: How To Transfer Property Into A Living Trust In Georgia
An attorney-created trust is a legal document drafted by a trust lawyer.
It sets out the rules you want to be followed for property held in a trust for your beneficiaries.
The cost of a living trust created by an attorney varies based on factors like:
Generally, you can expect to pay anywhere between $1,000 to $3,000 for a simple to moderately complex trust.
Choosing an attorney-drafted trust has several advantages.
Read More: Does Your House Have To Be Paid Off To Put It In A Trust
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