For most people, once they learn how much they save in probate fees with a living trust, the trust becomes a "no-brainer." Generally, you can save at least $20,000.00 to $40,000..
The legal fee for setting up a living trust typically ranges from $1,500 for a simple trust, $1800.00 for a complex trust. A very complicated trust can cost up to as much as $2500 or more.
Most of my clients pay less than $2,000. The average is $1700. fee with a savings of $30,000.00.
Just to give you an idea, below are the probate fees on different home values.
|
Property Value
|
Full Probate Fees
|
|
$300,000
|
$18,000
|
|
$400,000
|
$22,000
|
|
$600,000
|
$30,000
|
A $1,000,000 home would generate a fee of $46,000. All of these probate fees can be avoided by setting up a living trust.