Yet another revocable living trust question.

[Nords]

I just finished our IRA conversion paperwork and I'm ready to start the next big, ugly, long-term project. Anyone have any lessons learned to share on living trusts?

Spouse and I recently updated our wills to include A/B trusts after the first one of us dies (apparently I've volunteered for that duty). So we think we've resolved the estate tax issue and I can stop watching my back during 2010.

Next up is a revocable living trust to avoid probate expenses. I think I've read enough books & websites-- I understand how they work, how they're taxed, and how they should be structured. It looks like we could glue on a living trust fairly easily where our current wills leave off. Ideally the trust would cover so much of our estate that there'd be little or nothing to probate under the will (and the A/B trusts would probably be moot). Depending on fees I'm willing to do the trust's retitling & recording myself.

I'm personally motivated to establish a RLT because my father was dragged through legal hell (sorry, Martha_M) during the probate of my grandfather's "simple" $60K estate-- not much more than a brokerage account. In addition to the experience my Dad paid more than $4000 and spent over 13 months pursuing K-1s. Well, maybe it was more like legal heck... but I think it's still worth $4000 to avoid having our executor repeat the experience on our estate.

We're at the point where I'd have to make appointments, drive downtown, and interview several firms. Local Hawaii lawyers quote $2500-$3000 for the whole package with some form of annual maintenance.

Has anyone put together a living trust recently? How much did you pay, and was it worth it? What issues did you bring up with the lawyers? What do you wish you'd done differently-- or not at all?