cost to have a revocable trust and accompanying paperwork

[ransil]

I just got a offer from NFCU for a trust way cheaper than what is posted here, has anyone used it and it it what would be expected for 10k more.
I did try NFCU "free FA" at call #3 i was trying to figure out who was the FA by call #4 wanting to transfer my assets and me declining I was dropped fast.

Estate Planning for Navy Federal Members | Trust & Will

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[CaliKid]

As an estate attorney for over 30 years I strongly encourage people, even people that already know everything and don't need more information, to talk to a highly experienced estate attorney - a specialist. Please don't go to the free or discounted person you get with your work benefits because those benefits typically pay attorneys very little so highly experienced specialists aren't on those lists. Also, look for a specialist not a generalist. Look for someone with 5+ years doing estate work. Anybody can fill out some forms but an experienced specialist will know all the little nuances beyond the forms. For example, people talk about the DMV and transferring cars into a trust. At least in CA the transfer without probate forms are simpler than transferring a car into a trust. Legal fees can still vary greatly but I would say $3k-$7k is a reasonable target for a revocable trust package.

 

[stephenson]

North Florida - about $2000, maybe a bit more with various bits. This included Will and RLT. Four years ago for spouse and I, and a bit less than that for my sister two years ago.

These things are very simple, with attorney staff putting names into a standard form - assuming one's circumstances are simple (most are). If your state allows, the prep can be by phone, and signing electronically or by video tool.

 

[PatrickA5]

Last year, we went through the process of looking into trusts by meeting with a number of lawyers. In the end, we decided we didn't really need a trust and instead just redid our Wills, POAs, etc. Prices we were quoted were all over the board, from $1,500 up to $10,000.

As it stands now, everything we own - including house and cars will avoid probate. We have Wills, just in case. Obviously, there are other reasons to use a trust, so YMMV.

 

[stephenson]

Some states have provisions allowing a couple of cars/trucks to be personally owned without provisions of probate kicking in ... sooooo many folks pay for the RLT set up, then forget/avoid/etc the loading of assets into it.

 

[AudiDudi]

We just spent $3k for the 2 of us in Montana. DPoA's, health care directives, wills and the revocable trust.

 

[Ian S]

As an estate attorney for over 30 years I strongly encourage people, even people that already know everything and don't need more information, to talk to a highly experienced estate attorney - a specialist. Please don't go to the free or discounted person you get with your work benefits because those benefits typically pay attorneys very little so highly experienced specialists aren't on those lists. Also, look for a specialist not a generalist. Look for someone with 5+ years doing estate work. Anybody can fill out some forms but an experienced specialist will know all the little nuances beyond the forms. For example, people talk about the DMV and transferring cars into a trust. At least in CA the transfer without probate forms are simpler than transferring a car into a trust. Legal fees can still vary greatly but I would say $3k-$7k is a reasonable target for a revocable trust package.

The firm we got through my private pension benefits seems to meet your requirements. Their work was thorough and didn't conflict in any way with my existing knowledge of what would benefit us. Our situation was not very complicated as, apart from our home that went into the Trust, everything else was taken care of by assigning beneficiaries and the use of pour-over wills. As always, YMMV.

 

[frank]

Iowa is phasing out inheritance tax in 2025, and I am also told that if the inheritance goes to the wife or immediate descendant, such as children or grandchildren they do not have to file interitance tax.

 

[Happyras]

If we did not have estate tax in WA with a very low exemption, I would would avoid the trust structure. But we do, and its not cheap. Estate plan for about $5K here if it involves QTIP and complicated beneficiary trusts.