Statistics About The Average Cost Of A Trust

In this post, we will explore the wide range of costs associated with creating and managing a trust. From the national averages to specific services like living trusts, testamentary trusts, and special needs trusts, we will break down the various statistics on legal fees, online services, attorney charges, and more. Understanding these cost factors can help individuals make informed decisions when planning their estate and financial futures.

Statistic 1

"The national average cost of a professional living trust creation ranges from $1,200 to $2,000."

Statistic 2

"The average cost of a revocable living trust lies between $2,000 and $5,000."

Statistic 3

"Solo practitioners typically charge around $1,500 to $2,500 for a basic trust plan."

Statistic 4

"In major urban areas, creating a trust may cost as much as $4,000 to $7,000."

Statistic 5

"According to a survey by LegalZoom, the average cost of a living trust is about $1,500."

Statistic 6

"The typical estate planning attorney charges between $100 and $200 per hour."

Statistic 7

"The average price of an online living trust ranges from $250 - $500."

Statistic 8

"Individuals making their own trust through DIY software usually spends around $200."

Statistic 9

"Creating a living trust through direct attorney assistance costs between $1,000 to $1,500 on average."

Statistic 10

"The average cost of a “pour over” will, which works in conjunction with a trust, is around $300."

Statistic 11

"For a simple testamentary trust, legal fees typically begin around $1,000."

Statistic 12

"It costs an average of $2,500 to $3,500 to set up an irrevocable trust with professional help."

Statistic 13

"An AB trust averages between $3,000 and $7,000 in legal fees."

Statistic 14

"It costs an average of $3,000 to administer a trust after the trustmaker's death."

Statistic 15

"The price of trust management services typically ranges from 0.5% to 2% of the trust's assets per year."

Statistic 16

"To create a special needs trust, parents can expect to pay between $2,000 and $5,000."

Statistic 17

"An average amendment cost for a trust could be as much as $1,000."

Statistic 18

"Some higher-end attorneys may charge up to $200 per hour, so trust work can cost as much as $4,000."

Based on the range of statistics gathered on the average cost of trust creation, it is clear that there is significant variability in pricing depending on the type of trust, method of creation, legal assistance required, and specific services rendered. Costs can range from as low as $200 for a DIY trust to thousands of dollars for complex trusts or specialized legal assistance. Understanding the average costs outlined can help individuals make informed decisions about their estate planning needs and budget accordingly.