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Costs to set up living trust

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fcc

Junior Member
What is the name of your state? California

My parents want to set up a living trust. They met with an attorney who quoted them $1500 to handle everything. My dad then showed me various ads in the local paper advertising prices ranging from $300 to $495 for setting up a living trust and my feeling is he wants to go that route instead. There are 5 kids including myself who offered to pay the fees - we just want to make sure he doesn't get screwed. Can we trust these types of advertisements?
 


tranquility

Senior Member
It is impossible to tell if your dad is going to get "screwed" without interviewing the attorney who will do the work. Even then, there is no guarantee.

Many people can go with a canned living trust and have everything work out fine. Some of these forms can be done incorrectly and the tax and estate lawyer mailing lists are replete with error. However, I think it can solve many problems for a very fair price. However, is that what is needed? Going to an attorney who will interview the principal and find out their goals and then devise an *estate plan* which will acomplish that plan is often worth the extra money. There are many things which can be added to a living trust which will make it part of a plan which will set everyone's mind at ease. Unless money is really, really, really at a premium, I'd see an attorney who will sit down and work with mom and dad over a trust mill who is peddling off-the-shelf documents at a bargain price.
 

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