What do you Charge for a Revocable Living Trust?

Everyone’s situation is unique and so it is difficult to fix a set one price applicable in all circumstances.  We focus on providing individualized service and custom answers to each client’s particular circumstances, not documents out of a box.  The landscape is rife with those who hold seminars to drum up business, then pump out poorly-drafted one-size-fits-all RLTs that are promoted as essential estate planning tools that often can’t deliver on what is promised to clients who don’t understand what they are getting (or have gotten).

We provide an initial planning consultation for $150.00.  We will listen to your concerns, explain your options, and—yes—provide specific quotes for any estate planning options you are interested in at that time.  We will then credit the consultation fee to any estate planning work done within 60 days of the consultation.

Though an RLT is not the best option for everyone, it is a good option for many of our clients.  As a general matter we prepare a Revocable Trust Estate Planning package for:

  • $1,200.00 for an unmarried individual
  • $1,400.00 for a married couple (may be slightly higher if property is to be kept separate, i.e., ‘his’ property to ‘his’ kids/family/heirs and ‘her’ property to ‘her’ kids/family/heirs)
  • $1,700.00 for an unmarried couple or a married couple with two separate RLTs done at the same time.  (For tax reasons an unmarried couple must have two RLTs, but we can integrate them to provide a uniform estate plan if that is desired.)

This is a complete price (not a teaser to get you in the door) and includes a planning conversation with the attorney, answering questions, drafting the documents, an examination and execution of the documents with the attorney, and assistance with funding (transferring assets into the trust).  The documents prepared include:

  • The Living Trust itself
  • Certification of Trust
  • Declaration of Trust
  • Summary of Trust Provisions with explanatory notes
  • Pour-Over Will(s)
  • Durable Power of Attorney(s)
  • Health Care Documents
  • Assignment of Personal Property
  • Deeds (up to 2) for the transfer of NC real estate (additional deeds may be drafted for a small additional fee)
  • Various documents containing instructions, explanations, and other planning tools.

The most common reasons for a slightly higher price are:

  • The client desires an IRA Beneficiary Trust to go along with the package.
  • The client has business ownership/control issues that they wish to address in their RLT.  After examining the appropriate documents (generally at no charge) we will provide a price to transfer partnership/LLC interests or corporation shares as appropriate.  For a single member LLC the cost is often minimal.
  • The client has extensive real estate holdings.  North Carolina deeds in excess of 2 are provided at $75.00 each plus recording fees.  We assist clients in obtaining deeds for out-of-state realty at our cost from attorneys in the state where the realty is located.
  • The client desires to use Enhanced Life Estate deeds for some or all of the real estate.
  • The client needs/desires a Special Needs Trust to care for a disabled beneficiary.
  • The client’s situation requires tax planning (i.e., they are likely to have assets worth more than the estate tax exclusion at death).  For a married couple, we can include A/B or Disclaimer feature to the trust for and additional $150.00.  This essentially doubles the estate tax threshold for the couple.  For larger estates, or for unmarried persons likely to have assets in excess of the threshold at death, other work may be proposed to avoid taxation.

If you ever need help with the Trust in the future we will provide a consultation at no charge, and I am always happy to answer questions you may have about your trust.

I would truly appreciate the opportunity to be of service.  Please call for an appointment today.

Office Phone (704) 784-0846