Need advice on setting up a trust and funding with assets
Hi all, I'm not sure if this is the right place to ask questions about setting up a Trust.
I'm looking to form a revocable trust to have all my assets in it, I understand that it does not protect me as an irrevocable trust would. I've done a lot of research and doesn't seem too complicated to set up. Now I'm shopping around for an attorney to proceed.
Can you share the cost range you for the service, and also have anyone used legalzoom's service to create on your own?
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The value of the living trust comes to whoever is appointed trustee when you are gone.
That person will most likely need the assistance of the attorney who formed the trust for you, to be able to accomplish the things that need to be accomplished- legally- so that they have the proper legal effect after your passing.
Some individuals get along with other individuals interpersonally in a more comfortable manner- that is something that you might want to factor into your choice also.
The formation process (work) for you no matter who you use will probably be quite similar no matter who forms it.
What I'm saying is you're looking for service after the sale too.
There will be assets that need to be added to the trust as time goes by and perhaps removed from the trust as time goes by, and perhaps a divorce situation might take place requiring trust adjustment- as well as after passing advice and guidance that will probably be needed by whomever the trustee is at the time.
Those things add up to billable fees also once the trust is established.
Find out what is included in the price that you were quoted from each practitioner- because you may not be making an apples to apples comparison based on just the prices- although they might all be offering the same thing at different prices.
Good Luck!