Apr
3
2025
How Much Does It Cost To Set Up A Trust?
Living trusts are a common type of estate planning tool for families who want more control over the specifications of how and when their assets will be distributed. They are more complicated and costly than Wills, which leads many to opt for a traditional Will instead. This is discussed in my blog, "Do I Need A Living Trust?"
So if you do decide to draw up a living trust for your estate planning, how much will it cost you? In this blog, I'll explain the various types of living trusts and how much you can expect to pay for each.
What Are The Types Of Living Trusts?
People frequently ask about setting up a trust as part of an estate plan. Typically, they are talking about a revocable living trust, although some situations call for an irrevocable living trust. A revocable trust is one that can be completely or partially revoked either during the lifetime of the person creating the trust or afterward.
An irrevocable trust means just that: it cannot be revoked. Irrevocable trusts are seldom the right estate planning tool and should be used with caution. Intricacies of considerations in choosing an irrevocable trust should be discussed with a competent attorney.
Another form of trust is a testamentary trust. This is one that is set up under a Will and does not become effective until your death. The trust I will be discussing here is a living trust. If a trust is set up under a Will, the cost of the trust is included in the Will preparation fee.
How Much Does It Cost To Set Up A Trust In Texas?
The cost of drawing up a living trust can vary widely depending on:
- The nature of your assets
- The terms you want to set for the operation and distribution of the trust
- Successor trustee arrangements
- Whether there need to be special provisions for certain beneficiaries, such as minors, disabled individuals, kids (grandkids) in college, or beneficiaries with substance abuse issues
The cost of a very simple living trust is a minimum of $1,500 to $2,000; in a large market, the cost may be more. The cost can go up incrementally with the complexity of the trust document. A complicated trust document can run from $2,500 to $5,000 or more. Any trust agreement must contain certain basic terms in order to be effective. Even simple trust agreements generally run 20 to 30 pages in length. There can be just one joint trust agreement for spouses if the terms fit that arrangement.
Additional costs will be incurred for drafting documents to transfer property into the trust, such as deeds, assignments, and letters of instruction to banks or investment companies. This cost will depend on how many different transfer documents are required and can range from $350 to several thousand dollars.
Transferring assets into the trust, however, is an essential step in the process and should not be neglected despite the extra cost. Failure to transfer assets into a trust defeats an essential purpose, avoiding probate.
These costs may seem high, but there are significant potential savings down the road by probate avoidance or other transfer-on-death expenses. Many times, the initial cost of setting up a trust offsets the likely cost of probate if a trust had not been created. The trust can also make the passage of assets much simpler and more private than probate.

DIY Trust Dangers
Like just about anything these days, you can find forms online to create a living trust yourself. The standard warning applies here: "let the buyer beware". If you are very savvy, these might be sufficient. However, the danger is, if the trust agreement is not done correctly, and transfers to the trust are not made correctly, you will not have saved any time or money.
In fact, you most likely will have greatly increased the cost of handling your estate in the long run. The probate process or some variation thereof will still be required. Unintended consequences of inartful drafting can mess up your whole estate plan. You can read this blog to see the consequences of choosing online templates for your estate planning.
As an attorney with 45+ years of experience, I have seen a number of DIY trust agreements that were not legally adequate and failed to accomplish the intended purpose. In some instances, the DIY route can create more problems and expenses down the line than if nothing were done at all.
This is one time when it's better to be safe than sorry. You are better off spending the money to have an attorney draft the documents to do it right.

Is A Living Trust Right For You?
Living trusts may be more costly than Wills. However, if a trust is the best way to pass on your unique estate, the peace of mind you will receive from setting up a living trust correctly will be well worth the expense.
If you are considering setting up a trust and would like to discuss your needs and the likely cost, please contact Adair M. Buckner to schedule a free initial consultation*. Your estate plan is the last gift you leave behind for those you love. Let's take the time to ensure it best reflects your wishes.
*(The free consultation does not cover actual review of documents or giving legal advice on a specific situation.)
** Please remember that the cost estimates given are only general, ballpark numbers for the Amarillo area and costs can vary widely depending on many variables in your individual situation.
*** This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal, or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.
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