How to Compare Prices For Living Trusts
- 1). Call the attorneys in your area to set up appointments for consultations regarding your needs in establishing a living trust and the services they can provide. The attorney may charge for the meeting, include the charge in the fee for drafting the trust or may waive the consultation fee in your specific circumstances.
- 2). Ask the attorneys how much experience they have in estate planning and drafting living trusts. The amount of experience the attorney may have an impact on the price of the living trust. Many states require that attorney fees be based on a number of factors, including their experience and the prices of other attorneys in the area offering living trusts.
- 3). Discuss with the attorneys your financial and estate planning goals. You should supply them with your financial documentation, so the attorneys may determine the living trust which will be in your best interest. By supplying the attorneys with your financial documentation, they may also determine which property should be transferred to the living trust.
- 4). Ask the attorneys what their fee for drafting a living trust includes. Is the fee a flat fee where all work is included or only a specific number of hours of attorney work? Does the fee include the transference of title of the property to the living trust? These are important questions to be considered in order to evaluate whether the fee will cover everything or if additional costs will occur.
- 5). Discuss your budget with the attorneys. Many attorneys may be willing to waive certain fees or lower them in order to gain or retain your business. If you have a realistic limit on how much you want to spend on the creation of the living trust, the attorneys will know what your expectations are on the finished living trust.
- 6). Sign a fee agreement with the attorney you decide will best meet your needs. Although not all states require a written fee agreement in estate planning matters, it is best to have one in case a fee dispute arises after completion of your living trust.