How Much Does It Cost to Set Up a Trust

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 4,876 reviews

Jump to Section

Need help with a Living Trust?

Post Project Now

Post Your Project (It's Free)

Get Bids to Compare

 Hire Your Lawyer

Setting up a trust can cost $1,500 to $2,500 depending on factors like sophistication level and location, with additional fees for asset transfer documentation. The answer is quite subjective if you are wondering how much does it cost to set up a trust. A trust is a legal entity where one can transfer ownership of one's possessions to reduce the size of one's estate or make it easier to distribute assets to the targeted beneficiaries after a person's demise. Moreover, to have a trust set up, an estate lawyer may charge at least $1,000.

Furthermore, any time you seek legal guidance and are required to pay legal expenses, your overall trust costs will go up. Besides, you may also be required to pay filing costs for modifying the name on a title, deed, registration, or license for any assets you transfer into a trust. Management costs should also be considered when setting up a trust, such as hiring an accountant to prepare the annual tax return file.

What is a Trust?

A trust is a legal structure where one or more people or a business (referred to as the trustees) manages funds or other assets (referred to as the trust property), which they get required to utilize for the advantage of one or more people (the beneficiaries). In addition, setting up a trust can be extremely helpful if one is concerned about their child's mental illness or learning impairment (if they have any). The trustees may receive benefit payments and spend them following the trust's guidelines. Furthermore, the four categories of trusts are living, testamentary, revocable, and irrevocable.

While testamentary trusts take effect after your death, living trusts take effect as soon as you institute them. Moreover, all trusts can get revoked. You can modify a revocable trust's terms if you choose that option. With irrevocable trust, you won't be able to accomplish the same. In addition, creating this trust gives another person or trustee control of your assets.

Cost to Set Up a Trust

Whether you're single or married, how sophisticated the trust needs to be, and the state you live in, you'll probably pay an attorney between $1,500 and $2,500 to create your trust. For instance, Ohio's living trust fees and New York's living trust fees are likely to differ. The time and experience of the estate planning or probate lawyer are additional factors. Some sophisticated trusts are set up at higher costs of $5,000 to $7,000, and attorneys occasionally charge more for a first-time or first session.

It will cost extra to draft the documentation transferring assets and possessions into the trust on top of the trust itself. These expenses can be anywhere from $350 to several thousand dollars. However, there are numerous benefits to hiring a lawyer, like your trust and legal paperwork will be drafted.

Meet some lawyers on our platform

Jane C.

114 projects on CC
View Profile

Ryenne S.

201 projects on CC
View Profile

Amber M.

1 project on CC
View Profile

Matthew S.

10 projects on CC
View Profile

How to Set Up a Trust

Regardless of how you choose to set up your trust, you must first decide which type of trust best suits your needs. Although you can conduct your research, you might want to speak with a fiscal or legal expert, given how complicated some trust setups can be. The first step is establishing a trust document once you've decided on the trust's structure. Most businesses will offer some internet assistance if you're putting up the trust yourself. When the trust document is prepared, you must get it notarized and signed. Your state's legislation may require numerous signatures from the grantor(s) and trustee(s), as well as the presence of witnesses throughout the procedure.

You must open a trust account once the trust has been created and signed. Cash, equities, bonds, index funds, real estate, and other sorts of property are just a few of the many different kinds of assets that trusts might hold. You can add assets to the trust after the account is set up. To ensure that the assets flow to the trust after the grantor's passing, you can name the trust as a beneficiary if the trust was created as part of an estate plan. Again, trusts can be intricate and complicated, so if you're unsure which options are best for you and your family, speak with a legal or financial expert before deciding.

How Trust Funds Work

A trust agreement, which specifies how assets are to be handled for the benefit of another person or persons, effectively governs a trust account, which is sometimes referred to as a "trust fund" informally. A life assurance policy, cash, real estate, stocks, and bonds are all assets based on trusts. For the benefit of the beneficiary, or recipient, a trustee is in charge of managing the trust. You, the grantor or trustor, can create a trust with numerous beneficiaries, usually children, though other family members may also get included. The trustee you choose will take over as soon as you pass away or become incapable.

A person, a professional trustee service, or even a mix of a person and a professional trustee service may serve as this trustee. In the past, wealthy people established trusts to manage how their estates would be distributed to heirs, friends, or organizations (such as charities). Today, many common, middle-class Americans use trusts to limit how their beneficiaries can spend their wealth. Additionally, trust funds can assist in avoiding the need for probate, which can be an expensive and drawn-out legal procedure. Trusts can be helpful for gradually transferring funds to children. For instance, many kids under 18 lack the maturity or financial know-how to manage their assets. The trust's terms may specify that assets be dispersed over time.

Key Terms

  • Agent: This is the individual you named to work on your behalf in the Advanced Health Care mandate. In addition, a representative is called your "Attorney in Fact" in a trust's Durable Power of Attorney.
  • Certificate of Trust: This document is an effortless way to finance your trust. It outlines your trust and summarizes pertinent data required for a designated entity to be able to add the title of your trust to your funds as the owner.


One of the various estate planning tools you may utilize to safeguard your assets and those you love after you pass away is a living trust. Depending on your area, the intricacy of the trust, and how you choose to set it up, trust setup expenses will vary. So if you are looking for dependable attorneys to set up your trust, our experts at ContractsCounsel can help you. To avail of our services, all you need to do is post your requirement, and our attorneys will reach out to you in no time.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

Bruce B. on ContractsCounsel
View Bruce
5.0 (13)
Member Since:
January 11, 2022

Bruce B.

Managing Attorney
Free Consultation
Tampa, FL
8 Yrs Experience
Licensed in FL
University of South Carolina

Bruce Burk practice is in the area of small business, labor and employment, contracts, real estate and civil litigation. Bruce has litigated over 40 trials as well as many appeals. He prioritizes client communication and satisfaction as well as delivering high quality work product.

Cory B. on ContractsCounsel
View Cory
5.0 (1)
Member Since:
November 29, 2021

Cory B.

Free Consultation
Bellaire, OH
7 Yrs Experience
Licensed in OH
Duquesne University School of Law

Attorney Cory Barack specializes in business, real estate, probate, and energy law. He can help you with oil/gas leases, easements, property sales, drafting contracts and wills, setting up companies, and resolving disputes. He is licensed to practice law in Ohio and is located in Eastern Ohio.

Daehoon P. on ContractsCounsel
View Daehoon
4.7 (76)
Member Since:
November 26, 2021

Daehoon P.

Corporate Lawyer
Free Consultation
New York, NY
8 Yrs Experience
Licensed in NY
American University Washington College of Law

Advised startups and established corporations on a wide range of commercial and corporate matters, including VC funding, technology law, and M&A. Commercial and Corporate Matters • Advised companies on commercial and corporate matters and drafted corporate documents and commercial agreements—including but not limited to —Convertible Note, SAFE, Promissory Note, Terms and Conditions, SaaS Agreement, Employment Agreement, Contractor Agreement, Joint Venture Agreement, Stock Purchase Agreement, Asset Purchase Agreement, Shareholders Agreement, Partnership Agreement, Franchise Agreement, License Agreement, and Financing Agreement. • Drafted and revised internal regulations of joint venture companies (board of directors, employment, office organization, discretional duty, internal control, accounting, fund management, etc.) • Advised JVs on corporate structuring and other legal matters • Advised startups on VC funding Employment Matters • Drafted a wide range of employment agreements, including dental associate agreements, physician employment agreements, startup employment agreements, and executive employment agreements. • Advised clients on complex employment law matters and drafted employment agreements, dispute settlement agreements, and severance agreements. General Counsel • As outside general counsel, I advised startups on ICOs, securities law, business licenses, regulatory compliance, and other commercial and corporate matters. • Drafted or analyzed coin or token sale agreements for global ICOs. • Assisted clients with corporate formations, including filing incorporation documents and foreign corporation registrations, drafting operating and partnership agreements, and creating articles of incorporation and bylaws. Dispute Resolution • Conducted legal research, and document review, and drafted pleadings, motions, and other trial documents. • Advised the client on strategic approaches to discovery proceedings and settlement negotiation. • Advised clients on employment dispute settlements.

Chia-Fen Y. on ContractsCounsel
View Chia-Fen
Member Since:
November 16, 2021

Chia-Fen Y.

Free Consultation
Elk Grove, CA
9 Yrs Experience
Licensed in CA
University of California, Davis

Attorney Yu represents clients in business and real estate transactions and has successfully handled more than 200 cases. She has experience in corporate law, including forming legal entities, employment law and workers’ compensation law matters pertaining to wage and hour violations, industrial injuries, misclassifications, and other employment-related torts and contracts. Attorney Yu works with employers to address employee relationship issues, develop effective policies and craft employment agreements. Attorney Yu regularly advises clients on the legal and business aspects of potential investments, ongoing business operations, debt collections, shareholders and partners disputes, business purchase agreements, risk assessment, intellectual property disputes, and potential contract disputes. She regularly handles real estate law matters such as landlord-tenant disputes, lease agreements, buy-sell disputes, title disputes, and construction disputes. She also has substantial experience settling debts, and she drafts, reviews and negotiates settlement agreements. Attorney Yu conducts extensive legal research and provides on-point legal advice to both corporate and individual clients.

Harrison K. on ContractsCounsel
View Harrison
Member Since:
November 16, 2021

Harrison K.

Attorney and Executive
Free Consultation
Los Angeles
28 Yrs Experience
Licensed in CA, MD
California Western School of Law

Harrison Kordestani is an executive with over twenty-five years experience in entertainment and media, energy, technologies, and start-ups. Mr. Kordestani has also developed a specialized legal and strategic consulting practice representing select entertainment, oil and gas, mortgage lending, and technology start-up clientele. He is also deeply passionate about new technologies and has also actively worked in building companies in the video-on-demand, wearable tech, information of things, demand prediction and app-marketing spaces. As an attorney, Mr. Kordestani's focus has been on transactional drafting and negotiation and providing ongoing legal counsel, corporate compliance, and contract interpretation to numerous private individuals as well as companies in varied fields.

Abraham W. on ContractsCounsel
View Abraham
Member Since:
November 18, 2021

Abraham W.

Free Consultation
Nashville, TN
4 Yrs Experience
Licensed in NY, TN
Harvard Law School

Abraham's practice focuses on counseling emerging group companies in the technology and other commercial agreements, and assisting equity financings (specifically venture capital).

Dave Y. on ContractsCounsel
View Dave
Member Since:
November 22, 2021

Dave Y.

Free Consultation
Colorado Springs
2 Yrs Experience
Licensed in CO
University of Denver

I am available for data privacy and cybersecurity projects. I am CIPP/US certified through the IAPP. I have also taken coursework focused on the GDPR through the London School of Economics. In my past career I was an intelligence officer. I am well acquainted with information security best practices and I have experience developing and implementing administrative controls for classified information and PII. I have worked extensively overseas and I am comfortable integrating with remote teams. Feel free to reach out any time if you have any additional questions on my areas of expertise or professional background.

Peter W. Y. on ContractsCounsel
View Peter W.
Member Since:
January 24, 2022

Peter W. Y.

Free Consultation
24 Yrs Experience
Licensed in CT, NY, PA
Haub School of Law at Pace University

Perceptive, solution-driven counselor and experienced attorney. Record of successful verdicts, settlements, negotiations, arbitrations, mediations, and deals. Effective claims management, litigation strategy, and risk consulting. Proven ability to oversee litigation teams, communicate to stakeholders, manage multiple projects effectively, and expand business relationships. Extensive experience handling legal issues in engineering and construction, environmental litigation, corporate and contractual, and insurance issues.

Cameron S. on ContractsCounsel
View Cameron
Member Since:
January 24, 2022

Cameron S.

Free Consultation
San Francisco
28 Yrs Experience
Licensed in CA
University of San Francisco

A commercial contracts lawyer with over 25 years of experience (both at large law firms and in-house as general counsel of a public company)

Brittany B. on ContractsCounsel
View Brittany
Member Since:
December 4, 2021

Brittany B.

Free Consultation
Ann Arbor, MI
9 Yrs Experience
Licensed in MI
Wayne State University Law School

Brittany advises startups and emerging and public companies at all stages of growth, with focuses on formation and corporate governance matters, securities, venture capital financings, M&A and other strategic transactions, commercial contracts and general corporate counseling. Brittany represents clients across a broad spectrum of industries, including technology, automotive, mobility, digital health, consumer products and manufacturing.

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call