Probate attorney reveals secret estate administration shortcut
Financial Benefits and Cost Considerations
The financial benefits of using a revocable living trust are significant. By avoiding probate, you eliminate the court fees and legal costs associated with the process, which can range from 3% to 7% of the estate's total value1. Additionally, the expedited process means beneficiaries receive their inheritance faster, potentially reducing the emotional and financial strain on them.
It's important to note that setting up a living trust does involve initial costs, typically ranging from $1,000 to $3,000, depending on the complexity and the attorney's fees2. However, these costs are often outweighed by the savings from avoiding probate.