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Revocable living trusts

Posted by sportsmom12 (My Page) on
Sun, Apr 9, 06 at 14:59

Okay- I watched Susie O. finance show and she convinced me to get my will updated and to get a revocable living trust( not even sure I spelled it right) Does anybody know how much they cost to have made up and are there lawywers that specialize in it. We are middle class people in our early fifites, I don't think our finances are too difficult- our home, some life insurance policies, vechiles- 401k accounts, not much regular savings.
Thanks


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RE: Revocable living trusts

I'll take a stab at it. Depends on your net worth. Up to $800K it was bout $1000. Above that its dependent on the net worth- ie the more you got the more they want because presumably you have a more complicated portfolio requiring much more paperwork.

I axt em what if I had $2 million in a passbook savings account (no securities - very simple) and they backed off and said it would be negotiable. Yah sure!

Hard to get a straight answer. Couple months ago a friend of mine with several propeties and a few CD's and overall net worth about $1 million spent around $1600-$1800 for a trust.

There are lawyers for this as well as paralegals that specialize. He used a paralegal.

As ever, see a library or a book store. Download info from Google. Know your stuff in advance. Don't rely on memory; get some publication(s) in your hot little hand that you can refer to anytime day or night.


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