Estate planning is not just for the wealthy. It's about making sure your wishes are followed and your family is protected.
Cost of a Last Will and Testament
A Will is a simpler document stating who gets what.
- DIY Online: $100 - $300
- Attorney-Drafted: $500 - $1,500
Downside: Wills must go through Probate court, which takes time and money after you pass away.
Cost of a Living Trust
A Trust allows your assets to bypass Probate, staying private and transferring immediately.
- DIY Online: $300 - $600
- Attorney-Drafted: $1,500 - $4,000
Which is Better?
If you own real estate, a Trust often pays for itself by avoiding the 3-5% probate fees on your home's value. For simpler estates (bank accounts and personal items), a Will is likely sufficient.
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