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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
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Can I write my own trust deed?
We recommend you hire a conveyancing solicitor to create your Deed of Trust, as this way it is legally binding. When you create your own Deed of Trust, writing it out yourself and getting someone else to sign as a witness, you might find it includes mistakes or is not recognized in a court of law.
Can I write my own trust?
When you create a DIY living trust, there are no attorneys involved in the process. It is also possible to choose a company, such as a bank or a trust company, to be your trustee. You'll also need to choose your beneficiary or beneficiaries, the person or people who will receive the assets in your trust.
How much does it cost to create a trust?
Using an attorney means that the trust will be completed correctly, but the associated fees can greatly increase the cost of creating a living trust. The average cost for an attorney to create your trust ranges from $1,000 to $1,500 for an individual and $1,200 to $1,500 for a couple.
Do I need a lawyer to write a trust?
As long as your living trust contains these basic elements, you can make your own living trust. Some choose to hire a lawyer, and more specifically, an estate planning attorney to prepare their estate planning documents, but this is not always necessary.
Can I write my own revocable trust?
Sure you can write your own revocable living trust. The discussion of your need for a revocable living trust is in another of my articles, but it is safe to say that if you own real property and have a significant estate (over about $50,000), then you could use a trust, and it would help your loved ones.
What type of trust should I set up?
Most trusts can be revocable. Having a revocable trust in place can help you avoid probate, which is the process a court takes to finalize your legal and financial matters after you pass away. Probate can be a lengthy process for your loved ones to work through, and becomes a matter of public record.
Can I do a living trust without a lawyer?
While many people can make a living trust without the help of an attorney, there are some situations require individualized legal advice. For example, don't try to make your own living trust if: You don't have anyone to name as trustee.
Do you need a lawyer to make a living trust?
As long as your living trust contains these basic elements, you can make your own living trust. Some choose to hire a lawyer, and more specifically, an estate planning attorney to prepare their estate planning documents, but this is not always necessary.
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