While it is true that the legal fee to prepare a trust may be higher than preparation of a will, keep in mind that probate will most likely cost more in attorney’s fees, court fees, time and loss of control. In addition, you are likely preparing a trust for additional valuable benefits that far outweigh the cost of setting up the trust, such as protecting your assets, more specific control of your assets after your lifetime, minimizing the chance of a challenge to your will by a disgruntled family member, or minimizing taxes.
By Esther Schwartz Zelmanovitz
