Sources and Documents for Setting Up A Revocable Living Trust

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To create a revocable living trust, you have several source options for obtaining legal documents, each with varying levels of cost, customization, and legal support:

  1. Law Firms or Estate Planning Attorneys:

  • Advantages: Customized to your specific needs, legal advice included, and assurance that all legal formalities are correct.

  • Process: Schedule a consultation, discuss your estate plan, and the attorney will draft the trust document.

  • Cost: Generally the most expensive option but offers comprehensive service and peace of mind.

References:
a) legal templates
b) legal zoom for california
c) legal zoom for virginia

  1. Online Legal Services:

  • Advantages: Lower cost than a traditional lawyer, still provides some level of customization, often includes access to legal advice or document review by attorneys.

  • Process: Use platforms like LegalZoom, Rocket Lawyer, or Nolo where you answer a series of questions online, and the service generates your legal document based on your answers.

  • Cost: More affordable than hiring a lawyer directly but still involves a fee for document creation and any additional services like attorney review.

  1. Do-It-Yourself (DIY) Legal Forms:

  • Advantages: Least expensive option; provides the basic framework for a trust.

  • Process: Free or low-cost forms can be found on websites like FreeWill or through software like WillMaker & Trust by Nolo. You’ll need to fill in the details yourself, and it’s essential to understand legal requirements.

  • Cost: Often free or very low cost, but there’s a higher risk of errors or omissions without professional input.

  1. Books and Guides:

  • Advantages: Educational, can be used in conjunction with DIY forms for better understanding.

  • Process: Purchase or borrow books on estate planning that include sample forms or guides to help you draft your own trust. Authors like Nolo provide detailed step-by-step instructions.

  • Cost: Relatively inexpensive, but you’ll need to invest time in learning how to draft the trust correctly.

  1. Government or Non-Profit Resources:

  • Advantages: Low-cost or free, designed to assist those who might not afford legal services.

  • Process: Some states or local government offices might offer basic legal forms or guidance. Organizations like AARP sometimes provide resources for seniors on estate planning.

  • Cost: Usually minimal or free, but might be generic and less tailored to individual circumstances.

  1. Software and Templates:

  • Advantages: Middle ground between DIY and professional services, offering templates that can be customized.

  • Process: Use software or download templates from reputable legal websites, then customize based on your situation.

  • Cost: Varies from free templates to software that might cost a few hundred dollars but generally less than hiring an attorney.

When choosing from these options, consider the complexity of your estate, your comfort level with legal documents, and whether you need professional advice. If you opt for less expensive or DIY methods, it might be wise to have an attorney review your documents to ensure they meet legal standards and fulfill your intentions.

Trust Templates

Assessment of Sample Trust Template Completeness

SAMPLE Revocable Living Trust.pages (383.1 KB)
SAMPLE Revocable Living Trust.pdf (203.2 KB)
SAMPLE Revocable Living Trust.rtf (81.1 KB)