Creating a living trust for free requires gaining knowledge in cost-effective ways and writing the trust yourself, explains Nolo. Putting together a living trust often includes help from an attorney, which can cost over $1,000, as of 2015. While creating your own living trust can be free, you might pay a small fee to file it online or to get a book for writing it manually.Continue Reading
If you file your own living trust, the most you might pay is about $30 for a book that explains how to do it, notes Nolo. There is a slightly higher fee for someone who wants to file it online by simply filling out the requested information. Paying a lawyer to file it is often easier and eliminates mistakes, but is considerably more expensive.
Some information included in the living trust includes the names of the person writing the living trust, the person who manages the trust and the person who would take it over if the owner becomes incapacitated or dies, according to Nolo. The person creating the trust is the trustor or grantor; if you create your own trust, enter your own name. Someone managing the trust is a trustee, which can also be yourself. After filling out this information, sign the trust and get it notarized. This might also require a small fee.Learn more about Financial Planning