Q:

How much should setting up a trust cost?

A:

Quick Answer

As of 2015, the cost of setting up a trust ranges between $1,600 to $3,000, CNN Money reports. A complicated trust plan generally costs more than a basic plan.

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Full Answer

A trust refers to assets that a person transfers to his beneficiary upon death, or when the beneficiary attains a certain age, notes Investopedia. The assets may be in form of cash, stocks, bonds or property.

A trustor usually pays for any modification that is done to the trust, notes CNN Money. Once a person dies, the trustee may impose the still-in-progress administrative charges. A trust plan comprises of setup, a health care proxy, a will and a living will.

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