âBut the stars that marked our starting fall away. We must go deeper into greater pain, for it is not permitted that we stay.â â Dante Alighieri, Inferno
On average, the complete process of setting up an irrevocable trust should run anywhere from as little as $1,000 to as much as $7,000 for a complex setup. According to Lodmell.com, the cost of setting up an irrevocable trust can run anywhere from $2,500 to $7,500. Dummies.com states that an irrevocable living trust typically costs $1,000 to $3,000 for each individual. A Forbes.com report provides an idea of how much an irrevocable trust will cost to get a lawyer for estate planning purposes.
Hiring a Lawyer. If you want to have an attorney draw up the trust paperwork for you, it might cost as little as $1,000, but CNN Money puts the price range at anywhere from $1,600 to $3,000.Some lawyers will provide at least one or two ancillary documents free as part of the deal, however.tâs a fundamentally basic trust and it doesnât have to cost you and arm and a leg to set one up. If you want to get fancier, such as by creating an irrevocable trust that can shield your estate from taxation, it will cost you more.