In addition to the up-front cost of having an attorney prepare your living trust (usually far less than probate costs), unless you elect the do-it-yourself alternative, there are other aspects to consider:

1 – Cost and inconvenience of "funding" your living trust. Preparing the living trust document is relatively simple. You can also hire an attorney who is experienced with living trusts.

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DEAR BOB: More than two years ago, we had a minor roof leak in our house, which was repaired by a professional roofer. We observed no problems with the roof since then. When we sold our home last February, we didn't say anything about the roof repair when we filled out the disclosure form for our buyers. However, when a heavy rain occurred in late April, the roof leaked in the same spot. The buyers phoned us because they discovered the roof repair. We referred them to the roofer who said there was no guarantee on his repair work two years ago.  more...