What is the price of a trust in New York? Prices start at $1,500 for a pooled trust joinder, and can go up to over $10,000 for a complicated irrevocable trust with multiple property transfers and a defensive strategy. An average price for an irrevocable trust is $6,000. The price for a special needs trust is usually less than other types of trusts. The price of a trust in New York depends on a number of factors.
The following factors would raise the price of a trust:
Here are some examples. The price for a complex New York trust that is an irrevocable trust with Medicaid asset protection, a sizeable trust estate and multiple property transfers that form the funding of the trust would be more than the price of a special needs trust. The price for a trust that needs court intervention would be higher, because an attorney would need to include their hourly rate as part of the price of the trust. A trust that includes unanticipated work would have a higher price as well. An average hourly rate for an attorney is about $400 per hour.
A trust where a relative is being left out will have a higher price, as additional protection and safety measures will increase the procedure involved, and the attorney may have to appear in court in the future to testify to the validity of the trust.
The numerous benefits of a trust more than justify a price of trust in New York. As a reminder, here are some of the benefits:
If you would like an estimate the price of your trust in New York, you can give me a call at (212) 233-1233 or 212-233-1233.