Legal Question in Wills and Trusts in Maine
Revocable Trust
Changing land and property to a revocable trust. How long , and the cost involved
Asked on 10/29/07, 1:10 pm
1 Answer from Attorneys
Jerome Gamache
Ainsworth Thelin & Raftice, P.A.
Re: Revocable Trust
I am not sure by the question if there is already a trust established, or if one needs to be set up in addition to the real estate work.
If the trust is already set up, then the deed can be done in a matter of a few days for a standard deed prep fee of $175 plus any time that is need to consult regarding any applicable legal issues (mortgage on the property, improvident transfer analysis, etc).
A trust should not be set up without proper inquiry into estate planning, so that process could cost more or less than $1,000 depending again on the particulars if it is needed.
Answered on 10/29/07, 1:30 pm