Legal Question in Wills and Trusts in Nevada

Revocable Living Trust

Our families trust was established 2 years ago. All our assets were properly transferred into the trust. We are now receiving correspondence from our lawyer to pay a maintence or funding fee...We actually have one update to our trust, there is a real estate subtraction. However, if it's possible we would simply like to make the changes ourselves...Where are the resources to change the trust ourselves or do we have to use a lawyer? We also need to know if the trust just exhists until we die as is or are there fees or some kind of gov. charges...I can't understand why we need the lawyer for $400 a year, unless there are regulating rules for living trusts that we don't know about...


Asked on 4/16/09, 5:20 am

1 Answer from Attorneys
Jonathan Reed Reed & Mansfield

Re: Revocable Living Trust

It sounds like the fee your lawyer wants to charge you is like a doctor's actual annual check-up. There could be something worthwhile in having your lawyer meet with you annually and go over your estate plan--because many peoples' finances and assets change in the course of a year, along with the financial situation of their beneficiaries--, but you can probably do okay without it. Have you asked your lawyer what the benefit to you of this service and fee is? Lawyers are in the service business and shouldn't mind a question about the cost/benefit analysis of a service and fee they are proposing to you.

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Answered on 4/16/09, 9:35 am


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