Will vs Living Trust Cost Calculator
Example: Cost to draft a will: 500 $ · Cost to set up a living trust: 2500 $ · Estate value: 500000 $ · Expected probate cost (% of estate): 5 %
| A trust saves your heirs | $23,000 |
| Will + probate total cost | $25,500 |
| Living trust total cost | $2,500 |
| Probate cost avoided | $25,000 |
Worked example
Suppose a will costs $500 to draft and a living trust costs $2,500. On a $500,000 estate with 5% probate exposure, the will path really costs $500 plus $25,000 of probate — about $25,500 that comes out of the estate. The trust path is a one-time $2,500 and skips probate. The trust saves the heirs roughly $23,000. For a small estate with minimal probate exposure the math flips, and the cheaper will can be the better choice.
Frequently asked questions
Is a living trust always worth it?
No. A trust pays off when the estate is large enough that avoided probate costs exceed the extra setup expense, or when privacy and avoiding court delay matter. For a modest estate that qualifies for a simplified probate process, a well-drafted will can be the smarter, cheaper option.
Do I still need a will if I have a trust?
Yes. Estate planners recommend a pour-over will alongside a living trust to catch any assets you did not move into the trust and to name guardians for minor children. The trust handles distribution; the will is the safety net.
Why does a trust avoid probate?
Assets titled in the name of a living trust are legally owned by the trust, not by you personally, so at death they pass under the trust's terms without court supervision. A will, by contrast, must be validated and administered through probate.
What is probate exposure?
It is the share of your estate that probate costs — attorney, executor, and court fees — would consume. This tool lets you set it as a percentage because it varies widely by state; 3 to 7% is a common range.