Living trusts prices

fuchsialady54

Just made a will, have a quote for a living trust inc POA. Is £5,400 + annual management fee excessive?

Daniel54

Are you dealing with an unregulated will writer or a qualified STEP solicitor ?  The former seems most likely as the fee sets off alarm bells.

What do you want a trust to achieve in your particular circumstances ?

poseidon1

fuchsialady54 said:

Just made a will, have a quote for a living trust inc POA. Is £5,400 + annual management fee excessive?

More to the point was is supposed to the subject matter of such a trust created during your lifetime? Your house?

Keep_pedalling

This sounds like a proposal to put assets in trust now rather than an immediate post death interest trust written in your will. If that is the case you should tell therm to stick it where the sun don’t shine especially if they are proposing putting your home in trust. 

Too many people have spent large sums of money doing this to avoid IHT and / or care costs and it has achieved neither but left an expensive mess for their loved ones to deal with after they have gone.

Look up gift with reservation of benefit and deliberate deprivation of assets. 

Marcon

fuchsialady54 said:

Just made a will, have a quote for a living trust inc POA. Is £5,400 + annual management fee excessive?

Yes if you don't the need trust and/or it won't achieve what you think it will achieve. In your own language (as opposed to legal jargon), what do you think it will do?