Will vs Trust Cost Simulator

Results are hypothetical examples based on user inputs and generalized assumptions. They are for educational purposes only and not predictions of actual legal or financial outcomes.

Key Takeaways

1. Inputs matter more than opinions. Estate size, case complexity, state norms, and attorney fee ranges shape costs more than generic rules of thumb.
2. Probate is a cost and a delay function. Typical estates face percentage-based fees and slower access to funds; trusts may reduce those costs by bypassing probate for assets titled to the trust. 

How the Simulator Works (and Why a 10-Year Lens Helps)

The tool’s inputs mirror real decisions: estate size, complexity (simple/moderate/complex), state of residence, fee ranges, expected update cadence, and modest annual trust upkeep. With those, it estimates two paths:

• Will-only path: upfront drafting + periodic updates, then probate percentage applied to any assets that don’t pass via beneficiaries/TOD/JTWROS.
• Living trust path: higher setup and retitling (“funding”) costs, low annual maintenance, little to no probate on assets correctly titled to the trust.

A 10-year horizon is long enough to capture realistic update cycles and a representative probate event for comparison. That horizon also aligns with public estimates on planning costs (basic plans may cost a few hundred dollars; attorney-drafted, comprehensive plans often run $1,200–$4,000+, depending on complexity). 

So what? Looking only at setup fees understates the will-only path’s eventual probate drag. A decade-view keeps everyone honest.

What Drives Cost in Each Path

1) Estate size and “probate-exposed” share

Probate fees are commonly modeled as a percent of estate value, which is why a larger estate can tilt the math toward a trust even if the up-front attorney fee is higher. Public sources often cite 3%–7% as a typical all-in probate range; some cases take longer and costlier, especially with disputes. 

2) Complexity and state differences

Multiple properties, business interests, or beneficiaries across states add legal time and court interactions. That adds to either probate cost (will path) or funding/admin work (trust path). Practical estate-planning guidance agrees that complexity—not just wealth - raises the stakes for using trusts to reduce court involvement. 

3) Attorney fee structure and updates

Attorney-drafted plans vary: some flat-fee packages, some hourly. For context, consumer finance outlets report DIY kits as low as $40–$700 and attorney-led plans $1,200–$4,000 or more, again driven by scope. Updating documents every few years is healthy governance and part of the total cost. 

4) Time costs and liquidity friction

Probate isn’t just dollars. It delays distributions; Trust & Will notes some estates approach 20 months to wrap. For heirs who need liquidity, that delay can matter more than a one-time legal bill. 

This simulation uses generalized assumptions to estimate long-term costs of wills and living trusts. It is provided for illustrative and educational purposes only and does not reflect actual legal or financial outcomes. Results depend on individual circumstances, attorney fees, and state probate rules. This tool does not provide legal, tax, or financial advice. Consult a qualified professional before making estate planning decisions.