There is no single price for a trust in New Mexico, because trusts are not all the same product. What you are paying for, and what affects the cost, includes:
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The type of trust. A revocable living trust is the most common and least expensive type. Irrevocable trusts, special needs trusts, and business succession trusts are more complex and cost more.
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Drafting time. A trust for a single-property couple with two children differs from a trust for a blended family with property in two states. More moving parts, more drafting.
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Funding work. A trust only works if it is properly funded, which means retitling real estate and accounts. Some attorneys quote drafting separately from funding; others include it. Knowing what your fee covers matters.
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Supporting documents. A trust plan typically includes a pour-over will, financial power of attorney, and advance healthcare directive. These are often part of the package.
Be cautious of bare-bones online trust packages that quote a low number for a document alone. The document is the easy part. The funding, the supporting documents, and making sure everything coordinates with your beneficiary designations are where the real value of working with an attorney shows up. At Genus Law Group, we tell you what the fee covers, in writing, before any work begins.
If you would like a specific estimate for your situation, a consultation is the right next step. Call our Albuquerque office at 505-317-4455 or our Las Cruces office at 575-215-3500.
