Can You Set up a Trust Without an Attorney?

With today’s rising costs, some people consider setting up a trust without an attorney. But while online tools or DIY templates can work for simple revocable living trusts, more complex estates could benefit from professional legal help. Doing this could help you avoid potential mistakes that might delay distributions or create legal disputes among beneficiaries.

A financial advisor with estate planning expertise can assess whether a trust should be a component in your estate plan.

What Is a Trust?

A trust is a legal arrangement that allows one party, known as the trustee, to hold and manage assets on behalf of a beneficiary. The person who creates the trust, known as the grantor or settlor, outlines specific instructions for how and when the assets should be distributed.

Trusts can be revocable or irrevocable.

• Revocable trusts are subject to change or dissolution by the grantor.
• Irrevocable trusts are generally final and not subject to change once established.

Unlike wills, many trusts avoid probate, speeding up the timeline and allowing for a private transfer of assets. Trusts can also be used to manage assets during the grantor’s lifetime, not just after death.

Some trusts suit specific purposes, such as providing for a child, supporting a person with special needs or reducing estate taxes. The flexibility and structure of trusts make them a tool for asset control, privacy and tailored distribution.

Who Can Create a Trust?

Any individual with legal capacity—typically meaning someone over the age of 18 and of sound mind—can create a trust. A person creating a trust must be able to clearly define the terms of the trust, name a trustee and identify beneficiaries. There is no wealth requirement, although trusts are more common with those holding significant assets or who have specific estate planning goals.

Couples can also create trusts. Joint trusts are a popular option, allowing both spouses to serve as co-grantors and co-trustees during their lifetimes. In some cases, entities like businesses or nonprofits may create trusts for specific operational or charitable purposes.

Regardless of who creates the trust, the process involves drafting a formal document outlining the management and distribution of assets. While attorneys often assist with this process, individuals may draft their own trust documents, provided they comply with state laws and clearly express their intentions. Some opt for software or online platforms to generate legally valid trusts without professional help.

How to Create a Trust Without an Attorney

Creating a trust on your own involves several key steps, each of which plays a role in making the trust legally valid and functional.

1. Choose the Type of Trust

The first step is deciding which type of trust you need. A revocable living trust is the most common choice for individuals managing their own estate planning without legal help. It allows you to retain control of your assets during your lifetime and make changes as your circumstances evolve.

Other types, such as irrevocable trusts, are more complex and generally not recommended for DIY setups due to their permanent nature and potential tax implications.

2. Draft the Trust Document

Once you have selected the trust type, the next step is to draft the trust agreement. This document must clearly identify:

• Grantor (you)
• Trustee who manages the assets (you can serve as your own trustee)
• Successor trustee to take over if you become incapacitated or die
• Beneficiaries who will receive the trust assets
• Distribution terms, including when and how beneficiaries inherit
• Specific instructions for handling assets, debts or unique circumstances

Many online legal services and trust software programs offer templates tailored to your state’s laws. However, you will still need to fill in the details carefully to ensure the document accurately reflects your wishes.

3. Sign and Notarize the Document

After drafting, you must execute the trust, according to your state’s rules. Most states require your signature as the grantor and a notary public to witness the signing. In some cases, you may need to provide additional witnesses.

Failing to follow these steps may render the trust invalid. If you are unsure of the requirements, check with your state’s probate or estate division or use a service that guides you through the execution process.

4. Fund the Trust

Creating the document is not enough; the trust must also hold assets in order to function.

Funding the trust means transferring ownership of your property into it. This may involve:

• Real estate: Drafting and recording a new deed transferring ownership to the trust
• Bank and investment accounts: Changing the account title to the name of the trust
• Vehicles: Updating titles if allowed by your state
• Personal property: Creating an assignment of ownership to the trust

This step is often overlooked in DIY trusts, but it is what gives the trust legal power to manage your assets.

5. Store the Document and Inform Key People

Once you complete and fund your trust, keep the signed document in a secure but accessible location. Provide copies or at least key details to your successor, trustee and other relevant parties, such as financial institutions or insurance providers. Make sure your successor trustee knows where to find the document and has access to the trust’s assets when needed.

While you can do all this without an attorney, it requires strict attention to detail and a thorough understanding of estate planning terms.

Creating a Trust Online

Several online platforms offer tools to help individuals create a trust without hiring an attorney. These services vary in complexity, price and customization options. Some suit straightforward estate planning needs, while others offer add-ons, such as attorney consultations or document review.

These are some popular online platforms to set up a trust.

• Trust & Will: This user-friendly platform focuses on revocable living trusts. Prices are $499 for individuals and $599¹ for couples with payment plans available. Plans include digital storage and the option to share documents with trustees and beneficiaries.
• LegalZoom: LegalZoom provides customizable trust documents starting at $399². It offers a range of estate planning services, with the ability to add legal advice for an extra fee.
• Quicken WillMaker & Trust (by Nolo): This downloadable software suite has a one-time fee starting at $109³. It includes a revocable living trust template, along with a will, power of attorney and other estate documents.
• Rocket Lawyer: This offers a membership-based model that is free for the first seven days, and then prices start at $39.99 per month⁴. There is access to a living trust template, plus members enjoy free document review by actual attorneys.
• DoYourOwnWill.com: This free platform includes basic estate planning documents, including simple trust forms. It best suits individuals with uncomplicated needs.
• FreeWill: This also offers free estate planning documents. Although it is primarily focuses on wills, it includes some trust tools when paired with partner institutions or charities.
• Fabric by Gerber Life: Fabric by Gerber Life also provides free online wills with some basic trust planning features. This is a service aimed at young families and new parents.

Risks of Creating a Trust Without an Attorney

Creating a trust without legal guidance can lead to mistakes that may affect the handling or distribution of your assets.

One common issue is unclear or incorrect language in the trust document, which can create confusion for trustees or lead to disputes among beneficiaries. Additionally, some assets may not properly transfer into the trust. This is an oversight that could send them through probate, undermining one of the trust’s key functions.

Tax implications can also be overlooked. Certain types of trusts, especially irrevocable ones, may trigger gift taxes or affect eligibility for Medicaid or other benefits. State laws vary, and using a generic template may not reflect the specific legal requirements for your state. Choosing the wrong type of trust or failing to include a successor trustee can further complicate matters.

While online platforms can assist with basic documents, they often fail to provide tailored advice. For individuals with blended families, large estates or unique financial circumstances, errors in setup or execution can be difficult or expensive to correct after the fact.

Bottom Line

You can create a trust on your own using online tools or DIY templates, which may be enough for straightforward estate plans with simple assets and clear instructions. The process typically involves choosing the type of trust, listing assets, naming a trustee and beneficiaries, and completing the necessary documentation in line with state laws. However, trusts involving multiple properties, business interests, tax considerations, or complex family arrangements can present challenges that are easier to address with legal expertise.

Estate Plan Tips 

• A financial advisor can provide valuable guidance when drafting a POA so that it aligns with your specific needs and circumstances. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• While it may be tempting to save some money and plan your estate by yourself, you should still be careful with these DIY estate planning pitfalls.

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