Q&A
Asked in Orange, California
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Oct 2024
Why is it that the creation of an irrevocable trust costs way higher than what it costs to establish a revocable trust?
The quotes I keep receiving for creating an irrevocable trust are rather unrealistic, especially compared with other types of trusts, such as revocable ones. Although I am aware that the key difference between these trusts is the language used and the ability to modify the trust, I need to know the main reasons for the additional fees that are charged for irrevocable trusts. What makes the extra expense legitimate?
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