Quick Look
- Much like a will, you can either hire an estate attorney to help you set up a trust or…
- You can use an online trust maker that will walk you through the process of creating the legal document and inform you of any final steps you need to take to get it finalized.
- Given the complexity of setting up a trust and funding it, many people are more likely to set up their trust with an estate attorney.
Contents
Top Online Trust Makers
Below are some of the top online trust makers.
- Total Legal
- LegalZoom
- Rocket Lawyer
- Nolo WillMaker & Trust (software download only)
Details
If the needs of your trust are fairly basic, you can opt to create a trust from an online or software-based trust maker. Once you create the document, there may be a few additional steps you’ll need to take outside of the online tool or software program (for example getting the document professionally notarized).
Note that creating the trust is just the first step. A common mistake for people creating their own trust, is to create the legal entity, but forget to “fund it.” In other words, the trust exists but it contains no assets. For this reason and others, even with a fairly basic trust, it may be worth hiring a professional.
If you do opt for an online trust maker, we recommend reading Investopedia’s most recent review before making your selection.
Action
Once you’ve created and funded your trust, make sure it is fully legal by getting it signed and notarized, then check this task off your MoneySwell Financial Priorities action plan.
in Boulder and San Diego.