Do you need a lawyer to create a trust?

While lawyers are able to complete paperwork for trusts, it's not a requirement to use an attorney, according to Nolo. As of 2015, lawyers charge between $1,200 and $2,000 to complete the process, while an individual can buy an instructional book for $30 or complete the paperwork online for $60.

Preparing a trust is about as elaborate as preparing a will. Before sitting down to draw up a trust, the individual creating the trust needs to know who is to manage it, named the trustee, who is often the person creating it; the successor trustee, who manages the trust after the trustee's death; and the beneficiaries of the trust. The successor trustee is often a spouse, friend or grown child, notes Nolo.