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The assets in your last will will be subject to probate court, a time intensive and expensive legal process. A living trust in Louisiana can help you avoid these additional costs. Find out more about living trusts and how one could help you.

Assets that should not be used to fund your living trust include: Qualified retirement accounts ? 401ks, IRAs, 403(b)s, qualified annuities. Health saving accounts (HSAs) Medical saving accounts (MSAs) Uniform Transfers to Minors (UTMAs) Uniform Gifts to Minors (UGMAs) Life insurance. Motor vehicles.

The True Cost of a Revocable Trust First, there is a front-end cost to establish and fund the trust. Secondly, there is a back-end cost to ?administer? the trust after the death of the settlor. On the front-end, many promoters charge between $3,500 and $8,000 to establish a revocable trust.

Irrevocable Trusts Using an irrevocable trust allows you to minimize estate tax, protect assets from creditors and provide for family members who are under 18 years old, financially dependent, or who may have special needs.

Considering the current estate and gift tax exemption, the ability to utilize the annual gift tax exclusion, and there being no inheritance tax in Louisiana the vast majority of Louisiana residents do not need a trust to protect their estates from estate or inheritance taxes.

The price of making a living trust depends on the method you use to form it. One way is to use an online program and create the trust document yourself. This will cost you a few hundred dollars or so. You can also use the services of a lawyer, for which you'll probably pay more than $1,000.