Jerry Taylor explains you can add assets to your revocable trust yourself without paying a lawyer each time. Just title new purchases like homes or cars directly in the trust's name. He recommends reviewing the trust every three years, which he offers free to clients.
So this is a great question. Essentially, do you have to pay your lawyer every time you want to add an asset to your revocable trust? The answer is no. You can do that on your own. Some people want me to add all their assets to their trust, and I'll do that, but that's just more expense that is unnecessary. You can do it on your own, and it's not that hard to do. For instance, if you buy a new home, just buy it in the name of the trust. Buy a car, buy it in the name of the trust. Any asset that you acquire in the future, if it has title to it, just buy it in the name of the trust. You do that yourself. It doesn't cost any additional money whatsoever. With the trust that I do, revocable trust, I do recommend highly that they were reviewed at least every 3 years by me and the client, and I do that for free. But as far as just funding the trust and adding in trust on, you know, putting in assets along the way, there is no additional expense for doing that, and you can do it yourself for no money. I'm smoking this afternoon
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