Jerry Taylor breaks down the true cost of dying: funerals average just under $13,000, and probate adds another $17,000 in legal fees over 6 months to years. A revocable living trust can cut probate costs to about 25% of that amount, with bigger savings for larger estates.
Okay, I don't know how many of you know this, but dying is expensive. Nobody likes to talk about dying, but not a one of you is going to be able to get around it, far as I know. Let me give you some facts from the National Funeral Directors Association. The average cost of a funeral these days is just under $13,000. And for people that die with a will or without a will, have to go through the 6-month or 2 or 3-year probate process, the average cost of that is around $17,000. I can't help you with the funeral expenses, but I can help you with the probate expenses. A revocable trust which will allow you to completely sidestep the probate process, will cost around 25% of that probate number. And if you've got a large estate, that probate number is going to be much, much larger. Save time, save money, save the hassle. Follow me.
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