There is good book on the topic for consumers from Nolo
The best advice, however, would be simply to speak to an experienced attorney in your area. You can easily find one here and many offer free consultations. Best of luck.
Roman Aminov, Esq.
Law Offices of Roman Aminov
147-17 Union Turnpike | Flushing, New York 11367
P: 347.766.2685 | F: 347.474.7344
Roman@AminovLaw.com | www.AminovLaw.com
This answer does not constitute legal advice and no attorney client relationship has been formed. Before choosing a course of action, it is always advisable to seek the advice of an attorney in your area.
The answer to your question depends a great deal on the circumstances. I have seen situations where these trusts could be set up for next to nothing. If your daughter is receiving government assistance, you need to be particularly careful so that your estate planning does not jeopardize her continued benefits. An estate planning lawyer can and should set this up for you. I would check with a number of attorneys in your area and see who you feel the most comfortable with.
*** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state.
As noted, the cost will be somewhat dependent on the circumstances. Are you setting up a trust that will be funded with your assets after you die, or are you setting up a trust for your disabled daughter which will assist her during her lifetime (and your own)? There is a significant difference between these forms of trusts - both in how they are structured and how much they cost. If she is receiving governmental assistance, it is imperative the proper type of trust be employed, and you will need a qualified estate planning attorney to make those decisions. You can find attorneys in your area by searing AVVO. Good luck.
NOTE: If you find this response helpful, please click on the â€œthumbs upâ€ button at the bottom. DISCLAIMER: THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT A QUALIFIED ATTORNEY.