In revocable trusts, a written agreement or declaration appoints a trustee to administer property and gives detailed instructions on how property is to be managed and eventually distributed. If you do not plan to serve as trustee, you should consider those fees and weigh whether they should replace other expenses you are paying to manage assets. If you do serve as the trustee, a successor trustee will be appointed to carry out your instructions should you die or become incapacitated.
The expense of establishing a revocable living trust depends on how valuable and complicated the assets are. They are also affected by whether standard documents are used, how many assets must be transferred to a trustee, and if tax planning is required. Before having an attorney set one up, ask for an estimate in writing and compare it with the costs of a will and probating your estate.