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1 Transfer fees and filing fees are extra expenses often required when preparing an irrevocable trust. 2  There may also be charges and legal fees when changing names on investment accounts and other assets as well as on insurance policies. 3  Transfer fees can cost $20 to $100 depending on the transaction. Fees. 2  Having a lawyer draft an irrevocable trust involves a range of services that are conducted for a fee. 3  While legal costs vary from one location to another, many irrevocable trusts can cost $500 to several thousand dollars.
In an irrevocable trust, the grantor gives up the right to revise, amend or terminate the trust without the permission of the beneficiary. An irrevocable trust is best used as an estate-planning ...Taxes.he grantor, having transferred assets into the trust, effectively removes all of his or her rights of ownership to the assets and the trust. This is the opposite of a revocable trust, which allows the grantor to modify the trust. Next Up.