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WHAT IS THE COST TO CREATE AN INCOME CAP TRUST?

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Like most things, the amount of time and effort involved in setting up the Income Cap Trust will effect the cost. The cost can vary, especially if court time is involved to establish the trust or to have a conservator appointed. Also adding to the cost is the time the attorney spends drafting the trust and creating a distribution schedule that complies with the above mandatory distribution standards. Establishing an Income Cap Trust is not an inexpensive proposition. However, using a "cost versus benefit analysis," even though the process involves an up-front cost, making the person eligible for benefits will repay the costs of establishing the trust in a very short period of time.
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