We just did a revocable trust for our estate, the lawyers’ fees were about $6K for setup. You should compare the setup cost plus the cost of your own lawyer’s fees for settling an estate with the cost of statutory probate fees (e.g. for us in CA these would be about $13K on a $500K estate, assuming your retirement accounts stay outside it, see The total cost of probate in California in 2024).
Our lawyer suggested that our total costs outside of probate could be lower (though you’d still need to hire a lawyer to help), but that might not be the case in other states with a smaller estate and lower statutory fees (high house prices often make statutory probate a costly business in CA, typical costs could easily exceed $30K, whereas private lawyer’s fees were estimated at around $15K). The formal probate process can also take longer to reach a resolution.