Yes. You will be taking over the existing trust that is currently in place. It would be wise to check how many years are remaining in the existing trust, since it may be better to establish a new 50-year Bank trust instead.
The initial fee varies from bank to bank; therefore it is a good idea to get a quote from different banks.
Typically, the initiation fee is approximately $500.00 to $650.00 USD, plus an additional, annual fee to be paid in advance. This is almost always the same amount as the initiation fee.
The bank fees are often based on the value of the property, however many banks will typically negotiate a fixed price for a specific time period or for the period of the trust.