Tolstoy said, “all happy families are alike; every unhappy family is unhappy in its own way.” Since families and estates are so intertwined, Tolstoy’s maxim holds true in some degree for estate planning purposes. When planning for the distribution of their assets, no one wants to feel as if they’re involved in some type of legal mass production—being processed through an uncaring machine. Would you?

Trusts are technical legal instruments that require a keen eye and foresight on the part of the attorney drafting them. Should an estate planner fail to make certain considerations, not only can they undermine their practice’s integrity but also jeopardize a beneficiary's financial security. To avoid falling victim to their snare, below are a few common mistakes to avoid when drafting trusts for minors.

Ask any estate planning attorney—what is the most important thing that we need to know after someone dies? Their answer: we need to know the assets! This includes knowing what their assets are, who has legal authority over the assets, what the values are, and who will receive these assets.