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. 

Summer vacation is almost over and as we get back into work mode, it’s a good time to refresh your memory and refocus your professional goals. There’s no better way to do this than to join the WealthCounsel community. Not only will you be a part of a nationwide community of professional attorneys, but you’ll also have access to unrivaled practice support and, of course, our intelligent document drafting software.