People should ask questions to better shape their estate plans and trusts.
The best way to learn is to ask questions.
If you have spent any time around young children, you may have felt overwhelmed by the barrage of inquiries they make in a day.
This curiosity is an important aspect of being human and growing.
According to a recent Forbes article titled “If You’re Asking What a Trust Costs, You’re Already on the Wrong Path,” asking questions is also important for adults.
The average American does not understand the nuances of estate planning.
Many believe the cost of the plan is the only notable factor.
With this mindset, people often limit their inquiries to a single question about price.
Doing so can undermine effective planning.
Estate plans and trusts are not standardized products.
They require customization to effectively meet the needs and goals of individuals and their families.
Common considerations include family dynamics, assets, tax situations, and personal goals.
Because trusts are highly personal, they require clarity around objectives, estate planning strategies, and trust structures.
After the various elements have been defined, the language and provisions of the trust can be personalized.
Questions to ask when working with an experienced estate planning attorney should address trust goals, structure, jurisdiction, and funding.
Identify whether you would need multiple trusts to accomplish your goal by asking “how many trusts should be created?”
You should also ask about what assets to include in the trust and how to best transfer the assets to and from the trust.
For example, transfer options may include sales or gifts.
You should consider whether you want beneficiaries to have some or no control over the trust management.
You will need to define your own level of control by asking “what level of control should the settlor creating the trust have?”
You will also need to ask and identify the state where the trust will be created to ensure it aligns with appropriate laws and addresses tax risk related to state and local inheritance, estate, gift, or income taxes.
The answers to these questions and those governing whether you include charitable elements will ultimately shape the creation of the trusts.
Although it may be tempting to avoid considering all of these elements and to create a simpler plan, doing so may backfire.
Boilerplate trusts or estate plans may seem easier, but they can create more costs for families, more tax vulnerabilities, fewer protections around creditor claims, and more family conflict.
Yikes!
If the only trust element you care about is the price of the document, you will likely create issues for yourself and others.
A poorly designed trust can lead to devastating consequences and could cost you and your loved ones more in the future.
Although expense is a factor, it should be weighed in accordance with answers to other important questions about trust structures and your goals.
People should seek to ask and answer relevant estate planning questions as they work with an experienced estate planning attorney to outline the purposes for their trust planning.
These answers will help define structures and strategies to make the comprehensive estate plan more effective and protective.
Although people may be tempted to choose a simpler and less costly plan to save money, they may find the plan costs them more in the future than a slightly more expensive but more personal and effective trust.
This post is for informational purposes only and does not provide legal advice. You should consult an attorney for advice on any specific issue or problem. Nothing herein creates an attorney-client relationship between Harvest Law KC and the reader.
Reference: Forbes (June 28, 2026) “If You’re Asking What a Trust Costs, You’re Already on the Wrong Path”
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This statement is required by rule of the Supreme Court of Missouri.
