Consult an Attorney Before You Make a Trust
The provisions of any type of trust are usually complex. Even if you have experience dealing with many different types of legal matters in business, it is unlikely you will be able to successfully establish a trust without an attorney.
After the trust is drafted and executed, there are several additional steps that must be taken to fund the trust. These steps often involve changing how you hold title to property and how accounts are registered, naming new beneficiaries of insurance policies, executing trust transfer deeds, etc.
When creating a trust as part of a tax strategy, the trust document can be even more complicated. Consult an estate planning attorney when considering any type of trust. If you attempt to set up a trust on your own and miss important details, it can have disastrous effects on the distribution of your estate, including adding the costs and delays associated with probate and possibly even estate taxes, generation skipping transfer taxes or gift taxes.
While one of the most popular types of estate planning trusts is the revocable living trust, there are many other types of trusts which may be useful in your estate plan. Other forms of trusts used in estate planning include: