Russ Cook & Associates, PC
view our Practice areas

3 critical mistakes to avoid when setting up a trust

Estate planning is an area of law where people can easily get confused and overwhelmed. Add to this the fact that it can involve uncomfortable subject matter, and it can prove to be a much more challenging process than people anticipate. However, all this is not to say you should ignore or minimize the importance of having a comprehensive estate plan in place.

If you do not take estate planning seriously and spend some time crafting a satisfactory plan, you could be making some costly mistakes for which your loved ones could ultimately pay the price. For instance, in the context of a trust, there are missteps that could make your trust planning ineffective.

  1. Failing to fund the trust-Deciding to set up a living trust can a be a great decision. However, if you never transfer any property into that trust, then the trust can be useless. As this FindLaw article suggests, be sure you follow through with procedures to fund the trust so that your loved ones can benefit from it.
  2. Setting up the wrong type of trust-Trusts can accomplish various planning goals, depending on the type of trust you establish; they are not all created equal. As such, you should think carefully about who the trust is for, what the tax implications might be and whether you want to maintain control over the trust in your lifetime. These and other factors can help you find the trust that best suits your needs and goals.
  3. Making the wrong rules-Administering a trust can be enormously complicated if the person who made the trust set confusing or unwise rules. You might want to be cautious when deciding when and how much of the trust to release, as well as who you want to have as the trustee(s) to avoid any fights or unwise spending.

To avoid these and other mistakes when it comes to establishing a trust, you can consult an attorney familiar with estate planning processes and laws. With legal guidance, you can be confident that your trusts -- and the other elements of your estate plan -- do what you want them to do.

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying About Us

  • “Everyone we came in contact with was wonderful. The staff and Russ treated us like family at all times.”

    - June S.
  • “Being new to the area having moved from out of state, I was searching for an attorney to assist in elder estate planning for my mother. I was referred to Russ Cook & Associates and found the firm as a whole and Russ Cook himself to be very helpful and accommodating to my needs, as well as experienced and very knowledgeable on the matter I was seeking assistance. I would definitely recommend Russ Cook and Associates.”

    - Brad H.
  • “Mr. Cook and his staff were phenomenal to work with on my will. They are extremely professional and friendly and made the process seamless. They go above and beyond!”

    - Amber C.
  • “Russ took the time to answer my questions by email, so that I knew exactly what would take place when I visited his office and his time as well as mine was used efficiently. I appreciated his thoroughness and his professionalism, as well as that of his staff.”

    - JoAnn G.
  • “Overwhelmingly positive experience.”

    - Stephen W.
Email Us For A Response

Schedule An Initial Consultation Today

Contact us today to schedule a consultation by sending us an email or by calling 615-200-9117.
We assist clients throughout the Nashville area.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Brand Contact

5141 Virginia Way
Suite 220
Brentwood, TN 37027

Phone: 615-200-9117
Fax: 615-370-5938
Brentwood Law Office Map

Office Hours:
Monday: 8:00 AM – 4:30 PM
Tuesday: 8:00 AM – 4:30 PM
Wednesday: 8:00 AM – 4:30 PM
Thursday: 8:00 AM – 4:30 PM
Friday: 8:00 AM – 4:30 PM

Summer Hours Office:
8:00 AM - 1:00 PM on Fridays
May 24th Through August 30th

Map Image