When most people hear “estate planning,” they think of death.
But if you understand wealth the way truly wealthy families do, you realize that estate planning isn’t about dying. It’s about planning to live well across generations.
That’s why trusts are such a powerful tool. Yet, they’re also widely misunderstood.
In this part of our series, we unpack the most common mistakes people make with trusts, the myths that cost families everything, and how to build a structure that lasts long after you’re gone.
Myth #1: “We’re Not a Probate State”
If you’ve ever been told your state doesn’t require probate, I hate to break it to you, but you’ve been misled.
Probate exists in every state. It’s the legal process by which your assets get distributed if they’re not properly held in a trust or corporate structure. And it can be brutal: expensive, time-consuming, and emotionally draining for your family.
A properly structured trust is the key to avoiding probate, not because your state is special, but because the right legal tools protect your estate.
The Hidden Power of Trust Language
A trust isn’t just a folder of legal paperwork. The real power is in the language, what it says, how it says it, and how it’s interpreted.
Chris shared a brilliant personal example: inside his family trust, every child receives a check on their birthday from “Grandpa Chris,” even decades after he’s gone.
That one clause keeps his memory alive, creates annual moments of connection, and turns money into meaning.
But the trust goes beyond sentimental gestures. It includes behavioral guardrails and built-in strategies that prevent children or grandchildren from misusing wealth. For instance:
- If an heir drops out of high school? No payout.
- If they go to rehab? The family helps—but the check doesn’t come.
This isn’t about control. It’s about protecting your values, not just your assets.
$199 Trusts? Buyer Beware.
Let’s talk about what we’re seeing everywhere right now: cheap trust kits online promising to solve your estate planning in a few clicks.
These DIY trust documents may cost $199… but they can cost your family hundreds of thousands of dollars in mistakes. Chris personally had to dismantle and redo a trust that wasn’t legally compliant, a costly and painful lesson.
Without professional guidance, you’re likely missing:
- Proper titling of assets
- State-specific legal requirements
- Corporate integration (LLCs, S Corps, etc.)
- Powers of attorney and pour-over wills
- Trustee designation and family board planning
The truth? You need more than paperwork. You need a strategic team that includes:
- A local estate attorney (not just any attorney)
- A tax strategist
- A corporate structure expert
- An insurance professional
- And a facilitator who understands how to align them all
What Should a Trust Include?
Too many people think trust is just about “who gets what.” But an absolute trust goes much deeper.
Here’s what a robust, well-structured trust should contain:
Health and Financial Powers of Attorney: So someone you trust can act on your behalf before death.
Pour-Over Will: Catches anything outside the trust and ensures it flows in.
Insurance Provisions: To cover liabilities and protect from tax burdens.
Corporate Alignment: Your business and investments must align with the trust structure to ensure a seamless integration.
Behavioral and Educational Incentives: Ensuring heirs aren’t just wealthy but responsible.
Family Oversight System: A board or council that keeps decisions transparent and strategic.
Your trust isn’t just about the distribution of wealth. It’s the instruction manual for your legacy.
Start Sooner Than You Think
Don’t wait until you’re older or wealthier.
We start planning early. My children have learned how to manage money, set goals, and start businesses since they were old enough to count. By age 18, they’re joint signers on accounts, not so they can spend, but so the systems we’ve built don’t freeze if something happens to me.
We create a family of leaders, not dependents.
That’s what real wealth transfer looks like.
Final Thoughts: Build It Right or Pay the Price
The biggest mistake you can make with a trust is assuming it’s “just paperwork.” A cheap trust might satisfy a bank or financial advisor temporarily, but it won’t protect your legacy.
If you want to avoid court battles, probate, frozen assets, and family drama, you need to build a trust with:
- Professional guidance
- Clear strategy
- Personalized values
- Multi-generational vision
Your trust isn’t about how much money you have today. It’s about what kind of family you want to leave behind.
