Unbelievable it might seem, yet it is true that there are numerous people who think
just signing the trust solve the problem of going through the hazardous process of probate. Unbelievable it is, because the concept is far from reality and strange because even knowledgeable people fall prey to the lure. Years of research and analysis by experts in the trade have established the fact beyond any reasonable doubts that such processes fail to achieve even 50% success rates.
Gist of it all is that effective estate planning does not mean signing the trust alone.
Multiple reasons contribute to such effects. Trusts fail more often than not since the assets were never transferred under the control of the trust. In addition, selection of wrong trustees also contributes largely to the high failure rates of the trusts.
But wait; that is not all! Other very prominent reasons are there and perhaps the gravity of such reasons is heavier than the ones already mentioned. In majority of cases the trustees or the settler have little or no inkling about the multiple benefits they could enjoy with real planning for estate management. Nor they have ever contemplated using the services of a seasoned probate attorney that could guide them through the process conveniently and avoiding all hurdles coming on the way. Success of trust and estate management processes depend largely on intelligent decisions and that is where the failure cases were found to be wanting.
Importance of selecting the best of the Estate Planning Attorney cannot be undermined. Falling with some trust book salesman in the guise of estate attorney providing the client with boilerplate trust has become one of the common diseases in the field. More often than not such endeavor ends up in disastrous results for the client. Without proper consideration of the true requirements of the client such boilerplate trusts as well as the coordinating Trust Planning Attorney are normally destined to failure.