What are the risks of having a trust?

Risks include trustee competency, risk management, loss of control, improper trust structuring, lack of trust administration, and more. This is the reason why crafting of the trust agreement and selection of trustees is so critical. In fact, it is EVERYTHING. In addition to that, certain types of trusts have more risk than others, as previously mentioned, because many trust attorneys may liberally interpret statutes to sell products to clients, raising serious ethical questions.