Quora Answer: Do You Need an Estate Planner to Set Up a Trust?

The following is my answer to a Quora question: “Do you need an estate planner to set up a trust?” 

Setting up a trust is no small thing.  You definitely need an estate planner to set it up for you, and draft the letter of wishes.  You need to consider whether you want a revocable or non-revocable trust, or whether there are specific needs, which may necessitate a blind trust, or a special needs trust.  You need to consider who you want as trustees, whether natural persons or even a law firm or bank.  There may be a requirement for a custodian bank.  There may be a requirement for an investment committee.  There are issues of compliance, insurance, and taxation to consider.  Unless you are in the industry, you are unlikely to have that knowledge.