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One of the biggest pitfalls for passing on wealth is choosing one child to control a family trust when siblings or other relatives would also benefit
Of course, it can fail in other ways. A friend and her brother, designated joint trustees of their Dad's estate, have not been on speaking terms since shortly after his death at the end of last year. As a result her lawyer still does not even know how much money (if any) is available to the trust in whatever accounts her Dad left behind, and she desperately needs access to it due to severe mental health issues that leave her unable to work. Her brother is quite wealthy but unwilling to provide significant help or cooperate with the trust funding process.