Bank of America Private Bank has found that most families overlook five critical questions that could unravel their trust plans later in life. These include a vague definition, a missing succession clause, or an overly rigid distribution schedule. The most dangerous flaw is ambiguity, which often hides in a single word. The legal definition of “children” varies from state to state and may not include stepchildren or children born through assisted reproduction. A simple letter explaining the personal reasoning behind specific decisions could prevent years of family conflict over your trust. The Trust & Will 2026 Estate Planning Report found that trust ownership among Americans has increased from 11% to 14% between 2025 and 2026. The estate and gift tax exemption for individual individuals has increased to $15 million per individual under the One Act.