Great user name! Yes, we set up a trust shortly before our second daughter was born. It’s probably time to take another look at it since it’s been more than ten years.
My top concern was explicitly noting our preferences for guardianship should we both perish. We also wanted to ensure that whoever adopted them would have access to “supervised” financial resources. Yes, we should trust the people chosen as guardians, but pragmatic parents will want to ensure a system is set up to verify that such resources are being used for the kids’ benefit.