There are several types of trusts in Texas. We can help you establish your a trust that best suits your needs. Our estate planning attorneys will put together a plan that best matches your financial situation.
A testamentary trust is created under the terms of the grantor’s will. The trust does not come into existence until the grantor’s death and all property moved to the trust pass through probate. A grantor can change the trust by changing the terms of her will prior to her death.
Once created an irrevocable trust cannot be revoked or amended. the grantor can not change the recipients, remove assets, or alter the terms. An irrevocable trust is created with trust possessions, consisting of future appreciation, which are not included in the gross estate for estate tax purposes. An irrevocable trust has the ability to save substantial estate taxes.
We can work with you to create a strategic plan for your future.
Depending upon the type of trust you need, property can be placed in trust either through the probate process if included in a will, or deeded over to a trust.
A living trust can hold property as a legal entity to protect against certain situation. Property can be moved to trust throughout your life time.
Both can insure your assets will be handled to your instructions, but a trust can keep all you property private while a will is admitted to probate and is public.