Living Trusts in Texas
The Revocable Living Trust ("Living Trust") has become one of the most popular tools for estate planning in Texas. While a living trust does make sense in some situations, the living trust solution is not necessarily right for everyone. It is important that a person consult with an attorney about their specific situation prior to selecting the estate planning tools right for them.
Often times a will is the best solution for estate planning purposes; however, there are situations where a living trust is the right choice for a person. A living trust functions as such: A person executes a trust document naming the person as the trustee and the beneficiary of the trust. The person is entitled to as many distributions from the trust as desired, and upon passing, a person owns nothing subject to probate. Some of the reasons a person might choose to form a Living Trust in Texas include:
- Predisposition to Becoming Incapacitated
- Ownership of Real Estate Outside State
- Will Likely To Be Challenged
- Desire to Keep Estate Private
- Personal Preference to Avoid Probate
A living trust can certainly be the correct choice for many when considering options for estate planning. It is wise to use a probate attorney to navigate the estate planning process in Texas, and one should avoid sales people and lawyers that sell living trusts as a one size fits all solution. Feel free to use the form below to request a free estate planning consultation or call our office during regular business hours.