General Trusts in Texas
The use of trusts in Texas for estate planning has been an increasing trend over the past several decades; however, it is important that clients understand both the advantages and disadvantages of the use of trusts in estate planning. A proper attorney drafted trust in the right situation can provide a client many benefits and meet some critical needs in in the estate planning process.
While often times a will is the best solution for estate planning purposes, there are situations where a trust is the appropriate choice. The major components of any trust include a trustee (person who manages the trust), grantor or trustor (person who creates the trust), beneficiary (person(s) who receives benefits of the trust, and a properly drafted trust agreement. Some of the trusts that we assist clients with include:
- Revocable Living Trust
- Educational Trusts
- Testamentary Trusts
- Crummey Trusts
- Irrevocable Life Insurance Trusts
- Spendthrift Trusts
Trusts can certainly be the correct choice for many when considering options for estate planning. Improperly managed trusts can also create causes of actions against the trustee. It is wise to use a probate attorney to navigate the formation of trusts or trust related litigation. Feel free to use the form below to request a free consultation or call our office during regular business hours.