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Wills & Trusts

Friday, October 23, 2020

What Are the Disadvantages of a Trust?


Trusts have become an increasingly popular estate planning tool. Individuals with significant assets and complex family dynamics favor trusts to avoid the expense, public record, and protracted probate process.

However, as attractive as trusts can be for some, they aren’t the right choice for everyone. To make the proper estate planning decision for your family, Texas trusts attorneys strongly encourage you to consider not only the aforementioned trust benefits but also a few common disadvantages associated with trusts.

What are the Disadvantages of a Trust?

1.
Read more . . .


Thursday, September 24, 2020

What Are the Rights of a Trust Beneficiary in Texas?


The rights of the beneficiary of a trust in Texas will depend on the language of the trust and our state’s statutory and case law. Generally, the terms of the trust document will take precedence over the statutes about the duties of the trustee and the rights of the beneficiaries, but the Texas Trust Code sets some hard limits about how far the trust document can deviate from the statutes. Also, the type of trust and the type of beneficiary will affect the beneficiary’s rights.

If you have questions about the rights of a trust beneficiary in Texas, a Read more . . .


Monday, August 17, 2020

What Are Spousal Lifetime Access Trusts (SLATs)?


Trusts offer many advantages: avoiding probate, managing distribution of assets, and ensuring that your wishes are carried out after your death. However, you might wonder if there are any benefits trusts provide to the living? The short answer is “Yes.”

Texas trust attorneys have been working diligently to advise clients about the merits of Spousal Lifetime Access Trusts. Read more . . .


Monday, July 27, 2020

5 Things You May Not Know About Special Needs Trusts in Texas


Garden-variety estate planning will not get the job done when you have a child with special needs. You want to provide financial security for your child’s future, but if he inherits assets directly from you when you die, he might lose his eligibility for public assistance programs like Medicaid and Supplemental Security Income (SSI). Losing those benefits could cost him far more than the amount you give him in your will or through intestacy.

Estate planning laws in Texas and other states created a specialized type of trust that addresses this problem.

What You Should Know About a Special Needs Trust

A Special Needs Trust, also called a Supplemental Needs Trust, lets you arrange for some financial means for your child without jeopardizing his access to government benefits.
Read more . . .


Monday, May 18, 2020

Are Pet Trusts Available in Texas?


Yes, Texas law does allow people to plan for the care of their pets through pet trusts and other estate planning tools. A Texas pet trusts attorney can help you create the right documents to ensure that your beloved cats, dogs, and other pets will have the care they need in the event of an emergency and down the road, if your pets outlive you.

Pet Trusts in Texas

You have the option to provide for your pets in a traditional trust or a special type of legal device called a statutory pet trust.
Read more . . .


Friday, April 17, 2020

Using Trusts for Minors in Estate Planning


Minors cannot receive inheritances or property. Therefore, it is important to include provisions with an estate plan for a minor’s interest. Trusts are excellent tools for managing a minor’s interest in an estate until the minor is an adult. A


Read more . . .


Monday, December 16, 2019

How Does a Gun Trust Work?


Do you own guns in Texas? Are you interested in purchasing Title II firearms restricted by the National Firearms Act (NFA)? If so, you may want to discuss a gun trust with a Texas gun trust lawyer. A gun trust allows you to protect your guns during and after your lifetime without the issues that often arise after a gun owner's death.

What Is a Gun Trust in Texas?

A gun trust is a revocable trust created to hold title to your firearms.
Read more . . .


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