A living trust is a trust you create while you are alive to accomplish certain goals, such as avoiding probate. A living trust is revocable, meaning that you can change or terminate the trust at any time and for any reason.
At Pursley McNamara & Flint, our attorneys draft living trusts for families in Sugar land, Missouri City and other communities in Fort Bend County, Texas. We offer a free initial consultation to discuss your estate-planning goals.
There are many reasons why a living trust may be right for you:
- You can retain full control of your assets while you are alive.
- You can avoid the time and expense of a probate proceeding by distributing trust assets directly to your beneficiaries upon your death.
- You can keep your family’s financial affair private.
- Beneficiaries may enjoy tax or other benefits, depending on how assets are distributed.
A trust is a legal property interest that you establish for a beneficiary. You can name yourself or another trusted person as the trustee. You can also name a successor trustee to step into your shoes after you are dead or incapacitated.
A living trust gives you full control of the assets held in trust. Unlike assets distributed under a will, assets held in trust do not have to go through the Texas probate process to be distributed to a beneficiary. This saves your beneficiaries time and money. Since probate is a public process, placing your assets in a trust for your beneficiaries will keep others from knowing what assets your beneficiaries are receiving.
For More Information About Living Trusts in Texas
For legal advice about living trusts, call our lawyers toll free at (713) 766-4326. You will receive our prompt attention.