Trusts

Trusts aren’t just for the wealthy. They offer practical benefits for many families, from avoiding probate to protecting a loved one’s inheritance. The right trust depends on your goals and circumstances.

What Assets Are Protected From Creditors in Texas?

I get a lot of calls and emails from individuals interested in protecting their assets. Some ask whether it would be beneficial to create an asset protection trust for their own benefit. Often, they do

Say What? Trust Terminology Defined

Lawyers use a lot words when talking about trusts, often assuming that everyone knows their meaning. But in speaking to clients and friends, I realized that many people outside the legal community don’t understand what

Texas Extends Rule Against Perpetuities to 300 Years

The Rule Against Perpetuities is the bane of every first-year law student’s existence. It provides: no interest is good unless it must vest, if at all, no later than 21 years after some life in

Should I Put My Guns to My Revocable Trust?

If you own guns, you may be wondering whether you should transfer them to your Revocable Trust. There are a couple of reasons why that is generally a bad idea. Reasons to Avoid Putting Guns

Is Married Beneficiary’s Interest in a Trust Separate or Community Property?

Texas defines separate property as property owned before marriage or acquired by gift or inheritance. For example, if you purchased a house before you were married, the house would be your separate property. Likewise, if

Do I Need To Record My Trust in Texas?

In Texas a trust is not a legal entity. Rather, it is a legal relationship in which a trustee holds legal title for the benefit of another person called the beneficiary. Unlike a corporation, which

What are the Responsibilities and Duties of a Trustee of a Testamentary Trust?

Wills sometimes create testamentary trusts, trusts that spring to life after the death of a testator. When a testator includes a testamentary trust in his Will, the testator has the opportunity to designate who will

What is a Testamentary Trust?

A testamentary trust is a dormant trust created in a Will.  It lies dormant until the death of the person creating it springs it to life.  Unlike a trust that you create and fund during

To Trust Or Not To Trust

Last Christmas, the only thing on my older children’s Christmas list was a laptop computer. As they have gotten older, school assignments have increasingly required access to one. Teachers post assignments online. Many assignments are

Living Trust Scams

Many of us have seen advertisements touting the benefits of a living trust. Salespersons who promote living trusts claim they can reduce taxes, protect assets from creditors, and reduce the time and expense of probate, seemingly

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