Trusts

A trust is a powerful estate planning tool that allows you to protect your assets, provide for your loved ones, and avoid probate. Whether you’re planning for long-term wealth management, caring for a loved one with special needs, or seeking to minimize estate taxes, Texas and North Carolina trusts can help you achieve your goals.

Unlike a Will, which must go through probate, a trust can provide greater control, flexibility, and privacy over how your assets are managed and distributed.

What Is a Trust?

A trust is a legal arrangement where a trustee manages assets on behalf of beneficiaries according to the terms you set. Trusts can be used to:

• Avoid probate and simplify the transfer of assets
• Provide for minor children or family members with special needs
• Protect assets from creditors or lawsuits
• Minimize estate taxes and preserve generational wealth
• Control distributions over time, ensuring responsible management

Types of Texas and North Carolina Trusts

The right trust depends on your specific needs and goals. Here are some common options:

Revocable Living Trust

A revocable living trust allows you to maintain control of your assets during your lifetime while ensuring a smooth transition to your beneficiaries after your passing. This type of trust is amendable and revocable and can help your estate avoid probate.

Irrevocable Trust

An irrevocable trust offers asset protection and potential tax benefits, as assets placed in the trust are not part of your taxable estate. Irrevocable trusts are a valuable tool for those seeking to protect wealth for future generations while ensuring financial security for their beneficiaries.

Special Needs Trust

A special needs trust provides financial support for a loved one with disabilities while preserving their eligibility for government benefits like Medicaid or Supplemental Security Income (SSI).

Testamentary Trust

A testamentary trust is a trust that springs to life after your death. This type of trust helps provide for minor children or beneficiaries who need structured asset distribution.

Do You Need a Trust?

If you want to avoid probate, protect your assets, or ensure long-term financial security for your loved ones, a trust may be the right solution. Trusts provide more flexibility and control than a will alone, making them an essential part of many estate plans in Texas and North Carolina.

Guidance on Trusts & Estate Planning in Texas and North Carolina

At Rania Combs Law, we help individuals and families in Texas and North Carolina create customized estate plans using trusts. Whether you need a revocable living trust, special needs trust, or asset protection trust, we can guide you through the process.

Below, you’ll find important trust-related topics, including articles on trust formation, probate avoidance, and trust administration in Texas and North Carolina. Explore these resources to learn more.