FAQs About Trusts

What is a Spendthrift Trust?

As parents, we all do our best to instill our good values in our children. But sometimes, despite all our guidance, our children make poor personal and…

FAQs About Trusts, Trusts

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…

FAQs About Trusts, Trusts

What is a Crummey Trust?

When I tell some of my clients they should consider Crummey Trusts for their beneficiaries, there is typically an awkward pause. “Why would I want to create a…

FAQs About Trusts, Trusts

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…

FAQs About Trusts, Trusts

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…

FAQs About Trusts, Trusts

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,…

FAQs About Trusts

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…

FAQs About Trusts

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…

FAQs About Trusts

What Assets Are Protected From Creditors in Texas?

I get a lot of calls and emails from individuals interested in protecting their assets by creating a trust for their own benefit. Often, they do not…

FAQs About Trusts

Should I Designate My Children’s Guardian as Beneficiaries of My Life Insurance Policy?

I spoke to a young mother several weeks ago who wanted information on how to legally name a guardian for her minor children. She explained that…