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…

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

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…

FAQs About Trusts

Does a Revocable Living Trust Protect Assets From Creditors?

Many people mistakenly believe that putting their assets into a revocable trust will shelter those assets from creditors. This is not the case. A revocable living trust…

FAQs About Trusts

I Have a Revocable Trust – Why Do I Need a Will Too?

If you have a properly funded revocable trust, you may not need a will. At the time of your death, your property will be managed and…

FAQs About Trusts

What Is A Contingent Trust?

If you have life insurance, there is a good chance no benefits will ever be paid. An insurance settlement is contingent on you dying during the term…

FAQs About Trusts

When Should I Use a Revocable Trust?

A couple of weeks ago, I explained that probate recently got more private in Texas. In the past an estate’s representative was required to file an…

FAQs About Trusts

Can a Settlor Revoke or Modify a Trust?

Whether a Settlor, the person who creates a trust, can revoke or modify it depends on if the trust is irrevocable or revocable. According to Section 112.051…