Testamentary Trust Will

When preparing a will, many individuals want to make sure that those closest to them will inherit their assets. Sometimes, those closest to an individual, particularly minors and young adult children, may need special provisions on their inheritance in order to make sure that the assets left to them are used wisely. The inclusion of a testamentary trust in a will is a useful way to provide for the appropriate management of a child’s inheritance upon an individual’s death. Testamentary trust wills are essentially wills which include a trust that will be enacted upon that person’s death. The trust is left in the hands of a trustee, who will then be responsible for distributing the money to the heirs.

If you are thinking about creating a testamentary trust will and are seeking a qualified attorney for legal guidance, the Houston estate planning attorneys of Garg & Associates, P.C., can help. Our experienced and knowledgeable attorneys will help you understand the ins and outs of testamentary trusts and can help you make the decisions regarding your estate that are right for you. Contact our offices today at 800-242-2151 to learn more.

Characteristics of Testamentary Trust Wills

Testamentary trust wills are effective ways to make sure your estate is used wisely upon your passing. Some of the features of testamentary trust wills which make them a good option for setting up the distribution of your assets include:

  • Testamentary trusts don’t avoid probate like other trusts
  • Part or all of the granter’s assets are distributed to the trust upon their passing
  • Testamentary trusts are taxed on the whole, but individual beneficiaries are not
  • Testamentary trusts protect beneficiaries from spending all of their inheritance at once
  • A trustee is given the responsibility of distributing assets according to their discretion in some cases, or according to instructions provided by the granter
  • The trustee reports annually to a probate court to ensure they are distributing the trust fairly and making wise investments

While setting up a testamentary trust will can be confusing, an experienced attorney can help you make this process as easy as possible.

Contact Us

If you are preparing a will and are looking for sound legal advice, the Houston estate planning lawyers of Garg & Associates, P.C., are here for you. We have decades of experience handling a variety of estate planning issues and can help you plan the distribution of your estate wisely. To speak with one of our knowledgeable attorneys, call our offices at 800-242-2151 today.

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Garg & Associates, PC | 21 Waterway Avenue, Suite 300 | The Woodlands, Texas 77380 Please call 281-362-2865 | Fax: 866-743-4506
Serving The Woodlands, Spring, Houston, Conroe, Kingwood, Tomball, Cypress, Huntsville, Cleveland, Stafford, Montgomery County, Harris County, West Oaks, Memorial, Sugar
Land, River Oaks, Alief, Stafford, Missouri City, and Southwest Houston Texas.