Bare Trusts

When setting up a trust, there are many options available for the settlor, or the creator of the trust. The law allows for spendthrift clauses, trusts included inside a will, living trusts, and numerous other measures. However, in many cases, a settlor may just want to use a trust as a less troublesome way to pass property or funds to another person. As wills are prone to special probate laws and may require additional fees, a basic, bare trust may fulfill a settlor’s needs.

Contact the Houston wills and trusts lawyers of Garg & Associates, P.C., at 281-362-2865 for more information regarding your estate plan options.

What are Bare Trusts?

There are times when a settlor may want to establish a very basic trust. These situations often lead to the creation of a bare, or simple, trust, one of the most basic of all trusts or wills. Essentially, a bare trust works in the following ways:

  • A settlor establishes the trust under the standards of the law
  • A trustee serves a marginal role, largely as a formality
  • A beneficiary is granted full control over their property

While trustees still appear in these documents, they functionally serve little more than an ornamental purpose. These individuals do not hold any of the powers provided in other types of trusts and certainly cannot modify a beneficiary’s property after the trust has been fulfilled.

Contact Us

Many people have not yet established what will happen to their property after their death. If you are considering how you can use a will or trust to provide for your loved ones in the future, contact the Houston wills and trusts attorneys of Garg & Associates, P.C., today by calling 281-362-2865.

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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
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Land, River Oaks, Alief, Stafford, Missouri City, and Southwest Houston Texas.