Living Trusts Simplified

Most of us have heard discussion about living trusts, but we may not know exactly what they entail or if we need them. Around the country, living trusts are valued because they can help estates skip some of the probate court process, which is often stressful, confusing, drawn-out, and expensive. However, Texas has a different probate code than many other states, and many experts state that living trusts are not as necessary here.

So what are living trusts, anyway? They are somewhat similar to a will, in that they contain instructions on how to distribute a person’s properties and assets after his or her death. However, while a will is a piece of paper with instructions on it, the property and assets actually enter into the trust in the case of living trusts. The trust itself can be seen as holding the properties, and it will disburse them according to the wishes of the person who created the trust.

This has several benefits. The trust can hold onto assets for young beneficiaries until they are older, or manage a property such as a home that benefits many family members. A trustee chosen by the trust’s creator oversees these operations.

For More Information

So, do you need a living trust? It’s somewhat difficult to know without knowing all the details of your situation. What is sure, however, is that working with an attorney can help your entire estate planning process, and ensure that your wishes about your property will be fulfilled after your passing. For more information, call a Houston estate planning lawyer from Garg & Associates, P.C., 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.