Credit shelter trusts help save on state estate taxes

Posted on April 15th, 2011 No Comments

A credit shelter trust is a trust that allows married couples to only be taxed on six percent of their estate for estates totalling less than $500,000.

According to experts, assets that are set up in this kind of trust can be used by a surviving spouse during their lifetime and then passed on to children in the event of the spouse’s death.

Trusts are a great way to ensure that your loved ones receive the assets that you intended without having to go through costly and time-consuming probate litigation.

If you or someone you love would like more information on setting up a trust, please contact the Houston trust lawyers of Garg & Associates, P.C., at 877-780-8937.

When is a Trust a Good Idea?

Posted on March 4th, 2011 No Comments

When navigating through all the legal jargon of trusts and wills, it can be difficult to understand the differences between the two and decide which one is best for you.

Wills and trusts have a few important distinctions. The most important thing to know is that, while trusts are initially more expensive to create than wills, they could save your family huge amounts of money in probate litigation costs. This is because trusts cannot have probate proceedings that occur when a will is challenged. Trusts cannot be challenged, so you can be sure that your assets will go to the people you had intended.

Also, trusts can be put into effect while you are alive. If you wanted to allocate a specific amount of money to a loved one during your lifetime, that would be possible with a trust.

If you or someone you love would like more information on creating a trust, please contact the Houston trust lawyers of Garg & Associates, P.C. at 281-362-2865.

Renowned photographers’ trust involved in legal dispute

Posted on January 19th, 2011 No Comments

The Ansel Adams Publishing Rights Trust is involved in a legal battle with a man who has been accused of advertising posters and prints featuring “Ansel Adams Lost Negatives,” which the trust claims are not the work of the photographer.

The trust originally sued the man in August 2010 after he advertised “Ansel Adams Lost Negatives” items on his website. However, the man and his media company have since filed a counterclaim against the trust, as well as against the University of Arizona, which supported the trust’s claims. The complaint states that a team of experts have evaluated the negatives and found that the negatives were most likely created by Ansel Adams, and that the trust defamed the man and his company in their comments to international news networks.

The complaint and the counterclaim are set to be heard in May 2012.

If you or someone you know are involved in a wills and trusts dispute, the Houston estate planning lawyers at Garg & Associates, P.C. can help. For legal advice contact our offices at 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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