Houston Trusts Lawyers
What is a Trust?
Another Texas estate planning tool our family law attorneys can assist you with is the creation of a Trust. A Trust gives you control of how and when your estate is distributed. When you work with a Houston Trust lawyer, we will work to achieve your goals for your property and assets.
If you want to achieve your goals for your property and assets through Texas estate planning, call our law firm today at (713) 221-9088.
Benefits of Establishing a Trust
A carefully planned Trust can provide several benefits for you and your beneficiaries. A Trust can help you provide for your children until they reach a certain age of your choosing when you believe they will be mature enough to handle the assets or property you provide for them appropriately.
Without a Trust, your children can inherit your estate at the age of 18. If your estate has a substantial value to it, you may not want your child to have access to the entirety of the estate the moment he or she turns 18.
Many of us were not ready to make significant financial decisions at 18 and a Trust is a good way for you ensure that the estate will not be wasted away before your child’s 21st birthday.
Many people think that only the elderly or the wealthy need or can benefit from Trusts. Neither of these assumptions is true. Many people of modest means who have children and good jobs utilize Trusts to control the access to and distribution of their property and to protect their families.
A Trust can also avoid probate proceedings altogether, as probate can become expensive and time-consuming. As probate court proceedings are also public, a Trust can also allow you to maintain your privacy by keeping proceedings out of probate court.