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Estate planning does not have to be a long, complicated process. Before you meet with a Houston Trust and Estates attorney there are certain documents you may want to this completed, the sooner your estate plan will be finalized. A Houston Trust and Estates attorney can help you narrow down candidates, but at the end of the day those #estateplanning #Houstonestatesandtrustsattorney #Trusts

Simply put, a trust is an estate planning tool that lets you set aside funds for certain beneficiaries The best way to set up a retirement trust is by meeting with an attorney that specializes in estate planning Since every situation and every individual is different, the insight from an estate-planning attorney When planning for your future, the best thing you can do is rely on the expertise of estate planning Since trusts can be manipulated to fit your individual needs, together with an estate planning attorney

What is a Special Needs Trust? your child; instead, they are owned by the Trust and managed by a Trustee of your choosing who will How may the assets in a Special Needs Trust be spent? Pooled Trusts are typically run by non-profits. #SpecialNeedsTrust #Trusts

If you have been asked to serve as trustee for someone’s trust, it is your responsibility to successfully Read the trust- The trust will have all the information you need to carry out the wishes of your loved estate. and you will want to keep track of them in a checking account that is solely used for purposes of the estate that you should not borrow money or lend money to anyone from the trust.

Working with a special needs lawyer in Houston to create a trust for your child or other individual is , your estate plan, etc. 1. Have there been any changes to the law that affect the effectiveness of the trust? You want to be sure that all of them are properly titled and that they are accounted for in your estate When major changes come up, they can necessitate changes in the special needs trust.

A revocable trust can also reduce the estate tax burden on your beneficiaries. to estate taxes. Credit Shelter Trusts This trust can help wealthy married couples lower their estate taxes by maximizing These trusts are used to avoid estate taxes: if your children inherit your estate directly, then the value of your estate is added to the value of their estate and this could potentially trigger estate

The trust and its assets. The trustee who controls the trust and its assets. This protection is where a trust protector comes into play. What Is a Trust Protector? An experienced trusts and estates attorney can help you define these duties and ensure that the trust The trust protector can also serve as back-up oversight if you do not entirely trust your trustee to If you are creating or revising an estate plan, Your Legacy Legal Care can help with comprehensive estate

In this article, we will explore the four most common types of trusts in estate planning: revocable living may or not be considered part of your estate. Estate tax savings: By removing assets from your estate, you may be able to reduce or eliminate estate Choosing the Right Type of Trust for Your Estate Planning Goals There are many types of trusts. trusts may offer more favorable tax treatment by removing assets from your taxable estate.

We go out of our way to ensure that our clients understand their estate plans, so they can be sure their The price of this flexibility is that items in a revocable trust remain part of your estate and can, Irrevocable and Unchangeable  If you are eager to minimize your taxable estate or protect assets, an the trust creator’s estate, so it typically does not tax them. Trust Us If you have questions about the different types of trust, or any other estate planning topic

The estate tax impacts just a small number of Americans, but those who are affected have a heavy burden At the tax rate of 40%, estate tax is onerous enough to make efforts to avoid at all costs, especially Generation-skipping trusts involve skipping a generation in planning your estate. Generation-skipping trusts go through a second level of taxes beyond gift and estate taxes. Your estate planning attorney can structure a generation-skipping trust to make use of the lifetime exemption

that you speak with a qualified estate planning attorney and explore the benefits of establishing an trust.” Your estate planning attorney can help you decide if the trust should be a conduit or an accumulation trust. Again, work with a qualified estate attorney to create a sound action plan based on your personal situation

One of the most enjoyable parts of being a Harris County estate lawyer is helping clients set up trusts The fact that estate planning lawyers are a part of it is almost a bonus to the job. A “directed trustee” is chosen to look after the trust according to specific instructions from you. By having your estate planning lawyer include directions for a directed trustee, you can mitigate some directed trustee and others involved with the trust.