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IRAs and see-through trust status. To receive preferential tax treatment for an IRA beneficiary trust, if the trust qualifies for see-through Requirements for a see-through IRA beneficiary trust. To be treated as a see-through trust, a trust must be irrevocable as of the date of death of the owner Reference: Motley Fool (April 2, 2016) “Can an IRA Go Into an Irrevocable Trust?”

Wills and trusts administration in Texas can be somewhat complicated, and some folks are looking to avoid So, does this really circumvent the need for wills and trusts administration? A will and/or trust is a much more thorough way of covering your bases and ensuring that your wishes Working with a wills and trusts lawyer in Houston has other benefits, too. Leaving your assets to a trust can help avoid the probate process, for example.

Getting named successor trustee for a loved one’s trust is an honor. With guidance from an experienced trust administration attorney, you can feel assured that all trust How Trust Administration Works in Texas In most cases, administering a trust begins at the time of the trust creator’s death. trust funds.

As a Houston will and trust lawyer, I can confidently say that estate plans are not one-size-fits-all client’s child was unable to properly handle their finances , and the parents preferred to set up a trust This is a danger and a huge reason for working with a Houston will and trust lawyer to ensure that your

Tax: When you fund an irrevocable trust, know that your tax situation can change immediately. The trust doesn’t receive a step-up in basis, just a transfer of your cost basis. But if you place assets in a trust, you have the ability to build a good offense against inflation. Usability: Sometime called liquidity, this refers to your trustee’s ability to access these funds. Reference: MarketWatch (February 25, 2016) “What you should know before placing assets in a trust” #HoustonAssetProtection

One of the most enjoyable parts of being a Harris County estate lawyer is helping clients set up trusts Setting up the trust can be a lot of fun. Figuring out how to fund it is deeply satisfying. A “directed trustee” is chosen to look after the trust according to specific instructions from you. These may include professional companies that do nothing but administer trusts. directed trustee and others involved with the trust.

worked with an experienced and reputable estate planning attorney and the wording of his will and/or trust Battles Coming For Muhammad Ali Estate, But It Should Emerge Victorious” #Probate #Inheritance #Wills #Trusts

I know you trust your child completely, but there is always a possibility that your child may change

parent of a disabled child is to speak to an estate lawyer in Houston to establish a special needs trust The best solution is to create a third-party special needs trust or SNT. A trust is an asset administered by a third-party trustee on behalf of a beneficiary. The money in the trust is belongs to the trust and is spent solely on behalf of the beneficiary. The trust can help to cover costs beyond what Medicaid and SSI provide, like dental care, transportation

While you’re at it, put all other estate planning documents in place, like a will, trusts, powers of #AssetProtection #Will #PrenuptialAgreement #PowersofAttorney #HealthCareDirectives #Trusts #estateplanning

agreement is that it frequently can mesh with a person’s estate plan—including life insurance, wills, trusts entering into a second marriage with more assets than the other spouse can leverage a prenup to create a trust When that person dies, the money from the trust is distributed to the children of the first spouse who shouldn’t be a deal breaker in remarriages” #AssetProtection #PrenuptialAgreement #Inheritance #Wills #Trusts

For those who die without a will or trust, their state laws determine to whom estate assets pass. First, know that some families are shattered by jealousy, animosity and a lack of trust when a parent A big reason family wealth erodes is a lack of communication, understanding and trust among family members and encouraging sound investing; talking about methods of transfer—including direct gifts, the use of trusts Wealth Transfer Plan” #AssetProtection #EstatePlanningLawyer #WealthTransferPlan #Inheritance #Wills #Trusts