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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? trustee and designating what you would like to have happen with your money or other valuable items. 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. It means that someone in your life trusts you to act in their interests in the moments following their trust funds. Some benefits of using a corporate trustee like a trust company or law firm include: Specialized Expertise Consistency: A company trustee won’t pass away or resign like a person might.

As a Houston will and trust lawyer, I can confidently say that estate plans are not one-size-fits-all established child that does not need a large inheritance while another child has not fared as well in life 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 If you would like the peace of mind knowing that the distribution of your assets is a result of careful

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 in an assisted living facility.

The value of his fortune could increase dramatically now that he’s gone—just like what happened with Junior says that she cut him out of his father’s life and rarely let him visit. Ali Jr. was living in poverty and is now attempting to peddle a tell-all book with a plan on cashing 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

Last Will and Testament and/or Living Trust A will is a document used to leave instructions about what Depending on your situation, a Living Trust may add another layer of protection and control to your planning Medical Power of Attorney or Living Will This document is different from the power of attorney described A living will also allows you to explain in advance what type of care you do or do not want in all types Houston Estate Planning Attorney If you do not have these documents in place, call our Houston Will and Trust

One of the most enjoyable parts of being a Harris County estate lawyer is helping clients set up trusts 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. to make decisions for the trust. directed trustee and others involved with the trust.

Pour-Over Wills Pour-over wills work in conjunction with separate living trusts that direct property Often used for larger estates, a living trust handles asset distribution among heirs and beneficiaries according to the trust agreement. Key Features Include: Assets transfer to a living trust. Combining a living trust with a pour-over will let you direct valuable asset distribution through the

insurance, wills, trusts, retirement plans and beneficiary designations. entering into a second marriage with more assets than the other spouse can leverage a prenup to create a trust that will pay interest income to the surviving dependent spouse for as long as he or she lives. 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

an adult Death or disability of someone named in the estate Death or disability of your executor or trustee A comprehensive estate plan may also include a revocable living trust . A living trust allows someone to take ownership of your assets while you are still alive and distributes With this type of trust, you would still be able to manage your assets while living. From creating or updating your will or helping to establish trusts , we are here to help with all aspects

Putting all your money in a CD or money market is safe, but is not going to give you the financial outcome because the interest isn’t tax deductible and those interest rates could be super high. #5: Understand life ’s risk: Stuff happens in life, and not all of it is good, like a fire, disability, getting sued or dying A living will or advance directive can be executed before they’re needed. If you own property, a living trust may help ensure that your assets are properly distributed when you

This means that any decision, like selling the property, will have to be approved by both of you. I know you trust your child completely, but there is always a possibility that your child may change