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Litigation,” usually beneficiaries wait until after a person has passed away to challenge a will or trust in Competency Litigation” #AssetProtection #Incapacity #ProbateCourt #Inheritance #Dementia #Wills #Trusts

Remember that when you set up a trust, your IRA cannot be retitled to your trust. The quick solution is to overcome this by simply changing the IRA’s beneficiary to their trust. Talk with an estate planning attorney to be certain that the IRA’s beneficiary is a trust that qualifies as “See Through Trust,” or else it can cost your families thousands of dollars in taxes by making it for retirement” #AssetProtection #EstatePlanningLawyer #IRA #401k #403b #Medicaid #VeteranBenefits #Trusts

net worth which would make you liable for federal estate tax, you should ask your attorney about a trust EstatePlanningLawyer #NoNup #DurablePowerofAttorney #WillCohabitation #PowerofAttorney #Wills #TaxPlanning #Trusts

A trustee is the person who will manage the assets that are in your trust. regarding assets in your trust. best interest of the trust beneficiaries. It is critical that a trustee follows the terms of the trust documents and the trust creator’s instructions #TrustAdministration #trustplanning #Trusts

How Can a Trust Help? Here are a few examples of trusts that are options to you; IRA Trust: Designed to prevent an heir from Revocable Trusts: Allows you to retain control of all the assets in the trusts and you are free to revoke Asset Protection Trusts Beneficiary Trusts With your options in mind, the best course of action is always Trusts allow you to control how and when the money is spent The individual setting up the trust can make

Younger Women There are plenty of reasons that a younger woman needs to meet with a Houston will and trust An estate planning attorney may also advise younger mothers to consider setting up a trust for their A Houston will and trust lawyer can help put things in motion now to make that a reality later.

What Does the Trust Do? When you set up a trust with your trust and estates lawyer in Houston, you will discover that there are Protecting the Trust Another reason to consider a trust is to protect your children’s money from misuse recourse, as the trust is a legal contract. Talk to a Houston Trust and Estates Lawyer The best way to determine if a trust is right for you and

Dynasty Trusts The perks of a dynasty trust for long-term wealth planning are significant. A new law allows these trusts to exist for up to 300 years. Charitable trusts are not subject to durational limitations. When weighing a dynasty trust for your family, explore the perks of using a corporate trustee. A corporate trustee can offer professional management skills and understand trust laws in ways a friend

Last Will and Testament and/or Living Trust A will is a document used to leave instructions about what In addition, you can use a will to name guardians for your minor children and even your pets. Depending on your situation, a Living Trust may add another layer of protection and control to your planning Houston Estate Planning Attorney If you do not have these documents in place, call our Houston Will and Trust

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

A Special Needs Trust can also be set up, but these are only for people under age 65. A good solution is to use a Pooled Trust. Unlike a Special Needs Trust, a Pooled Trust account can be created for a person with disabilities of Not all Pooled Trusts are managed the same. It all depends on the non-profit managing the trust. Do your research in finding the right Pooled Trust non-profit to set up and manage your account.

“You should steer clear of ‘living trust mills,’ which hold themselves out as estate planning specialists A living trust lets you transfer assets to the trust and, if done properly, may transfer those assets A living trust is revocable, which makes it very flexible. have to stay in the name of the trust. Living trusts are very complex legal documents—one-size-fits-all doesn’t work.