Having the appropriate assets properly funded into a trust before you pass away can greatly help your loved ones avoid the costly and lengthy process of going through Probate Court.
Retaining Control and Privacy
In the state of Texas, when someone dies who had established a trust, the trust must be "administered" in order to pay for end-of-life expenses (if any) of the individual or trust, and to distribute the assets to the beneficiaries of the trust according to its applicable provisions.
Trust administrations can be differentiated from Probate administrations in that they do not involve courts or judges, the details of the process are not public record, and the process occurs in the privacy of an attorney's office.
Contact us to learn more about trust planning and how it might benefit your estate.
Know the Consequences
Even if you have a trust in place before you pass away, your estate and your family can still face adverse consequences if everything is not organized and executed properly before the distribution of your assets. These can include added tax consequences, legal liability for the trustee, improper transfer of assets, and more. It is important to find a qualified legal team to guide you through the process of trust administration to avoid these issues.