Do You Need A Trust In Texas?
Trusts are powerful estate planning tools that can help you meet specific goals, such as keeping your family’s financial affairs private. At Showalter Colgin & Davis, PLLC, we have over 100 combined years of experience in helping Texas families establish and fund trusts.
How You Can Benefit From A Trust
There are many types of trusts. Here are just a few examples:
- Living trusts to manage your assets while you are alive and pass them directly to beneficiaries after you die
- Beneficiary trusts to protect assets from creditors or issues like divorce
- Special needs trusts to provide assets to a disabled family member without impacting their Medicaid or SSI benefits
- Life insurance trusts to reduce your taxable estate
- Gun trusts to own regulated firearms
Avoiding Probate, Keeping Your Financial Affairs Private
Assets distributed by will are subject to the Texas probate process, which can be expensive and time-consuming. Probate is a public process, which means that everyone will know the size of your estate and who is getting what.
Assets held in trust can be distributed directly to beneficiaries after you die, avoiding the cost, delay and publicity of probate proceeding.
Being Planning For Tomorrow, Today
There are many ways in which you can plan your estate. Our lawyers can help you review your assets and goals to find the best options for your situation. We have offices in Richmond and Fredericksburg, and we are ready to help you create your trust. If you are ready to begin your planning with one of our attorneys, contact us today at 888-627-4042.