Many people understand how important creating a legal document that designates the gifting of their estate to their beneficiaries is. Most Texans use a Last Will and Testament to outline their last wishes. However, there are other estate planning options available to ensure your property is distributed as planned. One way to do this is to establish a revocable trust. In this blog, our Below are factors you should consider.
- Probate Avoidance – Texas is a very “Will friendly” state because our probate process is simple, easy, and relatively inexpensive. However, if you want to avoid the probate process, a revocable trust can help you achieve this goal. Furthermore, if you have property outside the state of Texas, the probate processes are often not as easy as they are here. A revocable trust should always be considered if you own property outside the state of Texas.
- Your Age – Revocable trusts are often useful for elderly clients for probate avoidance. Revocable trusts can also provide a useful mechanism for establishing a succession plan for managing the assets in their estate, even before they are deceased.
- Confidentiality – Although relatively simple, the probate process requires the Last Will and Testament to be publicly posted. If you are making large gifts or do not want your Will freely available on the internet, the you need to consider a revocable trust. Unlike Wills, revocable trusts are private documents.
At Dossey & Jones, PLLC, we are committed to providing the residents of Houston with top-notch legal services. Whether you decide a living trust is the right estate plan for you or if you simply would like legal guidance for creating a will, our Montgomery County estate planning lawyer can help you.
Get start today! Call (281) 410-2792!