Trusts

Trust Planning & Drafting in Southlake

Helping Clients Enjoy the Financial Stability and Control They Deserve

Including trusts in an estate plan is one of the best decisions Tarrant County residents can make. Trusts are excellent vehicles for protecting wealth, and they are just as beneficial for moderate-income families as they are for the ultra-wealthy. With our client-focused approach, our legal team can help you understand your options and create the necessary documents that provide peace of mind and security for the future.

With the many kinds of trusts, it’s crucial to seek counsel from a legal team like the attorneys at the Law Office of Dana L. White, PLLC. Our lawyers will offer tailored legal advice to your unique circumstances and personal goals. We’ll stand by your side throughout the planning process and help with asset protection, charitable donations, and more. We can also assist you with the probate process on behalf of a deceased loved one.

Contact our Southlake, Texas estate planning firm immediately for assistance in protecting your investments and passing on a legacy of wealth and generosity to future generations. You can reach us at (817) 512-1580.

What Types of Trust Can I Choose From in Tarrant County?

Determining the right kind of trust for your Texas estate plan is one of the most crucial aspects of trust formation. You can ask yourself several questions to identify the right trust for you. Do you have charitable inclinations? Are you leaving an inheritance to young beneficiaries who might spend it too quickly? Are you concerned with controlling your assets while you’re still alive, or do you want a hands-off approach?

These questions and more can help narrow down the type of trust you use, including:

  • Revocable trusts – These trusts are easily modified and may be controlled by the grantor. However, they do not provide asset protection
  • Living trusts – Living trusts are a form of revocable trusts where the grantor may be named trustee
  • Charitable trusts – Charitable trusts allow you to leave a portion of your estate to a charity of your choice. These trusts can provide tax relief for your beneficiaries
  • Spendthrift trust – A spendthrift trust means you’ll distribute your assets to beneficiaries slowly over time, which is ideal for minors or people prone to overspending
  • Irrevocable trusts – An irrevocable trust provides excellent asset protection from creditors, but may not be easily modified or adjusted
  • Special needs trust – A special needs trust provides financial stability for a loved one with special needs without jeopardizing their eligibility for public benefits

How Do Trusts Work in TX?

When you create a trust, you create an entity that holds your assets. Since the entity is the legal owner, the relationship between you and your personal property changes. Depending on the type of trust you choose, you may enjoy greater asset protection and be able to control how the inheritance is passed on to future generations.

Trust assets are no longer managed by the grantor, but are controlled by a trustee. The trustee should be a person you trust to act in your best interests and to follow your instructions. If you choose a living trust, you may be named trustee and control your assets yourself.

Executing a trust on behalf of someone who named you trustee can also be complex and overwhelming. You’ll need to inventory the trust assets, file taxes when necessary, and distribute remaining money or assets to the beneficiaries.

If you have been named a trustee or are thinking of creating a trust, please contact our law firm immediately. We’ll partner with you to create high-quality estate planning documents that protect your assets now and in the future.

What Are the Benefits of Having a Trust as Part of My Texas Estate Plan?

Trusts bring many benefits to Tarrant County residents. Having a trust can mean excellent control over your finances, even after you pass away. Trusts can protect your assets from probate, meaning your family members won’t be exposed to this public, time-consuming process when your estate is administered.

Depending on your circumstances, you may choose a trust that provides asset protection, shielding your property from predators and tax collectors. On the other hand, you may need a trust that passes on the inheritance in a specific manner that meets your family’s needs and goals.

Whatever your needs regarding a trust, you deserve the assurance and security that comes from establishing a legally valid trust. Our team of trust lawyers is ready to help you learn more about trusts and decide the right path for your situation. Don’t delay in this crucial decision. Call today!

Should You Hire Our Trust Planning & Drafting in Southlake, Texas?

If you want to ensure your wishes are respected and secure the wealth you’ve worked so hard to build, a trust might be the right choice for your estate plan. You need lawyers who will partner with you in creating the right documents to leave behind a legacy of goodness. You need the Law Office of Dana L. White, PLLC.

At our law firm, we take the time to listen to our clients and provide honest, easy-to-understand answers. We’ll also communicate with you clearly throughout the process, allowing you to be a full participant in every decision.

Our law firm offers a range of estate-related services, including probate, prenuptial and postnuptial agreements, estate administration, estate planning, trusts, wills, and more. We’ll ensure your estate is prepared in the event of your death and that your heirs have the bright future they deserve.

Call (817) 512-1580 to discuss your wishes regarding your Texas estate plan with our caring, capable legal team.