Trust Attorney Lavon Texas, many years of experience providing Lavon Texas with FLAT FEE legal services.
A trust created during your own life (often called a “living trust”) can provide both tax saving as well as a method to manage your property. Setting up a living trust can also help to avoid probate (aka a “probate avoidance trust”) and can also be helpful in cases were the owner becomes incapacitated or unable to manage property prior to death. A trust attorney can help set up your living trust. It is important to educate yourself about how the living trust works and what types of assets should be included in the trust. Not all assets, especially retirement assets or other assets which are not subject to probate action necessarily need to be including in a probate avoidance trust. Consulting with an experience trust attorney should always be the first step. A trust attorney has both experience and knowledge of trust law that can be helpful in establishing the type of trust that best suits your individual situation. For example, a properly drafted and funded living trust can provide some level of asset protecting in that the benefits to your heirs will not be thwarted if you become unable to handle your finances due to mental or physical incapacity. Most importantly, a living trust may eliminate the need for your estate to go through a probate court proceeding. Furthermore, with a trust, you can determine whether an inheritance is given directly to your heirs immediately after your death or if you want the inheritance given out gradually over a period of time. A trust attorney can also help you include tax savings clauses that may reduce estate taxes. Make sure to contact an experienced trust attorney to discuss how to set up a living trust.
R DEAN DAVENPORT ATTORNEY AT LAW
2150 S. Central Expressway, Suite 200
McKinney, Texas 75070-4000
469-352-1876
