A living trust is a trust created during a person’s lifetime. Assets retitled to the name of the trust and held in a living trust do not require probate when an individual dies. When the person who created the trust (referred to as the “trustor” or “settlor” of the trust) dies, the assets in the trust are distributed to the persons named, and in the manner specified, by the trust. The person or entity named in the trust as the successor trustee oversees the administration of the trust after the trustor or settlor dies.

Living trusts offer other advantages beside probate avoidance; they provide a plan for the incapacity of the trustor and may offer certain tax advantages for the beneficiary.

We understand that every client situation is unique, and we invest the time to get to know you, including your goals and planning objectives. Our firm takes the time to fully explain your planning options in clear and understandable terms. 

Unfortunately, in Texas, unless you have drafted a specialized deed with rights of survivorship or some other transfer on death designation, the simple fact that a husband and wife are both listed as Grantees on a deed, does not allow for the surviving spouse to simply own the home.  Typically, a probate process will be required (whether using the deceased spouse’s will, or the laws of intestate succession if the spouse dies without a will) to transfer the deceased spouse’s interest to his / her beneficiaries or heirs at law.  Our attorneys will discuss with you your wishes pertaining to your home and help you to choose the best document to accomplish your goals. 

A power of attorney, which is effective only during your lifetime (and which ends upon death), is essentially a “permission slip” for someone whom you trust to act on your behalf when needed, whether in medical situations (Medical Power of Attorney) or in business and financial affairs (Statutory Durable Power of Attorney).   A Last Will and Testament is only effective upon death, and thus cannot be used during your lifetime to grant authority to an agent.   Our attorneys will assist you in determining how to craft Powers of Attorney that meet your needs and protect you and your family in the event you become incapacitated.