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299 items found for "revocable trust"

  • Houston Will and Trust Lawyer: Read This Before Adding Your Child’s Name to Your Banking Account!

    I know you trust your child completely, but there is always a possibility that your child may change

  • Houston Special Needs Lawyers: Creating a Special Needs Trust or “SNT?” for Your Child with Disabilities

    parent of a disabled child is to speak to an estate lawyer in Houston to establish a special needs trust The best solution is to create a third-party special needs trust or SNT. A trust is an asset administered by a third-party trustee on behalf of a beneficiary. The money in the trust is belongs to the trust and is spent solely on behalf of the beneficiary. The trust can help to cover costs beyond what Medicaid and SSI provide, like dental care, transportation

  • Common Bad Excuses For Putting Off Estate Planning

    Create a revocable trust and transfer your assets to it during your lifetime. These documents will allow you to name someone you trust as an agent for these critical decisions and An estate plan can avoid this by appointing a guardian you and your spouse trust in advance. To avoid this you can establish a trust for your child to ensure they receive their inheritance on your

  • 4 Genius Ways to Avoid Probate in Texas

    Establish a Revocable Living Trust You can easily avoid probate in Texas by setting up a revocable living With a revocable living trust, you have full control over your assets during your lifetime, and they Some other benefits of a revocable living trust include: Privacy: Unlike wills, which become public records Incapacity planning: A revocable living trust allows for the seamless management of assets in the event Protection against challenges: Revocable living trusts can help minimize the risk of legal challenges

  • What Is a Trust Protector, and Do I Need One?

    trust and its assets; The trustee who controls the trust and its assets; and The beneficiaries who receive the benefits of the trust. This protection is where a trust protector comes into play. What Is a Trust Protector? trust terms, which may include: (1) the power to remove and appoint trustees, advisors, trust committee The trust protector can also serve as back-up oversight if you do not entirely trust your trustee to

  • Declining the Duty of Being Power of Attorney

    You also have the option of creating a revocable trust with the bank named as the successor trustee.

  • Trust Lawyer in Houston Answers, “What is a Trustee?”

    A trustee is the person who will manage the assets that are in your trust. regarding assets in your trust. best interest of the trust beneficiaries. It is critical that a trustee follows the terms of the trust documents and the trust creator’s instructions #TrustAdministration #trustplanning #Trusts

  • Make it a Happy New Year Money-wise

    He or she might suggest a trust or other strategies that can save you or your loved ones time, effort For example, a living or revocable trust may allow you to avoid the potentially long probate process Moves You Should Consider Making in 2016” #AssetProtection #EstatePlanningLawyer #ProbateAttorney #IRA #TrustsandEstates ProbateCourt #Inheritance #RevocableTrust #PowerofAttorney #Wills #RothIRA #LifeInsurance #LivingTrust #Trusts

  • 7 Surprising Facts You Should Know About Being an Agent Under a Power of Attorney

    . #4 Power of Attorneys Are Fully Revocable The principal can revoke a power of attorney at any time Revocation begins immediately, and principals are not required to provide advance notice. To revoke a power of attorney in Texas, you must: Have the mental capacity to know what you’re doing Prepare a written statement of your revocation Inform your agent that you have revoked the power of attorney Inform anyone working with the agent that you have revoked the power of attorney #5 A Power of Attorney

  • Make Sure the Kids Don’t Blow Their Inheritance

    A trust for children can be established in the parent’s will or other testamentary documents—like a revocable trust—which will be effective upon his or her death. Another way to do this is to create a trust in a separate trust document during the parent’s lifetime The parent will have to designate a trustee to administer the trust. and in accordance with the terms of the trust.

  • Why Is the Probate and Settlement Process So Complex?

    One thing to note is that if assets are placed in a revocable or living trust, they cannot be controlled However, the court stays out of the probate and settlement affairs if the assets are under a revocable (living) trust.

  • Which Trust is Right for Me?

    structure of a family trust is critical in how the trust gets taxed. For tax purposes, the big factor in a family trust is whether it qualifies as a grantor trust. That means that revocable trusts will typically qualify as grantor trusts. grantor trust status. If grantor trust rules don’t apply, then the big issue is who is entitled to the trust income.

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