Utilizing Trusts In Your Texas Estate Plan

Trusts are an important and often complicated part of estate planning, giving individuals unique options and more control over how their assets are passed down to the next generation. A trust holds assets – often, financial assets – and the trustee makes appropriate distributions to the beneficiaries following predetermined instructions.

If you are thinking of writing a trust in Texas, it’s important to have a skilled lawyer on your side. I am attorney John Elliott, and with over 15 years of experience, I am board-certified in both estate planning and financial planning. I am uniquely qualified to help you explore your estate planning options, draft trusts and other documentation, and ensure that your wishes are followed. At my firm, Elliott Estate Law, PLLC, I offer the level of legal guidance you deserve from an estate planning lawyer in Houston.

How Can You Use A Trust?

Each trust is unique, and you have many different options. The key is to carefully consider them with an attorney and see how they line up with your individual estate planning goals.

For instance, a special needs trust can help a beneficiary retain their government benefits while still getting an inheritance. An educational trust can provide money to cover the rising costs of tuition, giving the beneficiary the gift of an advanced education and jump-starting their career. A trust can also be used to delay payments, such as holding assets for a minor or even delaying access until the beneficiary is in their 30s or 40s. This is sometimes known as a spendthrift trust, and the hope is that an older beneficiary will make wiser financial choices than they would have at a younger age.

Call Now To Get Started

The above are just a few examples of specific uses for trusts, but there are many more to consider. If you’re wondering how to incorporate trusts into your estate plan, call 713-936-4264 or use my online portal to schedule a consultation. Dedicated, experienced and knowledgable, I am here for you every step of the way.