Plan for Your Family’s Future with Trusts in Jacksonville, TX
You want to provide for your family, but you may be unsure how to pass down a home, land, or savings without leaving difficult decisions behind. A trust can give someone you choose instructions for managing and distributing certain assets, possibly avoiding probate.
Steven R. Guy helps Jacksonville families decide whether a trust belongs in their estate plan and prepare documents that reflect their wishes.
Revocable Trust vs. Irrevocable Trust
A revocable trust can generally be changed or canceled by the person who creates it. An irrevocable trust generally offers less flexibility once established.
Either type may be created during your lifetime; a living trust is defined by when it takes effect, not whether it can be changed. The right choice depends on your property, family, and goals.
Frequently Asked Questions About Setting Up a Trust
Do I need both a trust and a will?
Often, yes. A trust provides instructions for assets held in it, while a will can address property left outside the trust and other matters, such as naming a guardian for minor children. A trust attorney can help you understand how the documents work together.
Does a living trust avoid probate in Texas?
Assets properly transferred to a living trust may pass according to the trust’s terms without going through probate. Property left outside the trust may still require probate. Creating the document is only one step; transferring the intended assets into the trust matters, too.
What is involved in setting up a trust?
You’ll decide what you want the trust to accomplish, choose a trustee and beneficiaries, and identify the assets it should hold. An attorney can prepare the trust document and explain the steps needed to transfer property into it.
How much does a living trust cost?
Living trust costs depend on the complexity of your plan, the property involved, and the documents you need. A consultation can help clarify the work involved and whether a trust makes sense for your situation.
Can a Medicaid asset protection trust help pay for long-term care?
Some trusts may be used in advance planning for long-term care, but creating an irrevocable trust does not automatically protect assets or establish Medicaid eligibility. Trust terms, asset transfers, and Medicaid’s five-year look-back rules can affect the outcome. Discuss this goal with an attorney before moving property.
Hire an Experienced Trust Lawyer in Jacksonville, TX
You don’t need to know whether a trust is right for you before reaching out. Tell Steven R. Guy what you want to accomplish for your family and property. He can explain your options and help you decide what belongs in your estate plan.
Call 903-586-2595 today to schedule your consultation.
