A Poor Prognosis? Call Your Estate Planning Lawyer!

I worked with a young couple last year. Both were in good health. They were happily married, had two small children, and were busy balancing their careers and young family. Their plan was typical: If one died, they wanted the surviving spouse to inherit outright with minimal fuss. Their wills made an outright distribution toRead More

Did the Texas Legislature Create a Back Door for the Creation of a Self-Settled Asset Protection Trust?

Trusts with spendthrift provisions protect assets from claims of creditors. The inclusion of a spendthrift provision in a trust provides the beneficiary with asset protection because it prevents the beneficiary or any other creditor from forcing a trustee to turn over trust assets to satisfy a judgment or a claim. Some states and foreign countriesRead More

Do I Need To Record My Trust in Texas?

In Texas a trust is a not a legal entity. Rather, it is a legal relationship in which a Trustee holds legal title for the benefit of another person called the beneficiary. Unlike a corporation, which is required file certificate of formation with the Secretary of State, there is no such requirement for a Trust.Read More

Can I Appoint My Own Guardian In Case I Become Incapacitated?

A power of attorney can generally eliminate the need for a guardianship; however, a guardian may sometimes be required despite having a medical power of attorney and durable power of attorney. For example, there are occasions when financial institutions reject a power of attorney; a person appointed as agent becomes incapacitated or dies, and noRead More

Is Your Will Valid?

Her husband died a couple of months ago. She found what appeared to be a Will in his desk drawer. He had typed it up, signed it, and tucked it away for safe keeping. He likely thought he had his bases covered. He was wrong. Although the Will outlined how he wanted his property distributedRead More

What are the Responsibilities and Duties of a Trustee of a Testamentary Trust?

Wills sometimes create testamentary trusts, trusts that spring to life after the death of a testator. When a testator includes a testamentary trust in his Will, the testator has the opportunity to designate who will manage the trust. A Trustee is a person (or persons) or an institution named to control and manage such trusts.Read More