Best Trusts Lawyers in Texas

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Perkins Coie LLP
Austin, United States

Founded in 1912
2,875 people in their team
English
Perkins Coie is a leading international law firm that is known for providing high value, strategic solutions and extraordinary client service on matters vital to our clients' success. With more than 1,200 attorneys in offices across the United States and Asia, we provide a full array of corporate,...
Dorsey & Whitney LLP
Dallas, United States

Founded in 1912
1,390 people in their team
English
worldwide advantageYOUR BUSINESS REQUIRES AN ADVANTAGE, AN EDGE, TO SUCCEED IN A HIGHLY COMPETITIVE WORLD.Dorsey’s lawyers and staff can help you gain that edge by applying superb legal knowledge and skills with practical wisdom and a deep understanding of your business and industry.We serve...
BALCH & BINGHAM LLP
Austin, United States

Founded in 1922
439 people in their team
English
Balch & Bingham LLP is a corporate law firm with more than 230 attorneys across offices in Birmingham and Montgomery, Alabama; Jacksonville, Florida; Atlanta, Georgia; Gulfport and Jackson, Mississippi; Houston, Texas and Washington, D.C. We are recognized for our deep experience serving...
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United States Trusts Legal Questions answered by Lawyers

Browse our 1 legal question about Trusts in United States and the lawyer answers, or ask your own questions for free.

My mother was the sole survivor among her big family the problem my aunt transfer the land on her name and my other aunt build her house on her sibling land, they are both dead but the problem his son in law was claiming the land and the house , but it w
Elder Law
Will & Testament
Trusts
Dear Sir or Madam, please contact our office at (917) 740-1776 or via email at michael@marqueslawfirm.com.  We would be happy to speak with you.  

About Trusts Law in Texas, United States

Trusts are legal arrangements that allow a person or entity (the grantor) to transfer assets to a trustee, who manages the property for the benefit of one or more beneficiaries. In Texas, trusts are commonly used for estate planning, asset protection, charitable giving, and managing property for minors or individuals unable to manage assets themselves. There are several types of trusts in Texas, including living trusts, testamentary trusts, revocable trusts, and irrevocable trusts. Trusts can help families avoid probate, protect privacy, minimize estate taxes, and provide for loved ones in a secure and organized way.

Why You May Need a Lawyer

While some simple trusts may be established without an attorney, Texas trust law can be complex. You may need a lawyer if you are creating a trust, acting as a trustee, or are a beneficiary involved in a dispute. Common situations where legal help is vital include handling large or complicated estates, ensuring the trust meets Texas legal requirements, updating a trust after major life changes, interpreting complicated trust language, resolving family disputes, removing or replacing a trustee, managing trusts for disabled or minor beneficiaries, or addressing issues like creditor claims and tax implications. A lawyer can help you avoid costly mistakes and give you peace of mind knowing your trust is valid and effective under Texas law.

Local Laws Overview

Texas is governed by its own trust law, found primarily in the Texas Property Code, Title 9, Trusts. Some aspects that differentiate Texas from other states include the statutory requirements for forming a trust, rules regarding trustees’ duties and powers, and unique provisions for modifying or terminating trusts. While Texas recognizes both revocable and irrevocable trusts, each has different standards for creation, modification, and administration. Texas also has its own rules about mandatory disclosure to beneficiaries, trustee accounting, and trustee removal. Assets placed in a properly drafted Texas trust may avoid probate, but all trusts must adhere strictly to state formalities to be valid and enforceable.

Frequently Asked Questions

What types of trusts are commonly used in Texas?

The most common types of trusts in Texas are revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, and charitable trusts. Each serves different purposes depending on your goals.

Do I need to have a large estate to benefit from a trust?

No. While trusts are helpful for large estates, anyone can use a trust to manage assets, avoid probate, maintain privacy, or provide for beneficiaries who may need assistance.

Can I modify or revoke a trust once it is created?

Revocable trusts can generally be changed or revoked by the grantor during their lifetime. Irrevocable trusts, on the other hand, are difficult to change except under specific circumstances permitted by Texas law.

How are trusts taxed in Texas?

Texas does not have a state income tax, so a trust will typically only be subject to federal income taxes. However, the type of trust affects how income is taxed, and some trusts may have federal estate or gift tax consequences.

Does a trust avoid probate in Texas?

Assets held in a properly established living trust typically do not go through probate, which can save time, money, and maintain privacy for your heirs.

What are the duties of a trustee in Texas?

Trustees in Texas are fiduciaries. They must act in the best interests of the beneficiaries, follow the trust terms, keep accurate records, provide accounting to beneficiaries, and avoid conflicts of interest.

What happens if the trustee does not perform their duties?

Beneficiaries or co-trustees can ask a court to remove or replace a trustee for failing to perform their duties or for breach of fiduciary duty under Texas law.

Can creditors access property in a trust?

This depends on the type of trust. Assets in irrevocable trusts are generally protected from the grantor’s creditors, while assets in revocable trusts are not fully shielded. The specifics depend on how the trust was set up and the circumstances involved.

How do I fund a trust after it is created?

After the trust is signed, assets must be retitled or transferred into the name of the trust. This may include changing ownership of bank accounts, real estate, and investment accounts to the trust.

Is a trust a public document in Texas?

Generally, trusts are private documents. Unlike wills, they are not filed with the court or made public unless there is a legal dispute or litigation involving the trust.

Additional Resources

- Texas State Law Library: Offers legal information on trusts and estate planning. - Texas Department of Banking: Regulates certain types of trusts and fiduciaries. - State Bar of Texas - Real Estate, Probate and Trust Law Section: Provides educational materials and details for finding an attorney. - County Probate Courts: Can provide information about local procedures if a trust matter goes to court.

Next Steps

If you are considering setting up a trust, acting as a trustee, or facing a dispute involving a trust in Texas, it is wise to consult with a qualified estate planning or trust attorney. Gather your financial information, list your goals and concerns, and bring any trust documents you already have to your first appointment. A Texas attorney can advise you on state-specific trust requirements, help draft or amend trust documents, guide you through administration, or help resolve disputes. To proceed, look for attorneys who specialize in trusts or estate planning in your area and schedule a consultation to discuss your needs.

Lawzana helps you find the best lawyers and law firms in Texas through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Trusts, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Texas, United States - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.