Probate court proceedings can be costly, long, and stressful. Taking the time to take steps to spare your family this hassle will lead to an easier grieving process for them. In Texas, living trust laws allow you to make a living trust for every asset you own. You will need to create a trust document, similar to that of a will, which names someone as your successor trustee after your death. Next, you must transfer ownership of your property to yourself as the trustee of your trust. When that is done, your property is controlled by the trust. At your death, the successor trustee can transfer it to trust beneficiaries without the need for court. A wills & probate attorney in Texas can help you successfully achieve this goal.
Avoiding Probate With Ease
If you own property with someone, known as joint ownership, the surviving owner automatically owns the property. No probate is needed for this transfer of property so it isn't necessary to include it in a trust. In a trust, you can also add a payable-on-death feature to bank accounts, which allows your beneficiary to claim the money from the bank without the need for court too.
As of 2015, the state of Texas allows you to leave real estate with transfer-on-death deeds. These deeds are also called beneficiary deeds, which allows you to revoke the deed or sell the property at any time. The beneficiary that you name in your trust has no rights until your death.
Planning for your death is a great way to help your family to get through this difficult time. By hiring a professional wills & probate attorney in Arlington, you can ensure that they are protected and no court proceedings will be required for your trust. If you or a loved one need help with will preparation or trust preparation from a wills & probate lawyer in Texas, call 817-261-5000 today.