Probate court hearings can be stressful and costly for a family. This is why it’s important to find ways to avoid probate in Texas. With the implementation of different legal arrangements, our probate lawyer can help you to achieve this goal. We understand the different types of trusts and can explain each to you to help you make an informed decision.
What Are Living Trusts?
In Texas, you can make a living trust to avoid probate for any asset you own – vehicles, bank accounts, real estate, etc. To do so, you will need to draft a trust document that names someone the trustee after your death. Ownership of your property is then given to the trustee of the trust. Once that is complete, the property is entirely controlled by the terms of the trust. At your death, the trustee can transfer it to beneficiaries without the need for probate court.
If you own property with someone and it includes the right of survivorship, then the surviving owner will own the property when the other owner dies. No probate is needed for this transfer, as in Texas, there is joint tenancy where the surviving owners automatically own the property. With survivorship community property, married couples can sign agreements to own property this way, thus avoiding any need for probate when a spouse dies, as the other person becomes the sole owner.
Call to Schedule a Consultation with a Texas Probate Lawyer Today
If you’re concerned about creditors getting to your assets after your death or have any other probate law concern, speak to one of our professional probate attorneys as soon as possible. To schedule a free legal consultation with a probate lawyer at The Voeller Law Firm, call (210) 651-3851 today. We can answer any questions you may have about estate planning and get the process started for you ASAP.