Law Office of Randy Michel
College Station, TX
979-764-2435 or
Menu Contact
View Our Practice Areas

Have you answered these questions regarding trusts?

If you live in the state of Texas and are faced with the estate planning process, you will likely begin to consider the finer details associated with wills, trusts and other documents.

While a will is typically the first choice among people who want to pass an estate to their heirs, it is not the only option to consider. A trust is another option and with many benefits, such as the ability to avoid probate. It is being used by a growing number of people.

When attempting to determine if a revocable living trust is right for you and your family, there are many questions to answer. Here are some to get you started:

-- What are the primary differences between a will and a living trust? In short, for those who are concerned about avoiding probate and keeping information private, a trust is the way to go.

-- Who will you name as the trustees? You have the right to name any mentally competent adult as your trustee, with most people choosing a child or children.

-- What does it cost to setup a living trust? This depends on many factors, including the value of your assets, the complexity of your situation and the attorney you choose to work with. While not always the case, it typically costs more to create a trust than a will.

When learning more about a living trust, it is important to know the pros and cons, as well as what this can do for your particular situation. An estate planning attorney can provide more information on whether a living trust is right for you.

Source: AARP, "10 Things You Should Know About Living Trusts" Oct. 21, 2014

No Comments

Leave a comment
Comment Information

Our Location

Law Office of Randy Michel
232 Southwest Parkway East
College Station, TX 77840

Phone: 979-314-2965
Phone: 979-764-2435
Fax: 979-764-2436
Map & Directions

EMAIL US FOR A RESPONSE

How Can We Help?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close