The Estate of The Union Season 4|Episode 8 is out now! Choosing the right trustee is one of the single most critical planning decisions you can make when drafting your trust.
In this episode of The Estate of The Union, Zach Wiewel speaks with Ann Lumley, Director of Probate and Trust Administration about the role of a trustee. They discuss how to carefully select a trustee, the type of criteria that is most important for such a role, and circumstances when a professional trust company is a better option for your planning needs. They also look at some of the mistakes that can occur and how they can have a major impact on our planning goals. It really is one of the most consequential planning decisions you can make!
In each episode of The Estate of The Union podcast, hosts and lawyers Brad Wiewel and Zach Wiewel will give valuable insights into the confusing world of estate planning, making an often daunting subject easier to understand. It is Estate Planning Made Simple! The Estate of The Union Season 4|Episode 8 is out now! The episode can be found on Spotify, Apple podcasts, or anywhere you get your podcasts. If you would prefer to watch the video version, please visit our YouTube page. Please click on the links to listen to or watch the new installment of The Estate of The Union podcast. We hope you enjoy it.
Texas Trust Law focuses its practice exclusively in the area of wills, probate, estate planning, asset protection, and special needs planning. Brad Wiewel is Board Certified in Estate Planning and Probate Law by the Texas Board of Legal Specialization. We provide estate planning services, asset protection planning, business planning, and retirement exit strategies.
Giving assets to family members or grandchildren during your lifetime can be deeply rewarding. It also requires careful planning to avoid tax consequences and protect the gift’s long-term value. Trusts offer a way to make gifts strategically — ensuring that they are managed wisely, shielded from misuse and distributed according to your wishes. By incorporating trusts into your gifting strategy, you can balance generosity with foresight.
The Purpose of Gift Trusts
A gift trust allows you to transfer assets out of your estate, while still controlling how and when those assets are used. Unlike direct gifts, which are transferred to the recipient immediately, assets in a trust are managed by a trustee who follows the instructions you set. This enables support for younger beneficiaries, safeguarding funds and minimizing estate or gift taxes.
Gift trusts can serve many family and financial purposes, such as:
Education funding: Set aside money for tuition or college expenses.
Generational wealth planning: Transfer assets to children or grandchildren without triggering large tax bills.
Protection against misuse: Ensure that funds are distributed responsibly and not spent all at once.
Estate reduction: Lower the taxable value of your estate, while still helping loved ones now.
Each trust can be tailored to fit your family’s goals and financial picture, with explicit provisions for management, timing and oversight.
How a Gift Trust Works
When you create a gift trust, you name a trustee to oversee the assets. The trust document details how funds can be spent, at what ages distributions occur and for what purposes (such as education or home ownership). Many gift trusts are irrevocable, meaning the assets are permanently removed from your estate and reduce future estate taxes.
It’s also possible to structure trusts to take advantage of the annual gift tax exclusion, which allows you to gift up to a certain amount per beneficiary each year without incurring tax. Over time, this strategy can significantly shift wealth while preserving tax efficiency.
Balancing Control and Flexibility
Trusts can be highly flexible, with terms designed to reflect your values and priorities. Some trusts allow beneficiaries to receive funds in stages, while others include incentives for achieving educational or professional milestones. The key is striking the right balance — offering support while maintaining guidance.
Turn Generosity into a Lasting Legacy
Giving is a key part of shaping your family’s future. With the proper legal guidance, incorporating trusts into your gifting strategy will ensure those gifts are protected, purposeful and enduring. An experienced estate planning attorney can help you select the right trust structure, understand tax implications and ensure that your generosity continues to benefit your loved ones for generations. If you would like to learn more about gifting and estate planning, please visit our previous posts.
Probate is the court process that validates a will, appoints an executor, gathers assets, pays creditors and authorizes distributions. It exists to protect heirs and creditors. However, it can add months of delay, court fees and public filings that many families would rather avoid. Avoiding probate is key to protecting your legacy. The good news is that a handful of simple tools can help most households sidestep the bulk of the process, while keeping their plan clear and coherent.
What Probate Actually Does
Probate converts a will into a court-ordered document. In some states, it is streamlined; in others, it can be slower and more expensive. Either way, it is public by default. Petitions, inventories and some accountings may be part of the court file. If privacy and speed matter to your family, it pays to minimize the amount that must pass through the court.
When Skipping Probate Makes Sense
Avoiding probate is most beneficial when beneficiaries require immediate access to funds for housing, tuition, or medical expenses, when family members reside in different states, or when there is real estate in multiple states that could result in multiple court cases. It also helps when you value privacy and want to minimize the disclosure of net worth and family relationships.
Simple Paths That Bypass Court
Life insurance, retirement plans and many bank and brokerage accounts can pay directly to named individuals or to a trust. Use both primary and contingent beneficiaries, so money has a clear path even if someone dies first.
Transfer on death and payable on death
TOD and POD tools allow many financial accounts, and, in some states, real estate, to pass with a recorded form instead of a court order. Confirm how your state handles deeds and what documentation the custodian or recorder requires at death.
Revocable living trust
A living trust holds assets during life and directs distribution afterward. If funded properly, it lets your trustee act without opening a probate estate. Trusts are especially useful for real estate, closely held business interests and accounts that benefit from centralized management.
Joint ownership
Joint tenancy with right of survivorship can move property to a co-owner at death. Use it sparingly. Adding a name for convenience can create gift issues, creditor exposure and family disputes if expectations are unclear.
Avoiding Conflicts Between Documents
Your will, trust and beneficiary forms must tell one coherent story. If the trust makes staggered distributions for a young or vulnerable beneficiary, do not name that person directly on the accounts. If the trust owns real estate, ensure that the deed is titled in the name of the trustee. Maintain a single asset map that lists each account, its current location, the account’s title and the named beneficiary.
Practical Steps to Avoid Probate Today
Collect and review all beneficiary forms. Add contingents and remove any “estate” beneficiaries that would force court involvement. Record TOD deeds where available and confirm titling on joint property.
Centralize documents, logins and contact information for custodians, so your executor and trustee can act quickly. Finally, add a short letter of instruction that explains what you want sold, what you want kept and how you want personal items handled.
How A Probate Lawyer Can Help
Avoiding probate is key to protecting your legacy. A probate lawyer can estimate the time and cost of court proceedings in your state, then design a bypass plan that utilizes designations, TOD or POD tools and a revocable trust where appropriate. Counsel can harmonize deeds, update forms and coordinate with custodians so paperwork is accepted the first time. If you want a faster and more private transition, schedule a consultation to map your assets, align your titles and forms and limit what must enter the courthouse. If you would like to learn more about probate, please visit our previous posts.
For couples with significant assets, planning for the future is necessary to ensure financial security for the surviving spouse while minimizing tax exposure. Spousal Lifetime Access Trusts can protect your partner when you are gone. Often called a SLAT, it offers an effective way to achieve both goals. Combining long-term protection with ongoing access to funds helps preserve family wealth while maintaining flexibility.
Understanding Spousal Lifetime Access Trusts
A Spousal Lifetime Access Trust is an irrevocable trust created by one spouse for the benefit of the other. The grantor transfers assets, such as investments, real estate, or business interests, into the trust, thereby removing them from their taxable estate. The non-grantor spouse can then receive income or distributions from the trust during their lifetime.
This arrangement provides a balance between tax efficiency and practical access. It allows couples to reduce the size of their taxable estate while keeping resources available should unexpected expenses or financial changes arise.
How SLATs Protect Wealth
One of the main advantages of an SLAT is its ability to shield assets from future estate taxes. With current federal exemption limits set at historically high levels, couples can transfer substantial wealth now and lock in those benefits before potential tax law changes reduce the threshold.
The trust also serves as a form of asset protection. Once transferred, the assets generally cannot be reached by the grantor’s or the beneficiary’s creditors. This makes SLATs appealing to business owners and high-net-worth families seeking long-term security.
In many cases, the trust can also distribute income to the beneficiary spouse, ensuring that the family continues to benefit from the assets even though they are no longer part of the grantor’s estate.
Key Structural Considerations
While powerful, SLATs require careful design. Because they are irrevocable, the grantor cannot reclaim the assets after transferring them. Couples must ensure that they retain sufficient liquidity and income outside the trust to maintain their standard of living.
If both spouses create SLATs for each other, the trusts must differ meaningfully to avoid triggering the “reciprocal trust doctrine.” This IRS rule can invalidate tax benefits if two trusts are too similar, effectively treating each spouse as if they never transferred the assets in the first place.
Working with an experienced estate planning attorney helps ensure that each trust is structured uniquely using different funding sources, timing, or distribution terms to comply with IRS standards.
When to Consider a SLAT
A Spousal Lifetime Access Trust is particularly beneficial for couples with taxable estates who want to take advantage of the current high federal estate tax exemptions, which are set to increase from $13.99 million per person to $15 million for 2026. It’s also ideal for individuals who wish to preserve family wealth without cutting off financial flexibility for their spouse.
In addition, SLATs can complement other estate planning tools, such as irrevocable life insurance trusts or charitable trusts. By layering strategies, couples can maximize protection and tailor distributions to meet both personal and philanthropic goals.
Balancing Flexibility and Finality
Because SLATs are permanent, they require both foresight and discipline. Once assets move into the trust, they are beyond the grantor’s reach. However, that finality is what gives them their power. The trust ensures that estate taxes, legal claims, or financial mismanagement will not erode assets.
Spousal Lifetime Access Trusts can protect your partner when you are gone. Couples who thoughtfully design SLATs often find peace of mind knowing that their partner will be cared for, no matter what happens. If you would like to learn more about SLATS, please visit our previous posts.
Ultra-high-net-worth families often live, invest and give across borders. A plan that works in one country can misfire in another. Different rules on domicile, tax residency, marital property and forced heirship can alter who inherits and how much tax is due. Institutions may also block access to accounts until local requirements are met. A cross-border strategy is needed for estate planning with assets overseas. It brings these moving parts into one coherent framework, so heirs receive what you intend with fewer delays and fewer surprises.
Where Plans Break Across Borders
Countries define domicile and tax residency in different ways. One country may view you as a resident based on days present, another based on ties such as a home or family. Several civil law jurisdictions enforce forced heirship, which reserves a portion of an estate for children or a spouse regardless of what your will says.
Community property and separate property systems divide marital wealth differently. Without alignment, the same asset can face competing claims or double taxation. Bank secrecy and data rules can also slow access, especially when fiduciaries lack translated and apostilled documents.
Building A Multi-Jurisdiction Framework
Begin by documenting where you are treated as tax resident and where you are domiciled. Keep residency certificates, visa records and professional analyses that explain treaty positions.
Next, identify succession rules that could override your choices. Some jurisdictions allow you to elect the law of your nationality or habitual residence to govern your estate. Make that election clearly in your will or trust if it is available and ensure that each country where you hold assets will honor it.
Align legal structures with asset locations. Company shares, private funds and real estate often benefit from situs-appropriate holding entities or trusts that are recognized locally.
Confirm whether the jurisdictions you care about recognize common law trusts, civil law foundations, or both. Where recognition is limited, consider alternatives such as shareholder agreements, life insurance wrappers, or local testamentary tools.
Coordinating Fiduciaries and Access
Execution details matter. Appoint executors and trustees who can act in each country or name local co-fiduciaries where required. Prepare notarized and apostilled copies of core documents and translations into the languages your institutions require.
Maintain a secure inventory of accounts, safekeeping locations and key relationships, along with device passcodes and instructions for two factor authentication. These access steps are as necessary as the legal documents, since many institutions will not release information without them.
Philanthropy, Art, And Liquidity
Cross-border philanthropy can trigger registration, reporting, or withholding. Decide whether to use a single foundation, parallel entities, or donor-advised funds in more than one country, for art, yachts, aircraft and collectibles, track situs, export and cultural property restrictions and insurance conditions.
Plan liquidity for taxes that may be due before private business interests or real estate can be sold. Consider credit facilities, life insurance, or staged distributions to avoid forced sales at a discount.
Using Multiple Wills Safely
Many families benefit from separate wills for different countries. Each will should cover only assets in its jurisdiction and should state that it is limited in scope so it does not revoke the other will. Coordinate signing formalities, witnesses and governing law choices. Keep originals and certified copies in a location where fiduciaries can easily access them.
How An Estate Planning Law Firm Can Help
An estate planning law firm with cross-border experience can map domiciles and residencies, make governing law choices where permitted and tailor trusts or entities that local courts and registries recognize. A cross-border strategy is needed for estate planning with assets overseas. If your life spans more than one country, schedule a consultation so a lawyer can align documents, structures and access protocols before a crisis forces hurried decisions. If you would like to learn more about estate planning for assets overseas, please visit our previous posts.
Many families use a living trust to avoid probate and maintain private distribution. In real life, assets are acquired, accounts are opened and paperwork is often overlooked. A pour-over will is a safety net for your estate plan. It directs anything left in your name at death to “pour over” into your trust, so your trustee can follow one set of instructions.
What a Pour-Over Will Does
It names your trust as the beneficiary of your probate estate. If you forget to retitle an account or receive an unexpected payment, the trustee will gather those items and route them to the trust. You get unified control of who inherits, when and how, because the trust’s terms apply to everything that pours over.
Benefits of a Pour-Over Will
Use it whenever you have a revocable living trust. It is helpful if you own property in multiple places, expect new accounts or inheritances, or want the trustee to manage holdbacks for minors, spendthrift protections, or staged distributions.
When Not to Use a Pour-Over Will
A pour-over will does not avoid probate for assets still titled in your name. Those items may still require a court process before they reach the trust. It does not replace beneficiary designations on life insurance or retirement accounts. It does not solve funding errors for out-of-state real property without additional planning.
How To Set Up a Pour-Over Will Correctly
Coordinate Documents
Your will must correctly identify your trust by name and date. Keep the trust and will stored together and update both after significant life events.
Fund the Trust During Life
Retitle key assets into the trust now, then use the pour-over will as a backstop. Add transfer-on-death or payable-on-death designations where appropriate, aligned with the trust plan.
Name the Right Fiduciaries
Choose an executor who can move promptly and a trustee who understands the trust’s instructions. Add alternates in case a first choice is unavailable.
Coordination With Beneficiaries and Taxes
A pour-over will is a safety net for your estate plan. Confirm that beneficiary designations on retirement plans and insurance align with the trust. If your trust includes tax planning or special needs provisions, verify that the pour-over will capture assets that must pass through those provisions. Keep a concise asset list with locations, so your executor and trustee can act promptly. If you would like to learn more about pour-over wills, please visit our previous posts.
Living trusts are often praised as the cornerstone of avoiding probate. By transferring assets into a trust, individuals can ensure a smoother transition of wealth to heirs, often bypassing costly and time-consuming court proceedings. Yet, despite their benefits, not all property is well-suited for titling in a living trust. Including the wrong assets can create unintended tax consequences, legal complications, or unnecessary administrative burdens. It is wise to keep certain assets out of a living trust to avoid probate.
Understanding Living Trusts
A living trust is a legal entity that holds assets during a person’s lifetime and directs their distribution upon death. It provides flexibility, privacy, and efficiency compared to a will. However, it is not a one-size-fits-all solution. Certain assets are best kept outside of the trust to ensure they function as intended.
Retirement Accounts and Living Trusts
One of the most common mistakes in trust planning is transferring retirement accounts, such as IRAs, 401(k)s, or pensions, into a living trust. Federal tax rules treat these accounts differently, requiring that they remain in the individual’s name until withdrawal or distribution.
If a retirement account is retitled in the name of a trust, it could trigger immediate taxation of the full balance. Instead, individuals should use beneficiary designations to transfer these assets directly to their heirs, preserving tax advantages such as “stretch IRA” benefits where applicable.
Vehicles and Living Trusts
Cars, trucks, and other vehicles are generally poor candidates for trust ownership. The administrative burden of retitling, insurance complications, and the frequency of buying or selling make them impractical to place in a trust.
In most states, small estate provisions allow vehicles to pass outside of probate without issue. Unless a car is a valuable collector’s item or part of a business, keeping it in personal ownership usually makes more sense.
Health and Medical Savings Accounts
Like retirement accounts, Health Savings Accounts (HSAs) and Medical Savings Accounts (MSAs) have unique tax treatments that do not align with trust ownership. Instead, owners should assign beneficiaries directly through the account provider. Upon death, the funds transfer smoothly to the named beneficiary.
Assets with Named Beneficiaries
Life insurance policies, payable-on-death (POD) bank accounts, and transfer-on-death (TOD) securities accounts already bypass probate when a beneficiary is named. Including these assets in a trust is redundant and can even complicate matters. Ensuring that beneficiary designations are up to date often provides a more straightforward path.
Mortgaged Property
While real estate is often placed into a trust, property with outstanding mortgages requires careful planning and consideration. Transferring a home with a mortgage into a trust may trigger concerns or due-on-sale clauses from lenders. Proper legal guidance ensures compliance with both trust law and lending agreements.
When to Seek Guidance
It is wise to keep certain assets out of a living trust to avoid probate. Estate planning is a deeply personal process, and what works for one family may not be suitable for another. An estate planning attorney can help evaluate which assets should be placed in a trust and which should remain outside. They also ensure that excluded assets are transferred through other probate-avoidance methods, such as beneficiary designations or joint ownership structures.
If you are considering creating or updating a living trust, consulting with an estate planning attorney ensures your trust is both practical and efficient. If you would like to learn more about placing assets in a trust, please visit our previous posts.
Inheritance disputes are among the most common causes of family conflict following the death of a parent. While parents may assure children during their lifetime that property will be divided evenly, the legally binding estate plan can tell a different story. This gap between promises and plans is at the heart of many sibling battles. There are strategies to avoid estate disputes between siblings.
Why Promises and Plans Diverge
Parents often express intentions informally, believing verbal assurances are enough. Yet without clear documentation, courts follow the written will, trust, or beneficiary designations. This can leave some siblings feeling betrayed when the estate plan doesn’t reflect the verbal promises made.
Confusion also arises when parents alter their estate plans late in life. A parent may gift a home, business, or financial asset to one child, sometimes without consulting the other children or the rest of the family. While these actions may be legally permissible, they can sow resentment among siblings who expected equal treatment.
Common Sources of Estate Disputes
Sibling disputes over inheritances often emerge from several recurring scenarios:
Unequal distribution of assets: One sibling inherits property or financial assets of greater value than others.
Unclear estate documents: Ambiguous or outdated wills can spark conflicting interpretations.
Blended families: Children from multiple marriages often have different expectations about inheritances.
Caregiver favoritism: A child who cares for a parent may be left more than siblings, leading to accusations of undue influence.
When these disputes escalate, they often result in costly litigation. Estate litigation can drain estate assets and deepen rifts between siblings.
The Legal Weight of Written Documents
Courts prioritize written estate documents over verbal statements. Even if a parent promised to divide assets evenly, what matters legally is the signed will or trust. Similarly, beneficiary designations on retirement accounts or insurance policies override the will. This reality often surprises families who believed verbal promises carried legal weight.
For example, a mother may assure both children that they will split her estate evenly. Later, however, she gifts a valuable piece of real estate to one of her children. If the property transfer was executed correctly, the other sibling may have no legal recourse. The sense of unfairness is real, but the law generally enforces the written transfer.
Preventing Sibling Conflicts Through Planning
Parents can take several steps to prevent estate disputes among their children:
Document Intentions Clearly:
Estate plans should leave no ambiguity. Wills and trusts must accurately reflect the parents’ true wishes, and updates should be made after major life events, such as remarriage, the birth of grandchildren, or significant asset purchases.
Communicate With Family:
Conversations about estate planning can be uncomfortable, but they reduce the chances of misunderstandings later. Parents should explain their decisions and the reasoning behind them, especially if one child will inherit differently.
Use Legal Safeguards:
Estate lawyers can help draft documents that withstand challenges. For instance, “no-contest” clauses discourage heirs from disputing the plan. Parents can also record their reasoning in writing to strengthen the validity of their choices.
The Role of an Estate Planning Lawyer
Estate planning lawyers play a key role in bridging the gap between family expectations and legal realities. They ensure estate documents are enforceable, anticipate areas of potential conflict, and advise on tools such as trusts to equalize distributions.
If your family is facing uncertainty or strained sibling relationships over inheritance promises, there are strategies to avoid estate disputes between siblings. Consulting an estate lawyer early can help preserve both financial assets and family bonds. If you would like to learn more about estate disputes, please visit our previous posts.
End-of-life planning is often overlooked. However, it is one of the most meaningful ways to protect your family. Funeral costs can be overwhelming, and without preparation, surviving relatives may face both emotional and financial burdens. Burial insurance and prepaid funeral plans are two tools that can ease this process and make sure your final wishes are carried out.
What Is Burial Insurance?
Burial insurance, also known as final expense insurance, is a type of whole life insurance specifically designed to cover funeral costs, burial expenses and related fees. Policies typically range from $5,000 to $25,000, providing a modest but essential safety net.
Unlike larger life insurance policies, burial insurance focuses specifically on immediate post-death costs. It is generally easier to qualify for, with simplified underwriting and fewer medical exams. This makes it an attractive option for older adults or those with health conditions.
Burial insurance benefits are paid directly to the beneficiary, who can then use the funds to cover funeral services, outstanding medical bills, or other final expenses.
What Are Prepaid Funeral Plans?
Prepaid funeral plans allow you to arrange and pay for funeral services in advance. These plans are typically purchased through a funeral home and may include services such as the casket, memorial arrangements, cremation, or burial plot.
Advantages of Prepaid Funeral Plans
Planning in advance locks in current prices, protecting against inflation in funeral costs. It also relieves loved ones from having to make rushed financial and emotional decisions during a period of grief. Prepaid plans can be tailored to reflect personal wishes, ensuring that the funeral reflects the individual’s values and preferences.
Potential Pitfalls
Not all prepaid plans are created equal. Some may lack portability if you move to another state or wish to change providers later. Others may include hidden fees or restrictions. It is important to review contracts carefully and ensure that the funds are held in trust or covered by insurance to protect your investment.
Comparing Burial Insurance and Prepaid Funeral Plans
Both burial insurance and prepaid plans help families avoid unexpected financial burdens, but they work differently.
Burial insurance provides flexibility since the payout can be used for any expenses, not just funeral costs.
Prepaid plans ensure funeral arrangements are made in advance. However, they may limit how funds are applied.
Many families choose to use a combination of both, securing burial insurance for flexibility while prepaying certain services to lock in costs and preferences.
Integrating These Tools into Estate Planning
End-of-life planning goes beyond financial considerations; it is about protecting loved ones from stress and ensuring that your wishes are carried out. Including burial insurance or prepaid funeral plans in your estate planning provides a complete picture of how your legacy will be handled.
Attorneys can help align these tools with broader estate plans, ensuring that beneficiary designations, trusts and wills all work together. By taking these steps, families can focus on honoring their loved one’s memory rather than worrying about bills or logistics.
End-of-life planning is often overlooked. If you are considering burial insurance or a prepaid funeral plan, now is the time to review your options. An estate planning law firm can help you determine which approach best fits your needs and ensure that your family is protected. If you would like to learn more about end-of-life planning, please visit our previous posts.
When someone passes away, their property must be distributed according to legal procedures. Two of the most common mechanisms are estate administration and trust administration. Though the terms are sometimes used interchangeably, there are important differences between estate administration and trust administration. Understanding how each works helps families prepare for potential costs, delays and responsibilities.
What Is Estate Administration?
Estate administration refers to the court-supervised process of managing a deceased person’s assets, also known as probate. If there is a will, the court validates it and appoints an executor to carry out its instructions. Without a will, state intestacy laws dictate who inherits.
Estate administration typically involves:
Collecting and inventorying assets
Notifying creditors and paying debts
Filing tax returns
Distributing the remaining property to heirs
Because it is court-supervised, probate can be a lengthy and public process. In many states, the process can take anywhere from months to over a year, depending on the complexity of disputes or assets. Probate costs, such as filing fees and attorney expenses, also reduce the value of the estate.
What Is Trust Administration?
Trust administration occurs when a person creates a trust during their lifetime and funds it with assets. Upon the death of the original trustee, the successor trustee takes over to manage and distribute the trust property according to the terms outlined. Unlike probate, trust administration is usually handled privately without court oversight.
Trust administration typically requires the trustee to:
Notify beneficiaries and creditors
Manage trust investments and expenses
File tax returns for the trust
Distribute assets according to the trust’s terms
Because no court process is required, trust administration is often faster and more efficient. However, trustees carry significant fiduciary responsibilities and must act in the best interests of the beneficiaries, sometimes under scrutiny.
Key Differences Between the Two
The primary differences center on privacy, efficiency and costs.
Court Involvement: Estate administration requires probate court supervision; trust administration generally does not.
Timeline: Probate can be lengthy, while trust administration is typically quicker.
Privacy: Probate is public record, whereas trusts are private.
Costs: Probate can involve higher legal and court fees; trusts often reduce those expenses.
That said, trusts are not always cheaper overall. Creating and funding a trust during one’s lifetime has upfront costs, and trustees often hire attorneys or accountants to handle complex tasks.
When Both May Apply
Sometimes, both processes are necessary. If a person creates a trust but fails to transfer all assets into it before death, those leftover assets may still require probate. Likewise, disputes among beneficiaries can push even trust administration into court.
Why Legal Guidance Matters
Both estate and trust administration involve navigating legal duties, deadlines and potential conflicts. Misunderstanding the differences between estate administration and trust administration can be costly. Executors and trustees who mishandle their responsibilities may face liability from beneficiaries or creditors. An estate planning attorney helps families prepare documents that minimize the need for probate, ensure trusts are properly funded and guide administrators through their obligations.
If your family is facing estate or trust administration, consulting an attorney can save time, reduce costs and protect you from legal missteps. If you would like to learn more about estate and trust administration, please visit our previous posts.
Information in our blogs is very general in nature and should not be acted upon without first consulting with an attorney. Please feel free to contact Texas Trust Law to schedule a complimentary consultation.
