Dallas, TX Trusts Lawyer

When you create a trust, you are ensuring that your beneficiaries will experience an easier time sorting out your estate once you have passed. Trusts are a powerful tool in estate planning, and there are many that might pertain to you depending on your unique circumstances.

When you are looking to create your trust, working with a Dallas trusts lawyer at Villegas Law Firm can ensure that your particular needs are taken into consideration and you are given thorough guidance on which trusts are most applicable to your estate planning goals. Our managing attorney, Jorge Villegas, has also been a practicing Certified Public Accountant for over 20 years, so he can walk you through the taxing and financial implications of whichever trusts you choose.

Schedule a free initial consultation and learn how we can help give you peace of mind for your future and that of your family.

Why Do I Need A Trust?

A trust is an important estate planning tool. It allows you to transfer assets to the trust so that they can bypass probate and reach your designated beneficiary quickly and without hassle. There are different types of trusts that are specialized for different needs depending on the people in your life and the assets that you wish to pass down.

For example, if you want to leave assets for your grandchildren or for a person in your life who is bad with money, there are trusts for those specific circumstances. If you want to leave behind real estate, you would use a different trust than you would if you want to leave someone your stocks and bonds.

Working with Villegas Law Firm will allow you to choose the correct trusts and have special insight into the tax and financial implications of each one.

Types Of Trusts

There are multiple types of trusts that allow you to accomplish different inheritance processes based on the goals of your estate plan. Some of the types of trusts that you can establish with the help of our Dallas trusts lawyer include:

• Revocable trusts: These trusts allow you to allocate assets for your beneficiary, who can collect their inheritance once the terms of the trust have been fulfilled. These types of trusts can be altered at your will.

• Irrevocable trusts: These trusts are very similar to revocable trusts with the key difference being that these cannot be altered once they are established.

• Charitable trusts: These trusts designate and distribute assets to charitable organizations of your choice.

• Special needs trusts: These trusts allow you to secure assets for your family member with special needs and will allow you to distribute them in such a way that your assets do not alter their qualification for healthcare programs such as Medicaid, which only allows you to possess a finite amount of wealth.

• Spendthrift trusts: You can decide how the assets of this trust are distributed so that a loved one who is bad with money management can’t deplete the assets of the trust all at once.

• Generation skipping trusts: This trust will allow you to designate funds for your grandchildren, which will not be taxed the same as they would if the funds were to become a part of the estate of their parents.

There are more trusts of similar specificity so that you can make the choices that are best for you and your family.

Villegas Law Firm Can Help You Create The Trust That Works For You

Reach out to schedule a free consultation with Villegas Law Firm and learn how we can help you with all aspects of trust creation. We will guide you through best practices, requirements, parameters, taxes, and financial implications of each trust. Trust Villegas Law Firm to help you create a trust that will exceed your estate planning goals.