In General

What is a Spendthrift Trust?

November 28, 2012

As parents, we all do our best to instill our good values in our children. But sometimes, despite all our guidance, our children make poor personal and financial decisions. Their poor judgment may be a due to a lack of maturity that is temporary, or perhaps a long-term problem stemming from alcohol and drug abuse [...]

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Should I Designate My Children’s Guardian as Beneficiaries of My Life Insurance Policy?

July 18, 2012

I spoke to a young mother several weeks ago who wanted information on how to legally name a guardian for her minor children. She explained that she and her husband had already designated her parents as the beneficiary of their life insurance and retirement plans, but they wanted to make sure her parents also got [...]

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Does a Revocable Living Trust Protect Assets From Creditors?

April 18, 2012

Many people mistakenly believe that putting their assets into a revocable trust will shelter those assets from creditors. This is not the case. A revocable living trust is a trust that you create during your lifetime. You fund the trust by transferring legal ownership of your property to the revocable trust. However, when you transfer [...]

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I Have a Revocable Trust – Why Do I Need a Will Too?

February 6, 2012

If you have a properly funded revocable trust, you may not need a will. At the time of your death, your property will be managed and distributed according the terms of the trust you established. But what about that piece of property that you recently acquired, forgot about, or neglected to retitle in the name [...]

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What Is A Contingent Trust?

December 12, 2011

If you have life insurance, there is a good chance no benefits will ever be paid. An insurance settlement is contingent on you dying during the term of the policy. If the term expires before you die, the insurance company’s obligation to pay the benefits is not triggered. Like insurance, some trusts are not created [...]

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What are the Requirements of a Valid Trust in Texas?

May 23, 2011

When people think about trusts and trust funds, images of people like Paris Hilton come to mind. But trusts not just for the wealthy. What are the benefits of creating a trust? Trusts can be set up to manage assets for those who are minors, spendthrifts, or have special needs; to ensure that assets in [...]

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