Testamentary Trusts

Lubbock Testamentary Trust Attorneys

Making end-of-life arrangements isn’t easy for anyone, but it lessens some of the pain and distress of those who survive you. A Lubbock testamentary trust lawyer can help you.

In Texas, a testamentary trust is created when someone passes away. This trust is outlined in the person’s last will or ordered by a court to manage the deceased person’s assets.

It doesn’t come into existence until the person dies, and when that happens, all the assets listed in the will go through probate before the court transfers them into the trust.

Before the person dies, they can change the terms of the trust as they wish. They can make it dependent on certain conditions, meaning the trust is created or altered only if those conditions are met.

Discover the Beck Law Firm Difference When Creating Your Lubbock Testamentary Trust

At Beck Law Firm, our dedicated team of experienced attorneys provides quality service adapted to your specific needs.

Life in Lubbock truly stands out, and your history speaks to that. We recognize the significance of having a legal ally who truly understands your needs, ensuring your legacy endures.

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How Is a Testamentary Trust Different From a Living Trust in Texas?

A testamentary trust and a living trust are both legal arrangements used in estate planning, but they differ in key areas, especially in Texas:

Creation and Activation:

Testamentary trust: This trust is created through your last will and testament. It only takes effect after your death, as outlined within your will.

Living trust: This trust is established during your lifetime. You transfer your assets into it while you are still alive. It can be modified or revoked at any time.

Control and Management:

Testamentary trust: You maintain complete control of your assets during your lifetime, and the trust only exists after your death. The assets are typically subject to probate before being transferred into the trust.

Living trust: You retain control of the assets placed in the trust during your lifetime and can act as the trustee, managing the assets as you see fit.

With incapacity or death, a successor trustee takes over, avoiding probate.

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