Trusts have increasingly risen in importance in planning strategies for people from all walks of life. Through a trust, a grantor, who creates and funds the trust, enters into an agreement with a trustee, who manages the trust, for the benefit of one or more trust beneficiaries. Many individuals choose to establish trusts for minors or other beneficiaries who, for any number of reasons, are incapable of handling their own finances. Trusts are also useful tools for managing charitable giving, minimizing estate and gift tax liability, or providing for individuals with special needs.
When working with you to create an estate plan, our Texas trust attorney will advise you of the types of trusts which might be appropriate for achieving your goals.