Texas Wills and Trusts

Real Estate Law For Current or Prospective Property Owners

Call 972-960-1850 Contact Us

Texas Wills and Trusts

Real Estate Law For Current or Prospective Property Owners

CALL 972-960-1850
CONTACT US
Board Certified by the Texas Board of Legal Specialization in Residential Real Estate Law.
American Bar Association
State Bar of Texas
Dallas Bar Association
AV Preeminent rated by Martindale-Hubbell

Wills and Trusts in Texas

Wills and Trusts are two common estate planning tools used in Texas.  Both may be useful tools for planning your family’s future after you pass. 

Very simply, a Will goes into effect after you die.  A Trust goes into effect once you create it.

You might use one or the other depending on your circumstances.  However, they are often used together to prepare a more complete estate plan.  

There is peace of mind knowing your affairs are in order and your family is protected.

Prepare a Will

Having a Will ensures that your assets will go to the heirs you choose. If you do not have a Will, the state will decide how to distribute your assets.

If needed, you may use a Will to name a guardian for your minor children.

We prepare a Will for $950.

Our Wills include a number of supporting documents such as Powers of Attorney, Physician’s Directive and more.

Texas Will

Set up a Trust

A Trust creates a new entity to own your real estate property or other assets.  It may remain in existence after your death for your Beneficiaries.

When you set up your Trust, you decide if it is to be a Revocable or an Irrevocable Trust. Alternatively, you may set up the Trust to be Revocable while you are alive and make it Irrevocable after your death.

We prepare a Trust for $950.

Texas Trust

Will vs Trust in Texas

Here are some points to consider:

A Will:

  • A Will is a document that outlines how you want your property and assets distributed when you pass.
  • You may name a guardian for your minor children with a Will. Note: You can also create a Trust inside a Will to manage the inheritance of minors. This is called a Testamentary Trust.
  • A Will goes into effect when you die.
  • It can be changed any time before your death.
  • A Will is relatively inexpensive to create.
  • The probate proceeding may be time consuming and expensive including court costs and legal fees.
  • Appoints an executor who is the legal representative who will carry out your wishes.
  • Covers property that is in your name only. It does not cover property held jointly or in a Trust.

A Trust:

  • A Trust is an entity set up by a written document known as a Trust Agreement.
  • Is also known as a Living Trust because you create it while you are living, as opposed to a Testamentary Trust which can be created in your Will to take effect upon your death.
  • Once set up, you transfer any or all of your assets into the Trust.
  • You maintain control of the Trust and your assets until you die.
  • Trusts are somewhat more expensive to set up initially.
  • However, a Trust avoids probate and thus the fees associated with probate.
  • As Trusts are not public records, they are more private.
  • Make sure to keep your Trust maintained and updated.
Contact us
Board Certified Residential Real Estate Law

Experienced Texas Real Estate Lawyer

Do you have questions about preparing a Will or setting up a Trust?  Email your questions directly to attorney Scott Steinbach at scott@steinbachlaw.com. Or speak with him at 972-960-1850. There is no fee for your call.

The Steinbach Law Firm prepares Texas Wills and Trusts. Our fee is $950 for a Trust and $950 for a Will.

Scott Steinbach is AV Preeminent rated by Martindale-Hubbell.  Peer rated for Highest Level of Professional Excellence.