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Types of Trusts

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In estate planning, trusts are essential for asset protection, control, and flexibility. There are various trust types and each has their own unique advantages.  

Types of Trusts

Revocable Living Trust:

  • Enables seamless asset management and distribution during your lifetime
  • Ensures privacy and avoids probate
  • Offers flexibility to modify trust provisions

Irrevocable Trust

  • Provides potential tax benefits and asset protection

  • Ideal for charitable endeavors or managing assets for future generations

Testamentary Trust:

  • Facilitates asset management and distribution to designated beneficiaries
  • Safeguards assets for minors, individuals with special needs, or controlled distributions over time

Special Needs Trust:

  • Supports individuals with disabilities while preserving government benefit eligibility

Charitable Trust:

  • Enables support for causes with potential tax benefits
  • Establishes scholarships, grants, or endowments

Asset Protection Trust:

  • Safeguards assets from creditors, lawsuits, and financial risks

Dynasty Trust:

  • Preserves wealth for multiple generations, minimizes estate taxes
  • Creates a lasting legacy

Contact Our Trust Lawyers

Understanding different trust types empowers you to tailor your estate plan. Trusts offer diverse benefits, including asset protection, charitable contributions, and wealth preservation. Seek guidance from our trust lawyers at Keith Morris & Stacy Kelly, Attorneys at Law to determine the most suitable trusts for your needs. Remember, expert advice ensures asset protection and a secure future for your beneficiaries.

Talk to our Houston & Fort Worth noncompete violation lawyer by setting up your appointment at (713) 636-5339 in Houston or (817) 442-2048 in Fort Worth today.

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