Yes, if you have any real estate that is not located in the State of Texas, you need to consider creating a Trust to hold the property.
We recommend setting up a Revocable Living Trust (RLT). The primary purpose of this RLT is to eliminate the need to go through the probate process in each state you have property. Without this RLT, you will have to go through the probate process in the state the property is located. This process can become cumbersome and costly depending on the State. To avoid the delay and cost, an RLT can be created to hold the property and control its distribution upon your death.
Read our article, Do I Need a Trust, to learn more reasons why setting up a trust would be beneficial to you.
Do You Need To Speak With An Experienced Estate Planning Lawyer In The Dallas Area?
If you need to speak to an experienced estate planning attorney please contact us online or call our Dallas office directly at 214.559.7202. We help clients throughout the Dallas area with all of their estate planning needs and look forward to helping you.
