I own property outside of Texas, do I need a trust?

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 The Guidance Of An Experienced Estate Planning Attorney?

If you find yourself thinking more and more about how to preserve your assets for your family you should speak with an experienced estate planning attorney as soon as possible. Contact us online or call our Dallas office directly at 214.559.7202.

Lori Ashmore Peters
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Helping Dallas area families with all of their legal Estate Planning, Probate and Business Planning needs.