Lori Ashmore Peters
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Helping Dallas, Park Cities, Highland Park Texas Area Families with Estate Planning, Probate & Litigation

A lifetime trust can apply to any trust you create and will last for the lifetime of the beneficiaries. It can be applied to an irrevocable trust, a revocable living trust, or a testamentary trust. We recommend you think about this lifetime trust option when creating a trust, especially if the beneficiaries of the trust are children.

The great thing about a lifetime trust is that the beneficiaries of the trust will benefit from the trust for their entire lifetime. They can receive distributions from the trust for health, education, maintenance and support, which are pretty broad terms. We call this “perfect asset protection” because the beneficiaries never receive an outright distribution of one lump sum during their lifetime. If a beneficiary is ever sued or gets divorced, a creditor or an ex-spouse cannot get to the money in a lifetime trust. 

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.