Legal Question in Wills and Trusts in Texas
Initiating a Trust
I have used several sites on the web (including
yours to prepare a Trust for me and my family. I
have named myself as Grantor and my only son
and only daughter as Trustees. I have made up a
Schedule A which transfers my home, cars, cash
and time-share to the trust. I understand that
upon my death all of the trust proceeds will go to
my wife, correct? If my wife and I die together, will
my son and daughter be able to liquidate the trust
to themselves as I desire? Does the trust stay in
effect even following my death and my wife is
living? Can my wife sell or trade and cash in any
items in the trust? Does my son simply sign over
the items to her with his signature followed by the
word 'Trustee?' Also how do I get the title to cars
my home, and time-share real estate transferred
to the trust--who do I contact in each case? Am I a
trustee of the trust, is my wife? Are there any
ramifications from my completing and forming the
trust myself and having myself, my son and my
daughter sign as trustees? Please provide as
much information about trust that you can in a
short span.
1 Answer from Attorneys
Re: Initiating a Trust
Get yourself an estate-planning lawyer to assist you with the trust you've put together. There's no way anyone can answer your questions about your trust without seeing what you've written into the trust document itself.
The only difference between do-it-yourself surgery and do-it-yourself lawyering is that the pain is immediate with surgery. At least you are still alive to possibly correct what you may have done with your trust document.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
